What to Do If You Did Not Receive a 1098-SA for Your HSA?

Many individuals who have a Health Savings Account (HSA) may wonder what to do if they did not receive a 1098-SA form. The 1098-SA form is provided by HSA administrators to report contributions, distributions, and other relevant information for tax purposes. If you did not receive a 1098-SA, do not worry, as there are steps you can take to ensure compliance and proper reporting.

Here are some actions you can take if you did not get a 1098-SA:

• Contact Your HSA Administrator: Reach out to your HSA provider to inquire about the status of your 1098-SA form. They may have it available online or can provide it to you upon request.
• Review Your Account Statements: Check your HSA account statements for the year to gather information on contributions, distributions, and any other relevant transactions.
• Consult with a Tax Professional: If you are unsure how to report HSA activity on your taxes without the 1098-SA form, it is advisable to seek guidance from a tax professional.
• File Your Taxes: Even if you did not receive a 1098-SA, you are still responsible for accurately reporting your HSA activity on your tax return. Be sure to include all relevant information to avoid any penalties or IRS inquiries.

While receiving a 1098-SA form simplifies the tax reporting process for HSAs, not receiving one does not absolve you of your reporting obligations. Stay proactive and ensure you accurately report your HSA activity to remain compliant with IRS regulations.

Many people with a Health Savings Account (HSA) have questions about why they might not receive a 1098-SA form. This form is crucial as it reports contributions and distributions for tax purposes. If you find yourself in this situation, don't panic—there are clear steps to follow.

1. Contact Your HSA Administrator: Getting in touch with your HSA provider is the best first step. They may have the 1098-SA available online, or they can send it directly to you upon request.

2. Review Your Account Statements: Take a close look at your HSA account statements from the previous year. These documents can provide essential information regarding your contributions and distributions.

3. Consult with a Tax Professional: When in doubt about how to report HSA transactions without a 1098-SA form, seeking advice from a tax professional can be very beneficial.

4. File Your Taxes: Remember, even if the 1098-SA form does not arrive, you are still responsible for reporting your HSA activities accurately on your tax return!