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What is Form 5498-SA? Health Savings Accounts (HSAs) offer a tax-advantaged way to save for medical expenses, but navigating the associated tax forms can be confusing. One key document is Form 5498-SA, which reports your HSA contributions. In this guide, we’ll explain what Form 5498-SA is, how it relates to HSAs, current contribution limits, and how to use this information for your taxes. Whether you’re new to HSAs or need a refresher for the 2025 tax year (filed in 2026), this article covers everything you need to know.
What is Form 5498-SA?
Form 5498-SA is an IRS information return used by trustees or custodians of Health Savings Accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), or Medicare Advantage MSAs (MA MSAs) to report contributions made during the tax year. It’s not a form you file with your tax return—instead, it’s for your records and helps verify the contributions you report on your taxes.
The form includes details like:
- Employee or self-employed contributions to an Archer MSA (Box 1).
- Total contributions to your HSA or Archer MSA for the calendar year (Box 2).
- Contributions made in the following year for the prior tax year (Box 3), which accounts for deposits up to the tax filing deadline (typically April 15).
- Rollover contributions from another HSA or MSA (Box 4).
- Fair market value of the account at year-end (Box 5).
- Account type (Box 6), specifying if it’s an HSA, Archer MSA, or MA MSA.
This form ensures the IRS has a record of your contributions, which are tax-deductible if you’re eligible. Trustees must file it with the IRS by May 31 (or the next business day), and you’ll typically receive your copy around the same time—often in May or June—to include any last-minute contributions.
What Is a Health Savings Account (HSA)?
Before diving deeper into Form 5498-SA, let’s cover HSAs. An HSA is a tax-advantaged savings account for individuals enrolled in a high-deductible health plan (HDHP). Contributions are made pre-tax (or are deductible), earnings grow tax-free, and withdrawals for qualified medical expenses are tax-free—making it a “triple tax advantage.”
To qualify for an HSA in 2026:
- You must be covered by an HDHP with a minimum annual deductible of $1,700 for self-only coverage or $3,400 for family coverage.
- Maximum out-of-pocket expenses can’t exceed $8,500 (self-only) or $17,000 (family).
- You can’t be enrolled in Medicare or claimed as a dependent on someone else’s tax return.
HSAs are popular for their flexibility: Unused funds roll over year to year, and after age 65, you can withdraw for non-medical expenses (though subject to income tax, like a traditional IRA).
Key Information Reported on Form 5498-SA
Form 5498-SA primarily focuses on contributions, which can come from you, your employer, or rollovers. It doesn’t report distributions—that’s handled by Form 1099-SA.
Here’s a breakdown of what the form captures:
- Prior-Year Contributions: If you contribute to your 2025 HSA by April 15, 2026, it will appear on your 2025 Form 5498-SA (issued in 2026).
- Rollover Amounts: Transfers from another HSA or Archer MSA are noted separately.
- Year-End Value: The fair market value helps track your account’s growth.
If you don’t receive the form by June, contact your HSA custodian. Some providers, like Fidelity, may not issue it early but provide it in May to include all data.
HSA Contribution Limits for 2025 and 2026
Contribution limits are set annually by the IRS and adjust for inflation. These limits include both employee and employer contributions. Exceeding them can result in a 6% excise tax on the excess.
Use the table below for a quick comparison:
| Coverage Type | 2025 Maximum Contribution | 2026 Maximum Contribution | Catch-Up (Age 55+) |
|---|---|---|---|
| Self-Only | $4,300 | $4,400 | $1,000 |
| Family | $8,550 | $8,750 | $1,000 |
Sources: IRS adjustments for inflation.
For 2026, the limits increase by $100 for self-only and $200 for family coverage due to rising healthcare costs. The catch-up contribution for those 55 and older remains $1,000 and applies per person (so spouses can each add $1,000 if eligible).
Remember, you can contribute up to the limit prorated for the months you’re eligible. For example, if you’re covered for only 6 months in 2026 under self-only, your limit is $4,400 / 12 * 6 = $2,200.
How to Report HSA Contributions on Your Taxes?
You don’t attach Form 5498-SA to your tax return, but use it to complete Form 8889 (“Health Savings Accounts”), which is filed with your Form 1040. Here’s the process:
- Gather Documents: Your W-2 shows employer contributions (Box 12, code W). Form 5498-SA confirms total contributions, including your own.
- Deduct Contributions: Report them on Form 8889 to claim the deduction. Self-employed individuals deduct on Schedule 1.
- Handle Excess: If contributions exceed limits, withdraw the excess by your tax filing deadline to avoid penalties.
- File Electronically: Most tax software pulls in HSA data automatically if you input your forms.
For the 2025 tax year (filed by April 15, 2026), ensure contributions made after December 31, 2025, are designated as “prior-year” with your custodian.
Common Questions About Form 5498-SA and HSAs
When Will I Receive Form 5498-SA for 2025?
Typically in May 2026, as it includes contributions up to April 15, 2026.
What If My Form 5498-SA Shows Incorrect Information?
Contact your HSA provider immediately to request a corrected form.
Can I Contribute to an HSA If I’m on Medicare?
No, enrollment in Medicare disqualifies you from new contributions, though you can use existing funds.
Are HSA Contributions Tax-Deductible?
Yes, if made with after-tax dollars. Employer contributions are excluded from your income.
What’s the Difference Between Form 5498-SA and Form 1099-SA?
Form 5498-SA reports contributions; Form 1099-SA reports distributions.
Final Thoughts on Maximizing Your HSA
Form 5498-SA is a crucial tool for tracking your HSA contributions and ensuring accurate tax reporting. By understanding its role and staying within IRS limits, you can fully leverage the tax benefits of an HSA. For personalized advice, consult a tax professional, especially if your situation involves rollovers or mid-year eligibility changes. Start contributing early in 2026 to take advantage of the increased limits and build your healthcare savings tax-free.