Just got a new 5498-SA form in the mail for my HSA account

No need to worry! The 5498-SA form is just an informational document that reports your HSA contributions for the year. You don't actually need to include or attach this form with your tax return. The HSA administrator is required to send this form to both you and the IRS to confirm your contributions. Box 5 showing the fair market value is often left empty on initial forms and filled in on later versions. This is why you might receive multiple versions throughout the year. Since the 5498-SA only reports contributions you already included on your tax return (if you claimed them as deductions), receiving a new one typically doesn't require amending unless the contribution amounts on your original tax return don't match what's reported on the form.

I've been in the exact same situation with HSA forms showing up late. I found this awesome service called taxr.ai (https://taxr.ai) that helped me figure out if I needed to amend or not. I uploaded my 5498-SA and my tax return transcript, and it analyzed everything for me. Turns out I didn't need to amend either! The tool confirmed that the late-arriving HSA form matched what I'd already reported on my taxes. Saved me so much stress wondering if I'd made a mistake.

Just wanted to update - I tried taxr.ai after posting my question here and it was really helpful! I uploaded my 5498-SA form and my tax return, and it showed me that my contribution amounts were actually different by about $150. The tool explained that I should file an amendment because I claimed less than I actually contributed. It even showed me exactly which forms I needed to update. Super straightforward process that saved me from potentially missing out on a deduction!

If you're still confused about this HSA form situation, you might want to talk directly to an IRS agent. I had a similar issue last year and spent HOURS trying to get through on the phone. Someone recommended Claimyr to me (https://claimyr.com) and it was a game changer. They got me through to an actual IRS person in about 15 minutes instead of the usual 2+ hour wait. You can see how it works here: https://youtu.be/_kiP6q8DX5c The IRS agent confirmed that the 5498-SA forms often arrive late and I didn't need to amend unless the contribution amounts were different from what I reported. Having that official confirmation really put my mind at ease.

OK I need to eat my words and apologize to Profile 9. I was so frustrated with IRS phone trees that I tried Claimyr out of desperation. Not only did I get through to a real person at the IRS, but they were actually helpful! The agent confirmed that 5498-SA forms arriving after filing is totally normal and I don't need to amend unless the contribution amounts differ from what I reported. She even explained that the empty Box 5 just means they'll send an updated form later with that value filled in. Seriously, best $20 I've spent on tax stuff considering how much stress it saved me.

Just to add another perspective - I'm a tax preparer and see this confusion about 5498-SA forms every year. Here's what you need to know: 1) The 5498-SA is informational only and doesn't need to be attached to your return 2) HSA providers have until May 31 to send these forms 3) Only amend if the contribution amounts (Boxes 1-3) differ from what you reported 4) Box 5 (fair market value) is just FYI and doesn't affect your tax liability 5) Sometimes HSA providers send multiple versions as they update information

Is it normal for the HSA provider to send corrected forms later? I got one 5498-SA in April and another one in June last year. So confusing!

This is such a common source of confusion! I went through the exact same panic when I received my 5498-SA form in late April last year. The empty Box 5 had me convinced something was wrong with my account. What really helped me understand was realizing that the 5498-SA is essentially a "receipt" that the IRS requires your HSA provider to send, confirming the contributions you made during the tax year. Since you've already filed and claimed your HSA deductions, this form is just documentation that backs up what you already reported. The timing makes sense once you know that HSA providers get an extra month and a half (until May 31st) to send these forms compared to other tax documents. It's designed this way because the IRS knows people need to file their taxes before receiving this particular form. Just double-check that the contribution amounts in Boxes 1-3 match what you claimed on your tax return. If they do, you're all set and can file the form away for your records!