Form 5498: The IRA Contribution Statement and What Its Boxes Mean
Published November 7, 2026
Form 5498 is the yearly report a trustee or custodian files about an individual retirement arrangement (IRA). It shows contributions, rollovers, and the value of the account at the end of the year. The Instructions for Forms 1099-R and 5498 (2025) explain each box. This post is general information. It is not advice about your own account.
Who prepares this form
The trustee or custodian of the IRA prepares Form 5498. You do not attach it to your tax return. The instructions say the trustee must file Form 5498 with the IRS by June 1, 2026, for each person for whom it maintained an IRA in 2025. A deemed IRA under section 408(q) counts too.
You should also get a statement. The instructions say that by February 2, 2026, the trustee must give each participant a statement of the account's value on December 31, 2025. That statement also covers the required minimum distribution (RMD), if one applies.
The boxes that matter most
- Box 1, IRA contributions. Gross contributions made in 2025, plus contributions made from January 1 through April 15, 2026 that are designated for 2025.
- Box 2, Rollover contributions. Rollovers received in 2025, such as a direct rollover from a workplace retirement plan.
- Box 4, Recharacterized contributions. Amounts moved from one type of IRA to another, plus earnings.
- Box 5, Fair market value. The value of the account on December 31, 2025. The instructions say trustees must value IRA assets each year, including assets with no readily determinable market value.
- Box 7, Checkboxes. The type of account: IRA, SEP, SIMPLE, or Roth IRA.
Employer contributions
Box 8 holds employer contributions to a SEP IRA, including salary deferrals under a SARSEP. A self-employed person's own SEP contributions also go in box 8. Box 9 holds employer contributions, including salary deferrals, to a SIMPLE IRA. Do not put those amounts in box 1.
What goes in box 1
Report gross contributions, including any excess contribution, even if you withdrew the excess. The instructions state the 2025 regular IRA contribution limit: $7,000, or $8,000 for a participant age 50 or older. Box 1 does not include rollovers or recharacterizations. Those amounts go in boxes 2 and 4.
For contributions made between January 1 and April 15, 2026, the trustee should obtain the participant's designation of the year for which each contribution is made.
When the form still applies
The form is still required when RMDs have started. The instructions say a trustee must file Form 5498 even if required minimum distributions or annuity payments have started.
One form can cover several investments. If one IRA holds three certificates of deposit, one Form 5498 reports all contributions and the value of the three CDs. If you have two IRA plans with the same trustee, the trustee files a separate Form 5498 for each plan.
Recharacterizations and corrections
A recharacterization moves a contribution from one IRA to another IRA. The first trustee reports the contribution on Form 5498 and reports the move as a distribution on Form 1099-R. The second trustee reports the amount it received in box 4. If a trustee finds an error after filing, the instructions say to correct it as soon as possible with a corrected Form 5498.
What to do with your statement
- Compare box 1 with your own records of IRA contributions.
- Check that box 7 shows the right type of account.
- Keep the statement with your retirement records.
If the numbers do not match what you put in, read Too Much in an IRA? The 6% Tax and How to Fix It. For the deduction rules, read Traditional IRA Contributions: How the Tax Deduction Works. For a nondeductible IRA, see Form 8606: Tracking Nondeductible IRA Money.
Sources: Sources: IRS, Instructions for Forms 1099-R and 5498 (2025) (https://www.irs.gov/pub/irs-prior/i1099r--2025.pdf) This is general information, not advice about your specific return.
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