Important note: This only applies to members who have HSA with Forma in 2022. If you are enrolled in Forma HSA in 2023 plan year, please reach out to your previous custodian to get your 2022 tax forms.
How do I get my 1099-SA and 5498-SA forms?
You will receive the IRS Form 1099-SA and IRS Form 5498-SA either by mail or electronically (based upon your elected delivery preference) regarding your HSA account. You can select your Tax Forms Delivery Preference or retrieve the forms with the following path:
Click the "Benefits" tab at the top of the page → Select your HSA account → Manage HSA → Pay Myself → Account Resources → Tax Form
IRS Form 1099-SA
IRS Form 1099-SA is provided for each HSA distribution you made in the current tax year. This should be completed by January 31 every year.
The 1099-SA will only generate if you made distributions from your HSA account in 2022. I.e. if you didn't have any distributions, you won't have a form.
IRS Form 5498-SA
IRS Form 5498-SA provides you with all the contributions made to your HSA during the tax year. This form isn’t available until May because you can make additional contributions to your prior-year HSA until April 18th per IRS regulation.
Form 5498-SA is for informational purposes only. It's not required for filing your taxes, and can simply be saved for your own personal record-keeping.
Learn more about HSA tax forms
You can see HERE for IRS Instructions for Forms 1099-SA and 5498-SA. These two forms are used to help you complete IRS Form 8889. Come tax time, anyone who contributed to or received a distribution from an HSA will need to fill out Form 8889. It would be attached to Form 1040 when you report the tax.
The purpose of these tax forms is to:
Report all contributions to your HSA in order to figure your tax deduction.
Report distributions from your HSA.
Determine the tax and penalty to be applied to any contributions you make in excess of your prorated ceiling if you lose your eligibility to fund your account during the calendar year.
Form 8889 has a line for reporting your direct contributions to your HSA, and you’ll carry that deduction to line 25 of your Form 1040. Ineligible payouts are taxable, and you need to report them on line 21 of Form 1040.
You must file Form 8889 if any of the following applies.
You (or someone on your behalf, including your employer) made contributions for the tax year to your HSA.
You received HSA distributions in the tax year.
You must include certain amounts in income because you failed to be an eligible individual during the testing period.
You acquired an interest in an HSA because of the death of the account beneficiary.
If you have any questions, please feel free to reach out to us via live chat, email email@example.com, or call us at 844-902-2902. We also suggest you check IRS.gov for the most recent updates or reach out to your tax consultant for professional help!