The IRS recently released its 2024 Instructions for Forms 1099-SA and 5498-SA. These instructions cover reporting of distributions from an HSA, Archer MSA, or Medicare Advantage MSA, and HSA, Archer MSA, or Medicare Advantage MSA Information. Both forms and the instructions are part of the IRS Continuous Use set, which means that these forms and instructions are not necessarily updated yearly, but instead only when the rules for reporting change.
This year, there were no substantive changes to the instructions, and only a handful of changes made at all. The instructions have been updated for the 2024 tax year, meaning that the Instructions year has been updated to 2024, and all due dates and cutoff dates have been updated to reflect the applicable dates for 2024 as well. The only other changes were that the term “Individual Retirement Arrangement” has been added next to its acronym, IRA for clarification purposes, and a couple of minor editorial changes have also been made.
To see the instructions, click here.
For more information about Form 1099-SA, click here.
For more information about Form 5498-SA, click here.
