HSA Accountholders Should Have Received Form 1099-SA by January 31, 2018

February 14, 2018

Banks are required to report information about Health Savings Account (HSA) distributions on IRS Form 1099-SA. Banks must file this form with the IRS and provide a copy to HSA participants by January 31, 2018. Chard Snyder HSA Advantage account holders will need to login to their HSA Advantage account through the Chard Snyder consumer portal to obtain their 1099-SA. Non-Chard Snyder HSA holders will need to contact their financial institution if they have not received their 1099-SA. 

This form is for informational purposes only. It shows distributions made for the year 2017, including mistaken distributions. If the accountholder has any mistaken distributions, they may repay the mistaken distribution back to the HSA by April 15, 2018 to avoid including the amount in their gross income and paying any excess taxes. HSA accountholders should contact their HSA bank and tax advisor for assistance.

Learn more: https://www.irs.gov/instructions/i1099sa

Sample Document (Form 1099-SA): https://www.irs.gov/pub/irs-pdf/f1099sa.pdf