IRS Form 5498 Filing Deadline For 2025 Missing Deadlines Can Cost You—Don’t Risk It! Charles Hardy | Last Updated: May 26, 2025 Explore More Home Form 5498 ESA IRS Form 5498 ESA Deadline Form 5498 Deadline for the 2024 Tax Year The deadline for filing Form 5498 is crucial for ensuring accurate IRA reporting. This form is necessary for the Internal Revenue Service (IRS) to receive information about contributions made to IRAs, including traditional, Roth, and SEP IRAs. Timely filing of this form not only helps to maintain compliance with IRS regulations but also assists in the accurate assessment of tax implications for account holders. Table of Contents: When is the deadline to file Form 5498? What are the 5498 late filing penalties? How to file Form 5498 with TaxBandits? When is the deadline to file Form 5498? The IRS requires that Form 5498 be filed electronically by June 2, 2025, for the 2024 tax year. In addition, participant copy detailing the FMV (Fair Market Value) of the account and RMDs must be distributed to participants by January 31, 2025. For other IRA details, including contributions and rollovers, the deadline for distributing the participant copy is June 2, 2025. What are the 5498 late filing penalties? The penalty for failing to file Form 5498 on time is $50 per return, with no maximum limit. However, if the failure is due to reasonable cause, penalties may be waived as stated in section 6693. Section 6693- Failure to Provide Reports on Certain Tax-Favored Accounts or Annuities; Penalties Relating to Designated Nondeductible Contributions Section 6693 of the Internal Revenue Code (IRC) addresses penalties related to the failure to provide reports on certain tax-favored accounts or annuities, including Individual Retirement Accounts (IRAs), Simplified Employee Pension (SEP) plans, and SIMPLE IRAs. It also covers penalties for overstatements of designated nondeductible contributions and failing to file required forms related to these accounts. Meet your 5498 filing deadline with TaxBandits! Ensure you meet your Form 5498 filing deadline effortlessly with TaxBandits—an IRS authorized e-file service provider! Our software streamlines the reporting process, allowing you to file Form 5498 with the IRS easily. Don’t let the deadline sneak up on you—take advantage of our timely reminders and comprehensive support to ensure compliance. By following these simple steps, you can easily file Form 5498 in a few minutes: Step 1: Create your free TaxBandits account and select Form 5498. Step 2: Enter Form 5498 information. Step 3: Review Form 5498 information. Step 4: After review, transmit the form to the IRS. TaxBandits will distribute participant copies of Form 5498 through postal mailing, an online access portal, and advanced distribution (which supports both options). Browse by Topics Form 5498 instructions Form 5498 Deadline Form 5498 Resources FAQs Blog Help Videos