There are two tax documents that are important if you have an HSA: 1099-SA and 5489-SA
This tax document is used to report any distributions, or withdrawal of funds from your HSA during the 2019 tax year. All of your distributions from your HSA must be reported on IRS Form 8889 before filing 2019 taxes.
The 5498-SA form reports all contributions to your HSA for 2019, including those contributed for 2019 between Jan. 1, 2020 and the tax filing deadline. It is important to know that this form is only informational and does not need to be filed with your income tax return. But it’s a great way to make sure you’re taking full advantage of the allowed annual HSA contribution amounts.
How can I access these tax documents?
You can access your tax documents while logged into your HSA Central account and clicking on “Tools & Support.” From there, scroll down the page and look for the “HSA Tax Documents” link under the Documents & Forms section. From there you can click on each document to then print or download.
What do I need to do with these tax documents?
These tax documents may be printed or downloaded for you to complete your 2019 tax filing. Your 1099-SA tax form must be filed with your 2019 tax filing, and the distributions found on your 1099-SA document must also be recorded on the IRS Form 8889 before filing 2019. The 5498-SA tax form is for your own informational purposes and does not have to be included in your yearly tax filing. Make sure to consult with your tax professional if you have any questions about these documents.
Why doesn’t my W-2 match the Form 5498.SA?
If the contributions on your W-2 don’t match your Form 5498-SA, you most likely made after-tax contributions or contributions between January 1 and tax day for the previous year.