Sarah Borders, CEBS December 7, 2022 3 min read

IRS Issues 2023 HSA Reporting Forms and Instructions

The IRS has released Form 5498-SA for the 2023 tax year (due in 2024) along with corresponding instructions, which are combined with the instructions for Form 1099-SA. Form 5498-SA is used by trustees and custodians to report contributions to HSAs, Archer MSAs, and Medicare Advantage MSAs. Form 1099-SA is used to report distributions from these same accounts. Form 1099-SA is a “continuous use” form, which means that it is not revised annually but will only be updated as necessary. There is no significant change to the 2023 Form 5498-SA and instructions, but the instructions have updated filing and delivery deadlines.

Typically, HSA account holders report their own contributions and distributions on Form 8889, but HSA trustees and custodians should be issuing these forms to HSA holders for tax preparation purposes.


Sarah Borders, CEBS

Principal, Benefits Compliance Solutions. Sarah has spent the last 15 years in the employee benefits industry, has numerous designations and serves on NAHU’s Employer Working Group Subcommittee and is an active board member of Austin AHU. She recently stepped down as Vice President of Benefits Compliance at one of the nation's largest brokerage firms to start her own compliance consulting practice. Her designations include an active license with the Texas Department of Insurance, CEBS (Certified Employee Benefits Specialist), Certified Health Care Reform Professional, HIPAA certification and Health Care Service Associate. She holds an MBA from Texas A&M Corpus Christi and a BA from University of Incarnate Word. Her consulting firm, Benefits Compliance Solutions, partners with employers to identify unknown risks and avoid hundreds of thousands of dollars in fines and lawsuits from failure to comply with their healthplan obligations.