What is a 5498-SA form, and do employees need to do anything with it?

[tanjirookamado]

Several employees received a 5498-SA in the mail and are asking if they need to file it with their taxes. It's an informational form that reports HSA or MSA contributions for the year — employees typically don't need to take any action beyond keeping it for their records. Should we be sending a short explainer to employees every year to prevent the confusion?

 

[Henry]

A 5498-SA form reports contributions to HSAs, MSAs, or Medicare Advantage MSAs. Employees don’t need to file it with taxes, but should keep it for records and verify contribution accuracy.