Form 5498

Form 5498 reports gross contributions to your IRAs, including rollover and conversion contributions, as well as regular contributions to traditional and Roth IRAs. It also reports the fair market value of your IRA account and if the account may be required to take a required minimum distribution during the coming year. If no contributions were made to your traditional or Roth IRA, Simplified Employee Pension (SEP), Salary Reduction SEP (SARSEP) or SIMPLE IRA plans, you will not receive Form 5498 in May. Your annual statement will be the only record you receive of your account's fair market value as of the end of the year.

Contribution limits for IRAs
The annual contribution limit for both traditional and Roth IRAs is the smaller of the applicable amount listed in the table below or your taxable compensation for the year. See IRS Pub. 590-A for more details.

  Hover over the letters to get more information on each field.

Name and Address.

Participant's Identification Number
Usually your Social Security Number (SSN) or Employer Identification Number (EIN).

Trustee's or Issuer's Name
Trustee's or Issuer's Federal ID Number
Fund & Account Number/Plan ID

1. IRA Contributions Shows traditional IRA contributions for 2018 made in 2018 and through April 15, 2019.

2. Rollover Contributions Shows the deposit of amounts previously distributed from an IRA that are invested in your Invesco IRA within 60 days; any rollover, including a direct rollover, into your Invesco traditional or Roth IRA; and direct rollovers (conversions) from a qualified plan, 403(b) or 457 plan into your Roth IRA.

3. Roth Conversion Amount The amount converted from a traditional, SEP or SIMPLE IRA to a Roth IRA.

4. Recharacterized Contributions

5. Fair Market Value as of 12/31/2018 Determined by multiplying the number of shares in your account by the net asset value on Dec. 31, 2018.

7. Plan Type The type of retirement plan you have.

8. SEP Contributions SEP contributions deposited from Jan. 1, 2018, to Dec. 31, 2018, on your behalf.

9. SIMPLE Contributions SIMPLE IRA contributions deposited from Jan. 1, 2018, to Dec. 31, 2018, on your behalf.

10. Roth IRA Contributions Regular contributions deposited to a Roth IRA between Jan. 1, 2018, and April 15, 2019, for 2018. Do not deduct Roth contributions on your income tax return.

11. If checked, required minimum distribution (RMD) for 2019 If this box is checked, you must take an RMD for 2019 based on the regulatory requirements governing RMDs in effect at the time this document was produced.

13a. Postponed Contributions Shows the amount of a late rollover contribution made in 2018 and certified by the participant, or a postponed contribution made in 2018 for a prior year.

13c. Code For a participant who has used the self-certification procedure for a late rollover contribution, shows the code SC.

Your Questions Answered

A direct transfer of assets is a non-reportable event. However, if you completed a rollover, that transaction would be reported on your Form 5498.

The April 15 deadline for traditional and Roth IRA contributions for 2018 is regulated by the IRS and designed to give investors additional time for making contributions. A contribution will be accepted through April 15, provided it is postmarked on or before that date and clearly marked as a 2018 IRA contribution.

Note: For information regarding an extension of the deadline due to presidential proclaimed disasters and military service, visit the IRS website at irs.gov.

Form 5498 reports the value of your account as of Dec. 31, 2018. If you make further contributions to your retirement account between Jan. 1, 2019, and April 15, 2019, those contributions will be reflected on your Form 5498, but will not be included in the calculation of the fair market value.

The IRS instructs Invesco to report contributions for SEP and SIMPLE IRAs on a calendar year basis.

For traditional and Roth IRAs, any distribution is reported on Form 1099-R, and any contribution is reported on Form 5498. Therefore, if during 2018 you converted a traditional IRA into a Roth IRA, the distribution from your traditional IRA will be reported on Form 1099-R, and the contribution to the Roth IRA will be reported on Form 5498. If you had a recharacterization (moving assets from a Roth IRA back into a traditional IRA), you will receive a Form 1099-R showing the distribution from the Roth IRA and Form 5498 reporting the recharacterization contribution into the traditional IRA. The withdrawals from and the contributions to the different types of accounts will be reported in different boxes on the forms.

This amount represents an indirect rollover contribution deposited after the allowable 60-day period by using the IRS approved self-certification method. You will also notice the code of SC appearing in box 13c identifying the type of Postponed Contribution.