www.hsabank.com
Open in
urlscan Pro
70.37.166.146
Public Scan
Submitted URL: http://hsabank.com/taxtime
Effective URL: https://www.hsabank.com/hsabank/learning-center/hsa-tax-time-101
Submission: On May 18 via api from US — Scanned from DE
Effective URL: https://www.hsabank.com/hsabank/learning-center/hsa-tax-time-101
Submission: On May 18 via api from US — Scanned from DE
Form analysis 2 forms found in the DOM
GET /hsabank/Search-Results
<form id="mobileSearchForm-modern" action="/hsabank/Search-Results" method="Get" class="mobileSearchForm">
<label for="mobileSearchInput" class="sr-only">Mobile Search Input</label>
<input type="text" name="query" id="mobileSearchInput" class="mobileSearchInput-modern col-xs-10 col-sm-11" placeholder="Search HSABank.com" autocomplete="off" required="">
<input type="hidden" name="pageSize" value="10">
<input type="hidden" name="pageNumber" value="0">
<button id="mobileSearchButton" type="submit" form="mobileSearchForm-modern" class="col-xs-2 col-sm-1 button white button-light-lime-green" value="SEARCH" role="button" aria-label="search"><i class="glyphicon glyphicon-search"></i></button>
</form>GET /hsabank/Search-Results
<form id="searchform-modern" action="/hsabank/Search-Results" method="Get" class="searchform-modern">
<label for="search-input" class="sr-only">Search Field Input</label>
<input id="search-input" type="text" name="query" class="searchfield" placeholder="Search" hsabank.com="" autocomplete="off" required="">
<input type="hidden" name="pageSize" value="10">
<input type="hidden" name="pageNumber" value="0">
<button type="submit" class="button standard-lightblue search_submit_btn" value="SEARCH">SEARCH</button>
</form>Text Content
Toggle navigation
Open an HSA Login
--------------------------------------------------------------------------------
CONTRIBUTING TO YOUR HEALTH SAVINGS ACCOUNT IS EASY.
Learn More
Open an HSA Login
--------------------------------------------------------------------------------
CONTRIBUTING TO YOUR HEALTH SAVINGS ACCOUNT IS EASY.
Learn More
Open an HSA Login
--------------------------------------------------------------------------------
CONTRIBUTING TO YOUR HEALTH SAVINGS ACCOUNT IS EASY.
Learn More
Mobile Search Input
* Members
* * Members
* Members Home
* Open an HSA
* Why Open an HSA
* How to Use Your HSA
* HSAs to Z
* How to Use Your FSA, HRA and Commuter Benefits
* Tools to Manage Your HSA
* Transfer/Rollover HSA Funds
* *
* HSA Self-Directed Investment Options
* TD Ameritrade HSA Investment Account
* Devenir HSA Investment Account
* Mobile Payments
* How to Access Tax Info
* HSAs and Exchanges
* Member FAQ
* IT'S EASY TO OPEN AN HSA
START YOUR ONLINE APPLICATION TODAY.
Sign Up
* Employers
* * Employers
* Employers Home
* Employer Sign-Up Form
* Why Choose HSA Bank?
* How to Start Your CDH Program
* Account-Based Benefit Solutions
* Insights
* Document Services
* Employer FAQs
* * Product Overview
* Health Savings Account (HSA)
* Healthcare Flexible Spending Account
* Dependent Care Flexible Spending Account
* Health Reimbursement Arrangement (HRA)
* Retiree Reimbursement Arrangement (RRA)
* Lifestyle Spending Account (LSA)
* Tuition Reimbursement Account (TRA)
* Commuter Benefits & Wellness Incentives
* Decision Support Tools
* HSA BANK HEALTH & WEALTH INDEXSM
INSIGHTS AND TIPS TO HELP YOU GUIDE EMPLOYEES TOWARD GREATER ENGAGEMENT.
View
* Partners
* * Partners
* Partners Home
* The HSA Bank Difference
* CDH Solutions for Agents/Brokers
* CDH Solutions for Health Plans
* CDH Solutions for Consultants
* CDH Solutions for Exchanges
* Investment Solutions for Advisors
* * Product Overview
* Health Savings Account (HSA)
* Healthcare Flexible Spending Account
* Dependent Care Flexible Spending Account
* Health Reimbursement Arrangement (HRA)
* Retiree Reimbursement Arrangement (RRA)
* Lifestyle Spending Account (LSA)
* Tuition Reimbursement Account (TRA)
* Commuter Benefits and Wellness Incentives
* Product Features
* Partner FAQs
* HSA BANK HEALTH & WEALTH INDEXSM
OUR FINDINGS AND INSIGHTS ON CONSUMERS' HEALTH AND WEALTH ENGAGEMENT.
View
* Learning Center
* * Learning Center
* Learning Center Home
* Product Overview
* Health Savings Account (HSA)
* Healthcare Flexible Spending Account
* Dependent Care Flexible Spending Account
* Health Reimbursement Arrangement (HRA)
* Retiree Reimbursement Arrangement (RRA)
* Lifestyle Spending Account (LSA)
* Tuition Reimbursement Account (TRA)
* Commuter Benefits & Wellness Incentives
* COBRA
* Direct Bill
* Tax Benefits of an HSA
* *
* Standard HSA Rates and Fee Schedule (may vary based on employer
relationship)
* IRS Contribution Limits & Guidelines
* IRS-Qualified Medical Expenses
* Health Account Videos
* Calculators & Tools
* Health Plan Comparison Calculator
* HSA Contribution Calculator
* HSA Savings Calculator
* Health & Wealth Index Calculator
* Learning Center FAQs
* IS AN HSA RIGHT FOR YOU?
TRY OUR NEW HEALTH PLAN COMPARISON CALCULATOR.
Compare Plans
* About
* * About Us
* About HSA Bank
* Careers
* In the News
* Events
* Contact Us
* Privacy
* *
* Leadership
* Sales Leadership
* In the Community
* Security
* JOIN OUR INDUSTRY LEADING TEAM
BE A PART OF A DYNAMIC COMPANY THAT'S LEADING THE WAY IN THE FAST-GROWING
HSA MARKET!
View Open Positions
* Contact
Open an HSA Login
--------------------------------------------------------------------------------
CONTRIBUTING TO YOUR HEALTH SAVINGS ACCOUNT IS EASY.
Learn More
Search Field Input SEARCH
Page Content
Learning Center / HSA Tax Time 101
HSA TAX TIME 101
HSA Tax Time 101 is a resource that provides answers to some of the most
frequently asked Health Savings Account (HSA) tax questions. We organized the
FAQs into three categories: Tax Documents; Contributions and Distributions; and
Tax Time Reminders. Please visit irs.gov for additional information and
resources, including IRS Publication 969, which explains the tax advantages and
requirements of an HSA.
Please note: HSA Bank does not provide legal or tax advice. Please contact your
tax professional with any tax-related questions.
YOU CAN STILL MAKE
AN HSA CONTRIBUTION
LEARN HOW
TAX DOCUMENTS
WHAT TAX DOCUMENTS WILL I GET FROM HSA BANK?
You may get both a 1099-SA and 5498-SA from us.
1099-SA
IMPORTANT: You WON'T receive this form if you DIDN'T withdraw funds from your
HSA in the prior year.
The 1099-SA is used to report any distribution (withdrawal) of funds from your
HSA during the prior year. You must report distributions from your HSA on IRS
Form 8889.
There’s a sample 1099-SA form from the IRS here. The HSA Bank 1099-SA form may
look slightly different, but it will contain the same information.
5498-SA
The 5498-SA form reports all contributions to your HSA for the prior year,
including those contributed between Jan. 1 and the tax filing deadline of the
current year. It also reports your HSA balance as of Dec. 31 of the prior year.
You’ll get an email once this form is available. If you chose to get paper
documents, you’ll get this form in the mail. You won’t get a 5498-SA form if you
didn’t have contributions and your balance was zero dollars at the end of the
year. You must report contributions from your HSA on IRS Form 8889. Get 5498-SA
information here.
There’s a sample 5498-SA form from the IRS here. The HSA Bank 5498-SA form may
look slightly different, but it will contain the same information.
This form is informational only and doesn’t need to be filed with your income
tax return.
Please talk to a tax advisor if you need help.
WHEN WILL I GET THE 1099-SA AND 5498-SA?
The 1099-SA form will be available mid-to-late January on the Member Website if
you had distributions in the prior year. If you chose to get paper documents,
you’ll get your 1099-SA in the mail in late January/early February.
IMPORTANT: You WON'T get the 1099-SA form if you DIDN'T withdraw funds from your
HSA in the previous year.
The 5498-SA form is typically delivered the month after the tax filing deadline,
allowing any contributions made in the current year for the prior year to be
included. (If you make additional HSA contributions for the prior year after the
5498-SA is issued, you’ll get an updated 5498-SA.)
You won’t get a 5498-SA form if you didn’t have contributions and your balance
was zero dollars at the end of the year.
Please note this form is informational only and doesn’t need to be filed with
your income tax return.
IF I DON’T HAVE A 5498-SA, HOW CAN I GET MY CONTRIBUTIONS BY TAX YEAR?
Log in to the Member Website. Click Cash Account on the left menu. Then click
View All. Go to the bottom of the page, and then click HSA Contributions By Tax
Year.
Note: You're responsible for verifying the accuracy of the applicable IRS
maximum each year based upon your situation.
HOW ARE MY TAX DOCUMENTS DELIVERED?
If you’re an online banking user, your tax documents will be available to you on
the Member Website. If you chose to get paper tax documents, you’ll get a copy
in the mail.
WHERE CAN I FIND MY TAX DOCUMENTS ON THE MEMBER WEBSITE?
Get your 1099-SA and 5498-SA forms in the Message Center or from the Resources
page. You won’t get a 5498-SA form if you didn’t have contributions and your
balance was zero dollars at the end of the year. Get 5498-SA information here.
CONTRIBUTIONS AND DISTRIBUTIONS
ARE HSA CONTRIBUTIONS TAXABLE?
No. Payroll deferral or employer pre-tax HSA contributions (up to the applicable
limit) reported on Form W-2 as non-taxable are excluded from your gross income.
You can claim a tax deduction for HSA contributions (up to the applicable limit)
made outside of payroll deferral, even if you don’t itemize your deductions on
Form 1040.
WHAT ARE THE IRS ANNUAL CONTRIBUTION LIMITS?
IRS contribution limits for individual and family plans typically increase every
year. Plus, individual accountholders age 55 and older can make an additional
$1,000 catch-up contribution. Eligible spouses over 55 can only make catch-up
contributions to his/her account. For more information, please visit our IRS
Guidelines and Eligible Expenses page.
IS THERE A CONTRIBUTION DEADLINE FOR HSAS?
Yes. Yearly contributions should be made by the federal tax filing deadline for
your state. Talk to a tax advisor or visit IRS.gov for details.
DOES FILING AN INDIVIDUAL INCOME TAX EXTENSION WITH THE IRS IMPACT THE ANNUAL
CONTRIBUTION DEADLINES?
No. Filing an individual extension has no bearing on the IRS annual contribution
deadline.
HOW ARE MY EMPLOYER’S CONTRIBUTIONS REPORTED?
Your employer’s HSA contributions are reported on your W2 and included as part
of the total account contributions listed on form 5498-SA.
ARE THERE RESTRICTIONS ON WHEN I MAY SCHEDULE A DISTRIBUTION?
You may withdraw money at any time for IRS-qualified medical expenses incurred
after your HSA was established.
HOW ARE EXCESS CONTRIBUTIONS CORRECTED?
HSA contributions that exceed the IRS annual limit must be removed by the tax
filing deadline or you can incur tax penalties and/or IRS fees. Excess
contribution removals are reported in the year in which the removal was made,
not in which the excess was made. For example, if you made excess contributions
in the prior year but remove the excess this year, you’ll get a current-year
1099-SA showing the removal. Even when the excess is removed, please note that
the 5498-SA will always show the contribution.
TAX TIME REMINDERS
DOES HSA BANK PROVIDE TAX OR LEGAL ADVICE?
No. HSA Bank doesn’t provide tax or legal advice. Please talk to a qualified tax
or legal professional if you need advice on your specific situation.
WHAT AM I REQUIRED TO DO IF I LOSE MY HEALTH INSURANCE?
If you lose your health insurance, you’re required to prorate the contribution
limits for the months in which you had insurance within the calendar year.
WHAT HAPPENS TO MY HSA WHEN I ENROLL IN MEDICARE?
HSA eligibility ends upon enrolling in Medicare. You can still contribute the
prorated IRS contribution limit until the IRS contribution deadline. Once you
enroll in Medicare, you can keep the account open and continue to use funds
already in the account.
AM I REQUIRED TO KEEP RECEIPTS AND RECORDS?
While you’re not required to submit any receipts to HSA Bank for your HSA, you
absolutely should save any receipts and Explanation of Benefits (EOBs) for
IRS-qualified medical expenses for tax purposes. Using our online expense
tracker, you can easily enter and track these expenses when you securely upload
receipts and supporting documentation.
WHAT’S THE LAST-MONTH RULE?
According to the last-month rule, if you’re eligible on the first day of the
last month of your tax year (Dec. 1 for most taxpayers), you’re considered
eligible for the entire year. Therefore, you’re treated as having the same HDHP
coverage for the entire year as you had on the first day of that last month.
WHAT’S THE TESTING PERIOD FOR THE LAST-MONTH RULE?
If contributions were made to your HSA based on you being eligible for the
entire year under the last-month rule, you must remain eligible during the
testing period. For the last-month rule, the testing period begins with the last
month of your tax year and ends on the last day of the 12th month following that
month. (For example: Dec. 1 of the prior year through Dec. 31 of this year.)
CONTACT US
×
Client Assistance Center
(800) 357-6246 | (414) 978-5294
24 hours a day, 7 days a week
Business Relations
(866) 357-5232 | (414) 978-5282
Mon-Fri 7am-7pm, CT
* More Information
CONTACT US
Client Assistance Center
(800) 357-6246 | (414) 978-5294
24 hours a day, 7 days a week
Business Relations
(866) 357-5232 | (414) 978-5282
Mon-Fri 7am-7pm, CT
* More Information
ABOUT
×
* About Us
* Careers
* Events
* In the News
* Leadership
* Sales
RESOURCES & SERVICES
×
* Healthcare Decision Tools
* IRS Information and Forms
* Site Map
RESOURCES & SERVICES
* Healthcare Decision Tools
* IRS Information and Forms
* Site Map
SECURITY & LEGAL
×
* Browser Information
* Privacy
* Security
* Website Terms of Use
* Webster Bank Financial Information
SECURITY & LEGAL
* Browser Information
* Privacy
* Security
* Website Terms of Use
* Webster Bank Financial Information
CONTACT US
Client Assistance Center
(800) 357-6246 | (414) 978-5294
24 hours a day, 7 days a week
Business Relations
(866) 357-5232 | (414) 978-5282
Mon-Fri 7am-7pm, CT
* More Information
ABOUT
* About Us
* Careers
* Events
* In the News
* Leadership
* Sales
RESOURCES & SERVICES
* Healthcare Decision Tools
* IRS Information and Forms
* Site Map
SECURITY & LEGAL
* Browser Information
* Privacy
* Security
* Website Terms of Use
* Webster Bank Financial Information
CONNECT WITH US
© 2023 HSA Bank. HSA Bank® is a division of Webster Bank, N.A., Member FDIC.
Learn about FDIC insurance coverage | PrivacyLink to privacy statements
Plan Administrative Services and Benefit Services are administered by Webster
Servicing LLC.
IMPORTANT NOTIFICATION
By accessing you will be leaving the HSA Bank web site and entering a web site
hosted by another party. Please be advised that you will no longer be subject
to, or under the protection of, the privacy and security policies of the HSA
Bank web site. We encourage you to read and evaluate the privacy and security
policies of the site you are entering, which may be different than those of HSA
Bank. HSA Bank shall not be responsible or liable for any loss incurred due to
you using this third party site.
Click "Continue" to go on, or "Cancel" to remain at HSA Bank.
Cancel | Continue