IRS Form 5498-ESA 2019 Coverdell Esa Contribution Information

What Is Form 5498-ESA?

IRS Form 5498-ESA, Coverdell ESA Contribution Information is a form that trustees or issuers of a Coverdell education savings account (ESA) must file with the Internal Revenue Service (IRS) for each person an ESA was maintained for.

This form is used to report amounts of contributions (including rollover contributions) to a Coverdell ESA, and the fair market value (FMV) of an account for the calendar year. The form is issued by the IRS and is revised annually. A fillable IRS Form 5498-ESA is available for download below.

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CORRECTED
7272
TRUSTEE’S or ISSUER’S name, street address, city or town, state or
1 Coverdell ESA contributions
OMB No. 1545-1815
province, country, and ZIP or foreign postal code
Coverdell ESA
2019
$
Contribution
2 Rollover contributions
Information
5498-ESA
$
Form
Copy A
TRUSTEE’S/ISSUER’S TIN
BENEFICIARY’S TIN
For
Internal Revenue
BENEFICIARY’S name
Service Center
File with Form 1096.
Street address (including apt. no.)
For Privacy Act and
Paperwork Reduction
Act Notice, see the
City or town, state or province, country, and ZIP or foreign postal code
2019 General
Instructions for
Certain Information
Account number (see instructions)
Returns.
5498-ESA
Form
Cat. No. 34011J
www.irs.gov/Form5498ESA
Department of the Treasury - Internal Revenue Service
Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page
VOID
CORRECTED
7272
TRUSTEE’S or ISSUER’S name, street address, city or town, state or
1 Coverdell ESA contributions
OMB No. 1545-1815
province, country, and ZIP or foreign postal code
Coverdell ESA
2019
$
Contribution
2 Rollover contributions
Information
5498-ESA
$
Form
Copy A
TRUSTEE’S/ISSUER’S TIN
BENEFICIARY’S TIN
For
Internal Revenue
BENEFICIARY’S name
Service Center
File with Form 1096.
Street address (including apt. no.)
For Privacy Act and
Paperwork Reduction
Act Notice, see the
City or town, state or province, country, and ZIP or foreign postal code
2019 General
Instructions for
Certain Information
Account number (see instructions)
Returns.
5498-ESA
Form
Cat. No. 34011J
www.irs.gov/Form5498ESA
Department of the Treasury - Internal Revenue Service
Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page
CORRECTED
TRUSTEE’S or ISSUER’S name, street address, city or town, state or
1 Coverdell ESA contributions
OMB No. 1545-1815
province, country, and ZIP or foreign postal code
Coverdell ESA
2019
$
Contribution
2 Rollover contributions
Information
5498-ESA
$
Form
Copy B
TRUSTEE’S/ISSUER’S TIN
BENEFICIARY’S TIN
For Beneficiary
BENEFICIARY’S name
This information
is being furnished
to the IRS.
Street address (including apt. no.)
City or town, state or province, country, and ZIP or foreign postal code
Account number (see instructions)
5498-ESA
(keep for your records)
Form
www.irs.gov/Form5498ESA
Department of the Treasury - Internal Revenue Service
Instructions for Beneficiary
If the total contributions made to all your Coverdell ESAs
The information on Form 5498-ESA is furnished to you by
for 2019 exceeded $2,000, you must withdraw the excess,
the trustee or issuer of your Coverdell education savings
plus earnings, by June 1, 2020, or you may owe a penalty.
account (ESA) by April 30, 2020. Form 5498-ESA reports
You must keep track of your Coverdell ESA basis
contributions and rollover contributions made for you for
(contributions and distributions).
2019. For more information about Coverdell ESAs, see
Pub. 970.
Box 2. Shows any rollover (including a direct rollover and
contribution of a military death gratuity) you made in 2019.
Beneficiary’s taxpayer identification number (TIN). For
Generally, any amount rolled over from one Coverdell ESA
your protection, this form may show only the last four digits
to another Coverdell ESA for the benefit of the named
of your TIN (social security number (SSN), individual
beneficiary or a member of the beneficiary’s family who is
taxpayer identification number (ITIN), adoption taxpayer
under age 30 (except for a beneficiary with special needs)
identification number (ATIN), or employer identification
is not taxable.
number (EIN)). However, the issuer has reported your
complete TIN to the IRS.
Future developments. For the latest information about
developments related to Form 5498-ESA and its
Account number. May show an account or other unique
instructions, such as legislation enacted after they were
number the trustee/issuer assigned to distinguish your
published, go to www.irs.gov/Form5498ESA.
account.
Box 1. Shows Coverdell ESA contributions made in 2019
and through April 15, 2020, for 2019 on your behalf. Do not
deduct these amounts on your income tax return.
VOID
CORRECTED
TRUSTEE’S or ISSUER’S name, street address, city or town, state or
1 Coverdell ESA contributions
OMB No. 1545-1815
province, country, and ZIP or foreign postal code
Coverdell ESA
2019
$
Contribution
2 Rollover contributions
Information
5498-ESA
$
Form
Copy C
TRUSTEE’S/ISSUER’S TIN
BENEFICIARY’S TIN
For Trustee
BENEFICIARY’S name
For Privacy Act
and Paperwork
Reduction Act
Street address (including apt. no.)
Notice, see the
2019 General
City or town, state or province, country, and ZIP or foreign postal code
Instructions for
Certain
Information
Account number (see instructions)
Returns.
5498-ESA
Form
www.irs.gov/Form5498ESA
Department of the Treasury - Internal Revenue Service
Instructions for Trustee or Issuer
File Copy A of this form with the IRS by June 1, 2020.
To complete Form 5498-ESA, use:
To file electronically, you must have software that
• The 2019 General Instructions for Certain Information
generates a file according to the specifications in Pub.
Returns, and
1220.
• The 2019 Instructions for Form 5498-ESA.
Need help? If you have questions about reporting on
To get or to order these instructions, go to
Form 5498-ESA, call the information reporting customer
www.irs.gov/Form5498ESA.
service site toll free at 866-455-7438 or 304-263-8700
(not toll free). Persons with a hearing or speech
Due dates. Furnish Copy B of this form to the
disability with access to TTY/TDD equipment can call
beneficiary (participant) by April 30, 2020.
304-579-4827 (not toll free).

Download IRS Form 5498-ESA 2019 Coverdell Esa Contribution Information

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IRS Form 5498-ESA Instructions

Coverdell ESA trustees or issuers must file Copy A of 5498-ESA tax form with the IRS by June 1, 2020 filing for 2019. They are also required to furnish Copy B of 5498-ESA Form to the beneficiary (participant) by April 30, 2020. Copy C of this form is to be kept in the trustee or issuer's records.

If the due date falls on a weekend or legal holiday, you may file the form on the next business day. You can request a 30-day extension of time to file by completing Form 8809 by the due date of the returns. The penalty if you fail to meet the 5498-ESA deadline is $50 per return with no maximum, except if the failure is due to a reasonable cause.

If you are filing Copies A on paper, you must send them accompanied by Form 1096, Annual Summary and Transmittal of U.S. Information Returns. These forms have been converted to online fillable PDF. The IRS accepts black-and-white Copies A of Form 5498-ESA.

If you must file 250 or more information returns, you are required to file them electronically. For this purpose, you can use the Filing Information Returns Electronically System (FIRE System).

IRS 5498-ESA Related Forms

IRS Form 5498-ESA is part of a series of forms, which includes three other related forms, briefly described below:

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