Benefits of Filing Form 1099-SA with TaxBandits

Internal Audit Check

Internal Audit Check

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TIN Matching

TaxBandits helps reduce the chance of TIN errors by validating your employee's TIN against the SSA database.

Deliver Recipient Copies

Deliver Recipient Copies

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What Information is Required to File Form 1099-SA?

TaxBandits for Every Business IRS Form 1099-SA
  • 1. The Recipient’s Name, Address, and TIN.
  • 2. The payer’s Name, Address, and TIN.
  • 3. The type of account (HSA, Archer MSA, MA MSA)
  • 4. The gross distribution from the account.
  • 5. Earnings and Fair market Value (FMV) of the account.

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How to E-file Form 1099-SA Online for 2022 with TaxBandits?

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Enter Form 1099-SA Information
Transmit it to the IRS
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Recipient Copy (Online/Postal)
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Frequently Asked Questions on Form 1099-SA

What is the IRS 1099-SA Tax Form?

A 1099-SA is an IRS tax form used to report distributions from a health savings account (HSA), an Archer medical savings account (Archer MSA), or a Medicare Advantage medical savings account (MA MSA). In addition to filing this form with the IRS, the trustee of the account must provide a copy for the account holder. If the account holder has more than one type of these plans, a separate Form 1099-SA must be completed for each account.


Who is required to file File Form 1099-SA?

Any business entity that is the trustee or issuer of health savings accounts (HSA), Archer medical savings accounts (Archer MSA), and Medicare Advantage medical savings accounts (MA MSA) must file the Form 1099-SA with the IRS to report any distributions from the account that took place during the tax year. The trustee must also distribute copies of the Form 1099-SA to the account holders.


When is the deadline to file Form 1099-SA?

The deadline to file a paper copy of Form 1099-SA with the IRS is February 28th, and the deadline to file electronically is March 31st. Recipient copies of Form 1099-SA should be distributed by January 31st.

It is also important to note that any business entity filing more than 250 forms is required to file electronically.


What are the penalties for not filing Form 1099-SA?

IRS penalties vary and will depend on how late you file or if you fail to file at all. According to the IRS instructions for certain information returns, businesses can be fined anywhere from $50-$290 per information return. Therefore, it is very important to file on the correct deadline and file any corrections as needed.


How do I get my 1099-SA Tax Form?

If you are a recipient of a Form 1099-SA, you should contact the issuer of your account if you don’t receive your form. Account holders need the distribution information from this form to complete their own personal income tax return.

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