Coverdell ESA Contribution Information
Form 5498-ESA reports all contributions to Coverdell ESA accounts for tax year 2012. If you made a contribution (including rollovers, conversions, recharacterizations, and reconversions) to your Domini Coverdell ESA during 2012, you will receive a Form 5498-ESA.
Since contributions can be made until April 15, 2013 for 2012, your form will be mailed to you by April 30, 2013. The information is reported to the IRS, but you don’t have to file it with your 2012 tax return. Form 5498-ESA also reports the fair market value of your Coverdell ESA account as of December 31, 2012. This information may be reported to you on your year-end transaction history statement instead of Form 5498-ESA, since Form 5498-ESA will not be gengenerated if you did not make any contributions to your Coverdell ESA accounts.
Note: A direct trustee-to-trustee transfer will not generate a Form 5498-ESA.
This information is intended for general informational purposes only. It is not meant to be a substitute for professional tax advice. Please consult a professional advisor to determine your individual tax situation and for tax, legal, and investment advice. The information set forth above concerns only federal income tax, not state or local income tax, except where specifically noted.
Please refer to the Instructions for Recipients on the back of your income tax forms. Please also refer to IRS Publication 564, Mutual Fund Distributions, and IRS Publication 590, Individual Retirement Arrangements (IRAs) available at www.irs.gov or by calling the IRS at 1-800-TAX-FORM (1-800-829-3676).