The IRS has updated Form 5498-QA (ABLE Account Contribution Information), along with the accompanying Instructions for Forms 1099-QA and 5498-QA, to the December 2026 revision. Form 5498-QA is used by states, agencies, and instrumentalities that maintain qualified ABLE programs to report ABLE account contribution information. Both the form and instructions have been converted from an annual revision to continuous use.
The most notable change appearing on the form is the addition of a new Box 8, “Trump account to ABLE rollover,” which reports the rollover of the entire balance from a designated beneficiary’s Trump account to their ABLE account in the year the beneficiary turns 17. The issuer’s and beneficiary’s information have been expanded into individual boxes, and year-specific references have been replaced with “the calendar year shown on this form” to align with the continuous nature of the form.
The instructions reflect several substantive changes beyond the new Box 8. For tax years beginning after December 31, 2025, the age limit for establishing eligibility based on blindness or disability increased from 26 to 46. The contribution limit and poverty-line amounts have been removed, as these figures are adjusted annually for inflation, and filers are directed to IRS.gov/InflationAdjustment and the Health and Human Services (HHS) poverty guidelines to determine the current-year amounts.
For more detail, see the updated Form 5498-QA and the Instructions for Forms 1099-QA and 5498-QA.
