Fillable Form 5498 - Ira Contribution Information

Instructions for Participant

The information on Form 5498 is submitted to the Internal Revenue Service by the

Box 10. Shows Roth IRA contributions you made in 2014 and through April 15, 2015. Do not

trustee or issuer of your individual retirement arrangement (IRA) to report

deduct on your income tax return.

contributions, including any catch-up contributions, required minimum distributions

Box 11. If the box is checked, you must take an RMD for 2015. An RMD may be

(RMDs), and the fair market value (FMV) of the account. For information about IRAs,

required even if the box is not checked. If you do not take the RMD for 2015, you are

see Pubs. 590 and 560.

subject to a 50% excise tax on the amount not distributed. See Pub. 590 for details.

Participant's identification number. For your protection, this form may show only the

Box 12a. Shows the date by which the RMD amount in box 12b must be distributed to

last four digits of your SSN, ITIN, or ATIN. However, the trustee or issuer has reported

avoid the 50% excise tax on the undistributed amount for 2015.

your complete identification number to the IRS and, where applicable, to state and/or

Box 12b. Shows the amount of the RMD for 2015. If box 11 is checked and there is no

local governments.

amount in this box, the trustee or issuer must provide you the amount or offer to

Account number. May show an account or other unique number the trustee assigned

calculate the amount in a separate statement by February 2, 2015.

to distinguish your account.

Box 13a. Shows the amount of any postponed contribution made in 2014 for the prior year.

Box 1. Shows traditional IRA contributions for 2014 you made in 2014 and through

Box 13b. Shows the year to which the postponed contribution in box 13a was credited.

April 15, 2015. These contributions may be deductible on your Form 1040 or 1040A.

Box 13c. For participants who made a postponed contribution due to an extension of the

However, if you or your spouse was an active participant in an employer’s pension

contribution due date because of a federally designated disaster, shows the code FD.

plan, these contributions may not be deductible. This box does not include amounts in

For participants who served in designated combat zones, qualified hazardous duty areas, or

boxes 2–4, 8–10, 13a, and 14a.

in direct support areas, shows the appropriate code. The codes are: EO13239 for Afghanistan

Box 2. Shows any rollover, including a direct rollover to a traditional IRA or Roth IRA,

and associated direct support areas, EO12744 for the Arabian peninsula areas, and EO13119 (or

or a qualified rollover contribution (including a military death gratuity, SGLI payment, or

PL106-21) for the Yugoslavia operations areas. For additional information, including a list of

qualified settlement income) to a Roth IRA you made in 2014. It does not show any

locations within the designated combat zones, qualified hazardous duty areas, and direct

amounts you converted from your traditional IRA, SEP IRA, or SIMPLE IRA to a Roth

support areas, see Pub. 3, Armed Forces' Tax Guide. For updates to the list of locations, go to

IRA. They are shown in box 3. See the Form 1040 or 1040A instructions for information

on how to report rollovers. If you have ever made any nondeductible contributions to

Box 14a. Shows the amount of any repayment of a qualified reservist distribution or

your traditional IRA or SEP IRA and you did not roll over the total distribution, use

federally designated disaster withdrawal repayment. See Pub. 590 for reporting repayments.

Form 8606 to figure the taxable amount. If property was rolled over, see Pub. 590. For

a qualified rollover to a Roth IRA, also see Pub. 590.

Box 14b. Shows the code QR for the repayment of a qualified reservist distribution or

code DD for repayment of a federally designated disaster distribution.

Box 3. Shows the amount converted from a traditional IRA, SEP IRA, or SIMPLE IRA

to a Roth IRA in 2014. Use Form 8606 to figure the taxable amount.

Box 15a. Shows the FMV of the investments in the IRA that are specified in the

categories identified in box 15b.

Box 4. Shows amounts recharacterized from transferring any part of the contribution

(plus earnings) from one type of IRA to another. See Pub. 590.

Box 15b. The following codes show the type(s) of investments held in your account for

which the FMV is required to be reported in box 15a.

Box 5. Shows the FMV of all investments in your account at year end. However, if a

decedent’s name is shown, the amount reported may be the FMV on the date of

A-Stock or other ownership interest in a corporation that is not readily tradable on an

death. If the FMV shown is zero for a decedent, the executor or administrator of the

established securities market.

estate may request a date-of-death value from the financial institution.

B-Short or long-term debt obligation that is not traded on an established securities market.

Box 6. Shows for endowment contracts only the amount allocable to the cost of life

C-Ownership interest in a limited liability company or similar entity (unless the interest

insurance. Subtract this amount from your allowable IRA contribution included in box 1

is traded on an established securities market).

to compute your IRA deduction.

D-Real estate.

Box 7. May show the kind of IRA reported on this Form 5498.

E-Ownership interest in a partnership, trust, or similar entity (unless the interest is

Box 8. Shows SEP contributions made in 2014, including contributions made in 2014

traded on an established securities market).

for 2013, but not including contributions made in 2015 for 2014. If made by your

F-Option contract or similar product that is not offered for trade on an established

employer, do not deduct on your income tax return. If you made the contributions as a

option exchange.

self-employed person (or partner), they may be deductible. See Pub. 560.

G-Other asset that does not have a readily available FMV.

Box 9. Shows SIMPLE contributions made in 2014. If made by your employer, do not

H-More than two types of assets (listed in A through G) are held in this IRA.

deduct on your income tax return. If you made the contributions as a self-employed

person (or partner), they may be deductible. See Pub. 560.

Future developments. For the latest information about developments related to Form

5498 and its instructions, such as legislation enacted after they were published, go to

Form 5498 - Ira Contribution Information - 2014 Page 4

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