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The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account.
The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, required minimum distributions (RMDs), and the fair market value (FMV)
File Form 5498, IRA Contribution Information, with the IRS by May 31, 2025, for each person for whom in 2024 you maintained any individual retirement arrangement (IRA), including a deemed IRA under section 408(q). An IRA includes all investments under one IRA plan. It is not necessary to file a Form 5498 for each investment under one plan.
Information about Form 5498, IRA Contribution Information (Info Copy Only), including recent updates, related forms and instructions on how to file. File this form for each person for whom you maintained any individual retirement arrangement (IRA), including a deemed IRA under section 408 (q).
Increase in required minimum distribution (RMD) age. The age for RMDs was increased to 73 by the SECURE 2.0 Act of 2022. For more information, see RMDs, later. Reminders In addition, see the current General Instructions for Certain Information Returns for information on the following topics.
Use one of these worksheets to calculate your Required Minimum Distribution from your own IRAs, including SEP IRAs and SIMPLE IRAs . Required Minimum Distribution Worksheet - use this only if your spouse is the sole beneficiary of your IRA and is more than 10 years younger than you.
22 paź 2024 · Required minimum distributions (RMDs) Form 5498 also documents the fair market value (FMV) of your IRA account at the end of the year. In the rare case you have an endowment contract with a life insurance company, a portion of your IRA contributions might be allocated to the cost of life insurance.
