Introduction
Being aware of reporting and other deadlines that apply to individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and Coverdell Education Savings Accounts (CESAs) is critical for custodians and trustees to ensure compliance and avoid potential penalties. Meeting the defined deadlines to provide the necessary documents to the Internal Revenue Service (IRS) and account owners will ensure that all parties have the necessary information for tax reporting. Below, you will find tables detailing the key reporting deadlines for each account type.
IRA reporting deadlines
The reporting deadlines that apply to traditional (including simplified employee pension – SEP), Roth, and Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRAs generally follow similar timelines. These dates encompass important submissions such as Form 1099-R for distributions and Form 5498 for contributions. Custodians and trustees should review these deadlines to ensure compliance with IRS requirements.
