File Form 5498 Online for 2026 Tax Year

What Is Form 5498?

Form 5498, IRA Contribution Information, is the IRS information return used to report contribution and account information for an individual retirement arrangement (IRA).

The form captures contributions, rollovers, conversions, recharacterizations, fair market value, and required minimum distribution information, and certain repayments and postponed contributions for each IRA maintained by the trustee or issuer.

Who Must File Form 5498?

The IRS instructs trustees or issuers to file Form 5498 for each person for whom they maintained any individual retirement arrangement, including a deemed IRA under section 408(q).

In practice, this covers any trustee or issuer maintaining an IRA, whether it's a traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Roth SEP IRA, or Roth SIMPLE IRA.

If a participant has multiple IRAs, a separate Form 5498 is prepared for each account or plan.

What Must Be Reported on Form 5498?

Form 5498 captures the following items across its current box structure:

• IRA contributions, other than amounts reported in Boxes 2 through 10 (Box 1)
• Rollover contributions (Box 2)
• Roth IRA conversion amount from an IRA to a Roth IRA (Box 3)
• Recharacterized contributions (Box 4)
• Fair market value of the account as of December 31 (Box 5)
• Life insurance cost included in Box 1, if applicable (Box 6)
• Account type checkboxes: IRA, SEP, SIMPLE, Roth IRA, Roth SEP IRA, or Roth SIMPLE IRA (Box 7)
• SEP contributions (Box 8)
• SIMPLE contributions (Box 9)
• Roth IRA contributions (Box 10)
• Required minimum distribution checkbox, date, and amount (Boxes 11, 12a, 12b)
• Postponed contributions, contribution year, and code (Boxes 13a-c)
• Repayments and repayment code (Boxes 14a-b)
• FMV of certain specified assets (Box 15a) and code identifying the type of asset (Box 15b)

What's New in Form 5498 for the 2026 Tax Year?

The IRS About page for Form 5498 lists no recent developments at this time. Filers should continue using the current Instructions for Forms 1099-R and 5498 when preparing 2026 returns.

Beginning with tax year 2026 filings submitted during filing season 2027, Information Reporting Intake System (IRIS) is the IRS intake system for filing applicable information returns because FIRE will no longer accept submissions after its 2026 shutdown.

Form 5498 Filing Requirements

Before filing, IRA trustees, custodians, and issuers should make sure their records reflect every reportable contribution, rollover, conversion, recharacterization, and fair market value figure for each account.

The trustee or issuer maintains the form's data, and the participant relies on the figures for tax records.

A few essentials to keep in mind:

• Form 5498 has no flat dollar threshold. The filing trigger is maintaining any IRA for a person during the year.
• Both an IRS filing and a participant statement are required for each account.
• For account types, complete the appropriate Box 7 checkbox: IRA, SEP, SIMPLE, Roth IRA, Roth SEP IRA, or Roth SIMPLE IRA.
• If a required minimum distribution applies for the next year, check Box 11 and complete Boxes 12a (RMD date) and 12b (RMD amount) where required.
• eFiling is required if you file 10 or more information returns in aggregate during the year, unless an IRS waiver applies.
• To correct Form 5498, file a corrected return through IRIS or on paper using the IRS correction procedures. For incorrect dollar amounts, check the “CORRECTED” box and file one corrected return with the updated information. For incorrect recipient TINs, names, or wrong form types, first file a corrected return showing zero amounts with the original incorrect information, then file a new return with the correct information. Furnish corrected participant statements and file Form 1096 with paper corrections when required.

The penalty for failure to timely file Form 5498 is $50 per return with no maximum, unless the failure is due to reasonable cause.

Form 5498 Due Dates for the 2026 Tax Year

Form 5498 has different filing and furnishing deadlines because IRA contributions for a tax year can often be made until the due date of the individual’s federal income tax return, excluding extensions. Since some contributions may be made after the calendar year ends, the IRS allows additional time for trustees and issuers to report final contribution amounts and related IRA information accurately.

For TY 2026 information reported in 2027, the IRS deadlines are:

How to eFile Form 5498 with 1099Online

1099Online provides IRA trustees, custodians, and issuers with a guided way to file Form 5498 and securely submit it to the IRS through the Information Reporting Intake System.

Step 1: Enter Form Data

Sign in, select Form 5498, and add your business details and EIN/TIN information. Enter participant and IRA data manually or use the Excel bulk import for high-volume filings.

Step 2: Complete Participant and IRA Information

Add each participant's name, address, and Social Security number, along with contributions (Box 1), rollovers (Box 2), Roth conversions (Box 3), recharacterizations (Box 4), fair market value (Box 5), the appropriate account-type checkbox (Box 7), and any RMD information required for the next year.

Step 3: Generate Participant Copies

Choose how participants receive their copies. 1099Online supports password-protected email delivery and USPS print-and-mail to help meet the participant statement furnishing deadlines.

Step 4: Review and Transmit

Review the filing summary and submit Form 5498 to the IRS through 1099Online. If a return is rejected, you can reFile the corrected Form at no extra cost with 1099Online.

Frequently asked questions