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Form 5498-ESA

Form 5498-ESA
Who needs its?
Investors who made a contribution (including rollovers, conversions, recharacterizations and reconversions) to a Coverdell ESA.
When is it mailed by?
By the first business day on or after April 30.

Coverdell ESA Contribution Information

Form 5498-ESA reports all contributions to Coverdell ESA accounts for tax year 2015. If you made a contribution (including rollovers, conversions, recharacterizations, and reconversions) to your Domini Coverdell ESA during 2015, you will receive a Form 5498-ESA.

Since contributions can be made until April 18, 2016 (April 19 in Maine and Massachusetts) for 2015, your form will be mailed to you by April 30, 2016. The information is reported to the IRS, but you don’t have to file it with your 2015 tax return. Form 5498-ESA also reports the fair market value of your Coverdell ESA account as of December 31, 2015. 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.