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How To Understand Your 5498-SA Form

How To Understand Your 5498-SA Form


Each year, HSA providers are required to send a copy of Form 5498-SA to all HSA accountholders (unless the accountholder took all the funds out of their HSA that year and didn’t make any contributions).

Form 5498-SA is sent out at the end of August (for 2020 only, typically the form is sent out at the beginning of June). It doesn’t need to be filed with your taxes; it’s provided for informational purposes. We recommend comparing it against your tax return and keeping it for your records.

Here’s how to read your Form 5498-SA for the 2019 tax year:


Trustee information: You’ll see the name, address, and number of your HSA trustee here. If you have an HSA through HealthSavings, you’ll see FPS Trust listed here.

“Void” box: If this box is checked, your HSA provider is informing the IRS that your HSA is void.

“Corrected” box: If this box is checked, the IRS had previously received incorrect information and your HSA provider is correcting the information.

Box 1: This box is only for contributions made to Archer MSAs. If you don’t have an Archer MSA, you’ll get a value of zero for this box.

Box 2: This box shows the total contributions made in 2019 to your HSA. Important: This includes any IRA-to-HSA transfers and any contributions made in 2019 for 2018.

Box 3: This box shows the total contributions to your HSA made in 2020 for 2019.

If the sum of Box 2 and Box 3 is higher than the 2019 contribution limit ($3,500 for self-only coverage, $7,000 for family coverage), that doesn’t automatically mean you contributed too much in 2019. Remember that Box 2 also includes any contributions made in 2019 for 2018. If you have a question about your contributions, your HSA provider can help.

Box 4: This box shows any HSA rollovers made in 2019. If you made a direct HSA-to-HSA transfer in 2019, you won’t see that here. See the differences between HSA rollovers and transfers here.

Box 5: This box shows the fair market value of your account as of December 31st, 2019.

Box 6: This box shows what type of savings account you have.


The IRS has extended the tax deadline from April 15th to July 15th. Individuals may continue to make 2019 HSA contributions until 11:59 p.m. EST on July 15, 2020. Read more Covid-19 updates >>