Health and Benefits Updates

2022 Reporting Instructions for HSAs and MSAs

The IRS has posted 2022 Instructions for Forms 1099-SA and 5498-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA, and HSA, Archer MSA, or Medicare Advantage MSA Information. These forms are used when administering health savings accounts (HSA), Archer Medical Savings Accounts (Archer MSA), and Medicare Advantage Medical Savings Accounts (MA MSA). The instructions will be reviewed and additional details provided as warranted.

Government Savings Health and Welfare Forms and Publications Savings Individual

Regulatory and Legislative

IRS Provides 2024 Electronic Filing Relief for Form 5330

The IRS notes in a new post that electronic filing of Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, will not be required for the remainder of the 2024 taxable year—confirming that taxpayers may continue to file by paper.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for New Hampshire Severe Storms

The Federal Emergency Management Agency issued a Major Disaster Declaration on July 10, 2024, for New Hampshire severe winter storm and flooding.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Texas Hurricane Beryl

The Federal Emergency Management Agency issued a Major Disaster Declaration on July 9, 2024, for Texas hurricane Beryl.