Mysterious Tax Form Coming … The Extra Late Arriving Form 5498 !

During normal tax reporting years, just after the final push for regular Mid April filings is complete … along comes the late arriving Form 5498 in May …

This year with the extended regular filings, this mysterious tax form is making it’s way to us even later than normal!

Form 5498 – Who Get’s One and What it’s For

Form 5498 arriving any day now is the settle up for the IRS for most types of Rollovers …. it notifies the IRS that a distribution made in 2019 (yes way back in 2019) has been reinvested and is not taxable.

This form also notifies the IRS of other personal retirement plan contributions such as the SEP – Simplified Employee Pension Plan among others.

File it with you regular tax files but don’t worry that you have missed something… its for Uncle Sams use mostly!

Have a Great “Form 5498” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



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