5498 2023

IRS Release Status: FINAL

Sample Excel Import File: 5498 2023.xlsx

What's New for 2023

In addition to tax year updates throughout the form and instructions, the threshold for the amount in Box 1 to report IRA contributions other than amounts reported in specified boxes, increased from amounts exceeding $6,000 for individuals under 50 and $7,000 for participants 50 or older - to - $6,500 for individuals under 50 and $7,500 for participants 50 or older. To view the 2023 Instructions, click here.

Import Form Fields:

Field Name	Size	Type	Description	Notes
See Form Filer Common Fields			Filer fields common to all form types.
See Recipient Common Fields			Recipient fields common to all form types.
Box 1 Amount	12	Amount	Box 1: IRA contributions (other than amounts in...)
Box 2 Amount	12	Amount	Box 2: Rollover contributions
Box 3 Amount	12	Amount	Box 3: Roth IRA conversion amount
Box 4 Amount	12	Amount	Box 4: Recharacterized contributions
Box 5 Amount	12	Amount	Box 5: Fair market value of account
Box 6 Amount	12	Amount	Box 6: Life insurance cost included in box 1
Box 7 Checkbox 1	1	Checkbox	Box 7: IRA	X / Y / T / 1 = Checked
Box 7 Checkbox 2	1	Checkbox	Box 7: SEP	X / Y / T / 1 = Checked
Box 7 Checkbox 3	1	Checkbox	Box 7: SIMPLE	X / Y / T / 1 = Checked
Box 7 Checkbox 4	1	Checkbox	Box 7: Roth IRA	X / Y / T / 1 = Checked
Box 8 Amount	12	Amount	Box 8: SEP contributions
Box 9 Amount	12	Amount	Box 9: SIMPLE contributions
Box 10 Amount	12	Amount	Box 10: Roth IRA contributions
Box 11 Checkbox	1	Checkbox	Box 11: Check if RMD for 2021	X / Y / T / 1 = Checked
Box 12a Date	10	Date	Box 12a: RMD date	MM/DD/YYYY or M/D/YYYY
Box 12b Amount	12	Amount	Box 12b: RMD amount
Box 13a Amount	12	Amount	Box 13a: Postponed/late contributions
Box 13b Year	4	Numeric	Box 13b: Year	YYYY
Box 13c Code	8	Text	Box 13c: Code	FD / PO / SC / E012744 / E013239 / E013119 / PL106-21 / PL115-97
Box 14a Amount	12	Amount	Box 14a: Repayments
Box 14b Code	2	Text	Box 14b: Code	DD / QR / BA
Box 15a Amount	12	Amount	Box 15a: FMV of certain specified assets
Box 15b Code	2	Text	Box 15b: Code(s)	See IRS Instructions
See Form Common Fields			Form fields common to all form types.

IRS Release Status: FINAL

Sample Excel Import File: 5498 2023.xlsx

Import Form Fields:

5498 Form:

IRS 5498 Form: https://www.irs.gov/pub/irs-pdf/f5498.pdf

IRS 5498 Instructions: https://www.irs.gov/pub/irs-pdf/i1099r.pdf