Health and Benefits Updates

IRS Posts 2022 Form 5498-SA for HSA, MSA Reporting

The IRS has posted at its website the 2022 tax year version of Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information. This form is used to report annual contributions, rollovers, fair market value, and taxpayer-specific information for these accounts, which are designed for the accumulation of funds for healthcare expenses, in association with a high deductible health insurance plan.

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.