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5498/FMV Statement - Overview
File Form 5498 for each person for whom you maintained any individual retirement arrangement (IRA), including a deemed IRA under section 408(q). In addition to the 5498, a Fair Market Value Statement is required to be issued to the recipient of each retirement account.
Please note: A Form 5498 is generally issued to all active accounts, regardless of any activity during the specific reporting period.
Deadlines
See below for the deadlines relevant to the Form 5498/FMV Statement:
- January 31st is the last day to deliver FMV Statements to recipients
- May 31st is the last day to deliver Forms 5498 to recipients
- May 31st is the last day to submit Form 5498 filings
If a deadline falls on a weekend or holiday, it will be extended to the next business day. A 30-day extension is generally available for both of the deadlines above.
Resources
Please see the Form 5498 – IRS Form & Instructions for official IRS information.
Please refer to the 5498 - Data Requirements guide for detailed data requirements.
Below are the applicable CSV Ingestion Templates:
- IRA Account Owner/Account CSV Template
- Transactions CSV Template
- 5498 Form Data CSV Template – Only required if not sending transactions
A sample form is also attached to the bottom of this article for your reference.