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.
August 2020 Podcast Video, Financial Planning and Capital Market Update – By John Kvale …
Hello and Welcome to our August 2020 Financial Planning and Capital Market Update!
If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!
Newbies –
We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets and current events!
Hope you enjoy!
August – 2020 Video (YouTube)
Financial Planning Tip –
Mysterious Form 5498
In a luckily timed post (two showed up in the mailbox the same day of the reminder) here we discussed the extra late arriving Form 5498.
This is a confusing settle up form that requires not action other that to add to your tax file in order to avoid unnecessary taxes!
Fraud Wire Delay Reminder
In this post we remind those setting up new Wire/Linking instructions to financial accounts, especially non liked titled accounts to be careful and have patience.
Fraudsters are attempting to take advantage of the situation!
Capital Market Comments
Gone Too Far
You know us to be very positive – all through the many negatives that have occurred !
You also know we will call it like we see it!
Markets have officially gone too far and are ahead of themselves, expect bumps and no extra risk taking is warranted at this time – CAREFUL!
Have a Great August Update!
Talk to you at the end of September!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents
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Posted in Cyber, General Financial Planning, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Video
Tagged Form 5498, Fraud, Linking Accounts, Markets, taxes, Wire Fraud