What Is Form 5498 is an informational IRS form that reports contributions to IRAs—Traditional, Roth, SEP, or SIMPLE—as well as rollovers and the account’s fair market value. It’s issued by your IRA trustee, not by you. Taxpayers use it to confirm contributions and rollovers were properly reported. The IRS uses this form to verify compliance with contribution limits. Form 5498 isn’t filed with your tax return but should be retained for reference, especially if you make deductible contributions or need to track rollover activity for future distributions.
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