What tax forms will I receive? What is reported to the IRS?

Two tax forms will be sent to you and the IRS. The first is Form 1099-SA. This form is sent no later than January 31. Form 1099-SA indicates the distributions made from your health savings account during the calendar year. The amount in Box 1 of your 1099-SA will be reported on Line 14a of Form 8889. (Form 8889 is required when filing your taxes if you have a health savings account).

The second form sent to you is Form 5498-SA. This form is sent out no later than May 31st, but definitely after the tax filing deadline of April 15. Form 5498-SA cannot be sent any earlier because taxpayers have until April 15 to make contributions to the prior year’s HSA. This form includes ALL contributions made between January 1 of the reportable tax year (e.g. 2011) and April 15 of the following tax year (e.g. 2012). Box 1 will be blank unless you have an MSA. Box 2 indicates all the contributions made to your HSA in 2011, including any contributions made for 2010 in 2011. Do not report this on your Form 8889. Box 3 indicates the HSA contributions made in 2012 for 2011. Note that both boxes 2 and 3 may, or may not, match the amount reported on line 2 of Form 8889.

What tax forms do I need to complete?

All taxpayers who have a health savings account must complete Form 8889 if:

• they, or someone on their behalf, made contributions for 2011 to their HSA.
• they received any HSA distributions in 2011.
• they failed to be an eligible individual during the testing period.
• they acquired an interest in an HSA because of the death of the account beneficiary.

Where can I find Tax forms?

• Click for Form 8889.
• Click for Instructions for Form 8889.