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Overview

eFile Form 5498 Online

Easily prepare and file Form 5498 with eFileMyForms to report IRA contribution information accurately and securely.

What is Form 5498?

Form 5498 is an IRS information return used to report details about Individual Retirement Accounts (IRAs) to the Internal Revenue Service.

The form provides a summary of key IRA activity for the tax year, including:

  • IRA contributions

  • Roth IRA conversions

  • Rollovers

  • Required Minimum Distributions (RMDs)

  • The fair market value (FMV) of the IRA account

Form 5498 is typically filed by the IRA trustee or custodian and helps the IRS verify retirement account activity and compliance.

 

What Does Form 5498 Report?

Form 5498 is used to report IRA-related activity to the Internal Revenue Service. The form captures key information about contributions and certain account events that occur during the tax year.

The following items are reported on Form 5498:

  • IRA contributions
    Any reportable contributions made to an IRA, including traditional and Roth IRA contributions, must be reported.

  • Roth IRA conversions
    If funds were converted from a traditional IRA to a Roth IRA, the total amount converted is reported on Form 5498.

  • Revoked or closed IRAs
    If an IRA is revoked or an account is closed, any contributions made before the revocation or closure must still be reported.

Form 5498 helps the IRS track retirement contributions and ensure compliance with annual limits and reporting requirements.

Form 5498 IRS Deadlines

For the 2025 tax year, the Internal Revenue Service sets the following deadlines for Form 5498:

  • June 1, 2026 – Deadline to file Form 5498 electronically with the IRS

  • February 2, 2026 – Deadline to furnish participant copies that report Fair Market Value (FMV) and Required Minimum Distribution (RMD) information

  • June 1, 2026 – Deadline to furnish participant copies for all other IRA details reported on Form 5498

If a deadline falls on a weekend or federal holiday, it moves to the next business day

Note: If January 31st falls on a weekend, the due date will be the next business day. Exact deadlines for each year can be found on the IRS website

Information Needed to File Form 5498

To accurately complete Form 5498, the following information must be collected and reported to the Internal Revenue Service.

1. Trustee or Issuer Information

Details about the IRA trustee or custodian:

  • Legal name

  • Mailing address

  • Taxpayer Identification Number (TIN)

2. Participant Information

Information for the IRA owner:

  • Name

  • Address

  • TIN

3. Contribution Details

Report all applicable contribution activity, which may include:

  • Traditional IRA contributions

  • Rollover contributions

  • Roth IRA conversion amounts

  • Recharacterized contributions

  • SEP contributions

  • SIMPLE IRA contributions

  • Roth IRA contributions

4. Fair Market Value (FMV)

  • The fair market value of the IRA account as of the applicable reporting date

5. IRA Account Type

Indicate the type of IRA using the appropriate checkboxes:

  • Traditional IRA

  • SEP IRA

  • SIMPLE IRA

  • Roth IRA

6. Required Minimum Distribution (RMD) Information

If applicable, include:

  • RMD date

  • RMD amount

How to File Form 5498 Online with eFile My Forms

Filing your 5498 forms online is faster, more accurate, and more affordable than traditional paper filing. Our streamlined process takes just minutes:

Step 1: Enter Payee and Payer Details

Choose the method that works best for your business:

  • Manual entry: Perfect for businesses filing 1-10 forms
  • Excel/CSV upload: Bulk import for 10-100 forms using our template

Step 2: Enter Form 1098 Information

Complete all required information for Form 1098 and put in total amounts for each box. 

Step 3: Review and Validate

Our system automatically checks for common errors including:

  • Missing or invalid TIN numbers
  • Incorrect name/TIN combinations
  • Address formatting issues
  • Missing required information

Step 4: Submit and Deliver

Once you approve your forms:

  • We e-file directly with the IRS (same business day for submissions before 5 PM ET)
  • Recipient copies are printed and mailed via USPS
  • You receive confirmation of IRS acceptance
  • All forms stored securely for 3+ years

Get Starting Filing Form 5498 Today

Frequently Asked Questions to IRS Form 5498 

Who Must File Form 5498?

Form 5498 must be filed by financial institutions, banks, IRA custodians, or trustees that maintain IRAs on behalf of account holders.

This requirement applies to all IRA types, including:

  • Traditional IRAs

  • Roth IRAs

  • SEP IRAs

  • SIMPLE IRAs

  • Deemed IRAs under Section 408(q)

When is the deadline for filing Form 5498?

For the 2025 tax year, the following deadlines apply:

  • June 1, 2026 – Deadline to file Form 5498 electronically with the IRS

  • February 2, 2026 – Deadline to furnish participant copies reporting FMV and RMD information

  • June 1, 2026 – Deadline to furnish participant copies for all other IRA details

If a due date falls on a weekend or federal holiday, it moves to the next business day.

 

What are individual retirement accounts? 

 

Individual Retirement Arrangements (IRAs) are tax-advantaged savings accounts designed to help individuals save for retirement.

Common IRA types include traditional IRAs and Roth IRAs, each offering different tax treatment and eligibility rules. Individuals can open an IRA through a bank, insurance company, or other financial institution authorized to act as an IRA custodian or trustee.

Start Filing Your 5498 Forms Online Today

Simplify Form 5498 reporting. Get started with eFileMyForms today.