Get 2021 Form 5498. Ira Contribution Information

Filling out Form 5498 is essential for reporting contributions to your IRA. This guide will help you navigate the form, ensuring you provide the necessary information accurately and efficiently.

Follow the steps to fill out the form correctly.

1. Click ‘Get Form’ button to obtain the form and open it in the editing interface.
2. Fill in the trustee’s or issuer’s name, street address, city or town, state or province, country, and ZIP or foreign postal code in the designated area.
3. Enter your taxpayer identification number (TIN) in the appropriate field for the participant.
4. Provide your full name in the participant's name section.
5. In box 1, report any IRA contributions you made in 2021 that may be deductible on your tax return, including contributions made through April 18, 2022.
6. In box 2, indicate any rollover contributions made during 2021, including direct rollovers to a traditional or Roth IRA.
7. If applicable, enter the amount converted to a Roth IRA in box 3.
8. Box 4 is for reporting any recharacterized contributions that were transferred between different types of IRAs.
9. Report the fair market value of your account at year-end in box 5.
10. For endowment contracts, enter the life insurance cost allocable in box 6.
11. In box 7, indicate the type of IRA reported on the form.
12. Report any SEP and SIMPLE contributions made in 2021 in boxes 8 and 9, respectively.
13. For Roth IRA contributions made in 2021 and through April 18, 2022, enter the amounts in box 10.
14. If required, check box 11 to indicate RMD for 2022 and provide the RMD date and amount in boxes 12a and 12b.
15. Report any postponed or late contributions made in 2021 in box 13, including the year to which it is credited.
16. For repayments reported in box 14, indicate the amount and code if applicable.
17. Finally, complete boxes 15a and 15b to report fair market values of certain specified assets and their types.
18. Once all fields are completed, save your changes, and download, print, or share the form as needed.

Complete your documents online to ensure accuracy and compliance with IRS requirements.