Form 5498 - Ira Contribution Information - 2016 (Page 4 of 6) in pdf

Instructions for Participant

Box 10. Shows Roth IRA contributions you made in 2016 and through April 18, 2017.

Do not deduct on your income tax return.

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

Box 11. If the box is checked, you must take an RMD for 2017. An RMD may be

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

required even if the box is not checked. If you do not take the RMD for 2017, you are

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

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

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

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

see Pubs. 590-A, 590-B, and 560.

avoid the 50% excise tax on the undistributed amount for 2017.

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

Box 12b. Shows the amount of the RMD for 2017. If box 11 is checked and there is no

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

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

reported your complete identification number to the IRS.

calculate the amount in a separate statement by January 31, 2017.

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

Box 13a. Shows the amount of any postponed contribution made in 2016 for a prior year.

assigned to distinguish your account.

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

Box 1. Shows traditional IRA contributions for 2016 you made in 2016 and through

April 18, 2017. 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 a qualified rollover contribution (including a military death gratuity, SGLI payment, or

(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 2016. 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. 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

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

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

federally designated disaster withdrawal repayment. See Pub. 590-A for reporting

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

repayments.

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

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

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

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

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

to a Roth IRA in 2016. Use Form 8606 to figure the taxable amount.

categories identified in box 15b.

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

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

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

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

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

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

established securities market.

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

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

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

to compute your IRA deduction.

interest is traded on an established securities market).

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

D—Real estate.

Box 8. Shows SEP contributions made in 2016, including contributions made in 2016

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

for 2015, but not including contributions made in 2017 for 2016. If made by your

traded on an established securities market).

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

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

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

option exchange.

Box 9. Shows SIMPLE contributions made in 2016, including contributions made in

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

2016 for 2015, but not including contributions made in 2017 for 2016. If made by your

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

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

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

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

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

Form 5498 - Ira Contribution Information - 2016 Page 4

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