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What do I need to do for my IRA contributions (Form 5498) when filing my taxes?

For any IRA accounts with contributions (deposits), you will receive a Form 5498 in late May. We will post this form under the "Documents" link at the top of your dashboard. 

Form 5498 is for informational purposes only. You are not required to file it with your tax return.

This form is not posted until May because you can contribute to an IRA for the previous year through mid-April. This means you will have finished your taxes before you receive this form. If you need to know how much you contributed to any IRA you can login to your account, click your IRA to get to the single account dashboard and you'll see your yearly contribution information listed below your account graph.

 

Note for Indirect or 60-day Rollovers

If you complete a 60-day rollover into Wealthfront, you'll receive a Form 5498 in May that reflects the deposit into your Wealthfront IRA. As noted above, the Form 5498 is not required for tax filing purposes. If you recently completed a 60-day rollover into Wealthfront and are looking for some sort of documentation that indicates the rollover in the meantime, please use your monthly statement on your "Documents" page that shows the rollover that was completed into Wealthfront.

 

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Wealthfront prepared this article for informational purposes and not as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information.

Wealthfront and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisor. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.