What is Form 5498 and is it required to be filed?
info accountinglads
Student
- 0
- 8
- 0
Form 5498 is an informational form given by the IRS to the contribution and account balance of retirement accounts. It is provided by the banks, brokerages and financial institutions which handle IRA. Form 5498 is not filed by the taxpayers, but it is forwarded directly to the IRS. The form is usually released after the deadline of the tax filing due date as it contains the contributions that were made till April 15. Though not necessary in filing taxes, we should have Form 5498 in your records so as to be used in claiming contributions and accuracy on retirement planning.
- 14 Jan, 2026
Replies (0)
Suggested Topics
Academics
Case based question of function
Southwest Hospital has an operating room used only for eye surgery. The annual cost of rent, heat, and electricity for the operating room and its equipment is $360,000. The annual salaries of the people who...
- By Student Apozee
- Student
- 24 Dec, 2023
- 1
- 820
- 4
Academics
Application of function in business and economics
A firm sells a single product for $65 per unit. Variable costs per unit are $20 for materials and $27 for labor. Annual fixed cost is $100,000. Construct the profit function stated in terms of x, the number of units produced and sold. What profit is earned if annual sales...
- By Student Apozee
- Student
- 24 Dec, 2023
- 1
- 478
- 1
Academics
Case based question of Sets
A politician is trying to win election to the city council, and as his campaign manager, you need to decide how to promote the candidate.There are three ways you can do so:a. You can send glossy.full-color pamphlets to registered voters of the city,b. You can run a commercial during the television news on a local cable network,...
- By Harit Thakuri
- Instructor
- 24 Dec, 2023
- 22
- 609
- 1
Academics
Inverse Circular Function
Determine the principal value of cos
- By Ram Lama
- Student
- 25 Dec, 2023
- 0
- 427
- 1
Community Blog Articles
Nepal Bank Limited Job Vacancy Announcement 2081
Nepal Bank Limited, the first commercial bank in Nepal, has announced a vacancy for multiple positions. The bank invites applications from eligible Nepali ci...
Shikshak Sewa Aayog (TSC) Vacancy for Lower Second...
The Teacher Service Commission (TSC) of Nepal, based in Sanothimi, Bhaktapur, has announced an open competitive examination for the position of Lower Secondar...