5498 Deadline
Does the extension of the tax filing deadline automatically delay the required delivery date of 5498s? I work within a financial institution that produces 5498s and I cannot find definitive guidance to support this opinion for ESAs, IRAs and HSAs. Logically, I agree a 90 day extension makes sense, but I need help finding verified proof.
Permalink Submitted by William Tuttle on Wed, 2020-04-08 13:46
IRS Notice 2020-18, specifically states that it does not postpone the deadline for the filing of any federal information return. Form 5498 is an information return. Custodians should still assume the June 1 filing deadline still applies unless there is additional IRS clarification/guidance.