Instructions For Forms 1099-Qa And 5498-Qa

Recipient's Name and Social Security Number

Specific Instructions for Form

(SSN)

1099-QA

List the designated beneficiary as the recipient unless you

are reporting a returned excess contribution to the

Who Must File

contributor. In that case, list the contributor as the

recipient. Enter the SSN of the applicable recipient.

Any State or its agency or instrumentality that establishes

and maintains a qualified ABLE program must file a Form

Account Number

1099-QA, Distributions From ABLE Accounts, with the

The IRS encourages you to designate an account number

IRS on or before February 28, 2018, for each ABLE

for all Forms 1099-QA that you file. See part L in the 2017

account from which any distribution was made or which

General Instructions for Certain Information Returns.

was terminated during 2017. The filing may be done by

either an officer or employee of the State or its agency or

Box 1. Gross Distribution

instrumentality having control of the qualified ABLE

Enter the gross distribution from the ABLE account in

program, or the officer’s or employee’s designee.

2017. The gross distribution includes amounts distributed

Do not file Form 1099-QA for a change in the name of

that the designated beneficiary intends to roll over to

the designated beneficiary on an ABLE account if the new

another ABLE account, but does not include

designated beneficiary is an eligible individual and a

program-to-program transfers. See Rollovers and

member of the family of the former designated

program-to-program transfers, earlier. On a Form

beneficiary. For these purposes, a “member of the family”

1099-QA for a contributor, enter into Box 1 the amount(s)

means a sibling, whether by blood or by adoption, and

of excess contributions withdrawn plus earnings thereon.

includes a brother, sister, stepbrother, stepsister,

half-brother, or half-sister. If the new designated

Box 2. Earnings

beneficiary is not an eligible individual for the tax year or is

To determine the earnings on the gross distribution

not a member of the family of the former beneficiary, the

reported in box 1, see Proposed Regulations section

Form 1099-QA filed with respect to the former designated

1.529A-3(c).

beneficiary should include in box 1 the fair market value of

the assets in the ABLE account on the date on which the

Box 3. Basis

change is made to the new designated beneficiary.

Enter the portion of the distribution that constitutes the

return of investment in the account. The amount of the

Statements to Recipients

gross distribution minus the earnings portion of that

If you are required to file Form 1099-QA, you also must

distribution is the portion of the distribution that constitutes

furnish a statement to the designated beneficiary of the

the return of investment in the account. This amount is

ABLE account reporting distributions, and to each

computed by subtracting the amount in box 2 from the

contributor who received a returned contribution (plus

amount in box 1.

earnings) attributable to the calendar year. Furnish a copy

of Form 1099-QA or an acceptable substitute statement to

Box 4. Program-to-Program Transfer Checkbox

each recipient, but only with regard to the amounts paid to

Check this box if a program-to-program transfer was

that recipient. See part M in the 2017 General Instructions

made from this ABLE account to another ABLE account in

for Certain Information Returns.

2017. See Rollovers and program-to-program transfers,

Truncating recipient’s taxpayer identification number

earlier.

on payee statements. Pursuant to Regulations section

Box 5.

301.6109-4, all filers of this form may truncate a

recipient’s taxpayer identification number (social security

Check the box if the ABLE account terminated in 2017.

number (SSN), individual taxpayer identification number

Box 6. Other Than Designated Beneficiary

(ITIN), adoption taxpayer identification number (ATIN), or

Checkbox

employer identification number (EIN)) on recipient

statements. Truncation is not allowed on any documents

Check this box if this form is being filed with respect to a

the filer files with the IRS. A payer's taxpayer identification

distribution to or for the benefit of someone other than the

number may not be truncated on any form. See part J in

designated beneficiary of the ABLE account, for example,

the 2017 General Instructions for Certain Information

a distribution of an excess contribution to the contributor.

Returns.

Specific Instructions for Form

Payer's Name and Federal Identification

5498-QA

Number

For the payer's name and federal identification number,

Who Must File

enter the name, address, and taxpayer identification

number (TIN). For a program established and maintained

Any State or its agency or instrumentality that establishes

by a state that uses the EIN of the state, enter the name of

and maintains a qualified ABLE program must file, for

the state on the first name line and the name of the

each ABLE account, a Form 5498-QA, ABLE Account

program on the second name line.

Contribution Information, with the IRS on or before May

31, 2018. The filing may be done by either an officer or

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Instructions for Forms 1099-QA and 5498-QA (2017)

Instructions For Forms 1099-Qa And 5498-Qa - 2017 Page 2

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