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Annual Tax Information


Forms Needed for the 2015 Tax Season

HSA contribution and distribution totals are available on:

 

Filing Your Taxes with the IRS

 

From Your Employer

  • Form W-2

 

What Is on the HSA-Related Forms

"My HSA Snapshot" on our website

Once you have logged on to our website, you will find your Health Savings Account (HSA) contribution and distribution totals on your HSA Snapshot page under “My Accounts.”

Your “Current Year” totals are for 2016. They include HSA contributions and distributions made this calendar year for 2016. They do not include contributions made from January 1 through April 18, 2016 that were designated for 2015.

Your “Prior Year” totals are for 2015. They include HSA contributions and distributions made from January 1 through December 31, 2015 for 2015, as well as contributions made from January 1 through April 18, 2016 that were designated for 2015. They do not include contributions made from January 1 through April 15, 2015 that were designated for 2014.

The information provided on your HSA Snapshot is solely for your information and convenience; it is in addition to IRS Forms 1099-SA and 5498-SA, which we will mail to you.


Our Automated Telephone System

To use our automated telephone system for details about your HSA contributions and distributions, please call Customer Care and follow the prompts to identify yourself and retrieve your account information.

The automated telephone system will provide you with your HSA contribution and distribution totals for 2015 and 2016 (to date).


IRS Form 1099-SA

IRS Form 1099-SA provides the total amount distributed from your HSA in 2015.

This form will be mailed to you by January 31, 2016 and reported to the IRS by February 28, 2016.

You may receive more than one Form 1099-SA – one for each type of distribution you had in the tax year. The six types of distributions are: normal distributions, excess contributions, disability, death distribution (two categories) and prohibited transaction.

Do not attach Form 1099-SA to your income tax return. Instead, keep it for your records.

Click here to view a sample Form 1099-SA with explanatory notes.


IRS Form 5498-SA

IRS Form 5498-SA provides the total amount of contributions credited to your HSA for 2015. Rollover amounts and year-end fair market values also are reported on this form.

This form will be mailed to you after April 18, 2016 to allow you time to apply additional contributions to your HSA for 2015. It will be mailed by May 31, 2016, and a copy will be sent to the IRS on your behalf.

Do not attach Form 5498-SA to your income tax return. Instead, keep it for your records.

Click here to view a sample Form 5498-SA with explanatory notes.


IRS Form 8889

IRS Form 8889 is available for download at www.irs.gov. You must file this form along with your Form 1040 or 1040NR. Use this form to (1) report HSA contributions, including those made on your behalf through employer contributions; (2) calculate your HSA deduction; (3) report HSA distributions; and (4) if you fail to be an eligible individual, determine amounts you must include as income and additional tax you may owe.

You must file Form 8889 if (1) you or someone on your behalf, including your employer, made contributions to your HSA for 2015; (2) you made or received HSA distributions in 2015; (3) you are required to report amounts as income because you failed to be an eligible individual during the HSA testing period; and/or (4) you acquired an interest in an HSA because of the death of the account beneficiary.


Tips and Important Tax Information


Contributions

HSA Contributions for 2015 During 2016 Tax Year

You may continue making HSA contributions for 2015 through April 18, 2016, provided you have not met or exceeded your annual contribution limit for 2015 (including catch-up contributions, if applicable).

If you make a contribution between January 1 and April 18, 2016 that you want applied to your HSA for 2015, please write “2015 Contribution” in the memo section of your check. Please include a deposit slip when you mail us your check, and indicate for which year you would like the HSA contribution applied. You may download deposit slips at “Managing Your HSA > Forms > Health Savings Account Contribution/Refund Deposit Slip.”

Deposits by check must be postmarked no later than April 18, 2016 to be eligible as 2015 contributions.

You may also contribute to your HSA electronically by making deposits by wire or Automated Clearing House (ACH) transfer, or by using our Funds Transfer service. If you make an electronic deposit to your HSA for 2015 between January 1 and April 18, 2016, you must contact the bank after the funds have been credited to your account so that they may be recoded as a 2015 contribution (otherwise, they will be coded as a 2016 contribution).

Electronic deposits must be submitted no later than April 18, 2016 to be eligible as 2015 contributions.


Catch-Up Contributions

If you are age 55 or older and have not yet enrolled in Medicare, you may make an additional $1,000 catch-up contribution to your HSA for 2015. Please note that only one catch-up contribution is permitted per account per year. You may check your 2015 contribution totals on your HSA Snapshot page at any time.


Excess Contributions

If you made a contribution in 2015 that exceeded the maximum annual contribution allowed by the IRS, but a correction was made and the money was withdrawn from your HSA by December 31, 2015, the amount will not be reported on either your 2015 Form 1099-SA (funds distributed) or your 2015 Form 5498-SA (funds contributed). There will be no tax penalty.

If an excess contribution for 2015 is reported and corrected between January 1 and April 18, 2016, the amount will be reported as a distribution of “Excess contribution” on your 2016 Form 1099-SA (funds distributed) that you will receive in January 2017, but it will still be reported on your 2015 Form 5498-SA (funds contributed). There will be no tax penalty.

For other situations, please consult your tax advisor or the IRS for information about potential tax implications.

Excess contributions may be corrected in one of two ways. Either way requires the account holder to send us a signed request. You may:

  • Request a refund by Treasurer’s Check for the amount in excess, if there is enough money in your HSA to cover the amount.
  • Request that the excess funds be reallocated from 2015 to 2016. This will decrease the amount of new funds that may be contributed to your HSA for 2016 before you reach the maximum annual contribution limit.


FSA/HRA to HSA Rollovers

Effective January 1, 2012, the IRS no longer allows rollovers from a Flexible Spending Account (FSA) and/or Health Reimbursement Account (HRA) to an HSA.


Distributions

To make sure your HSA distributions meet IRS guidelines and are considered eligible expenses, please refer to IRS Publication 502 - Qualified Medical Expenses at www.irs.gov/pub/irs-pdf/p502.pdf. Be sure to keep copies of your receipts.


Reimbursements

Remember that you may reimburse yourself for out-of-pocket payments made to healthcare providers for eligible expenses by withdrawing funds from your HSA. Be sure to keep receipts of those out-of-pocket payments as the IRS may ask to see them if you are audited.