Taking notes on 2022 calendar
ComplianceTax & AccountingJanuary 28, 2022

IRAs, HSAs, and CESAs: 2022 Deadlines

Custodians and trustees of Individual Retirement Accounts (IRAs), Health Savings Accounts (HSAs), and Coverdell Education Savings Accounts (CESAs), are subject to multiple deadlines throughout the year. In addition to deadlines by which reports must be sent to the Internal Revenue Service (IRS) there are deadlines by which reports, or in some cases statements or notifications, must be sent to account owners and/or beneficiaries.

There are also deadlines for account owners and beneficiaries to complete certain transactions, such as taking required minimum distributions, recharacterizing contributions, and correcting excess contributions. Additionally, employers that sponsor Savings Incentive Match Plans for Employees of Small Employers (SIMPLEs) are subject to a couple of deadlines.

The following chart includes 2022 deadlines applicable to the previously mentioned tax-advantaged accounts.

1Health Savings Account (HSA) FMV statements are optional.
2Optional for responsible individual
3Not required if there were no regular contributions for 2021, or rollover or transfer contributions during the year.
4Optional for responsible individual
5Not required for IRA owner if there were no regular contributions for 2021, or rollover, recharacterization, or conversion contributions during the year, and the FMV statement indicates which information is provided to the IRS. Not required for the beneficiary of a deceased IRA owner if the FMV statement indicates which information is provided to the IRS.
6Not required if there were no regular contributions for 2021, or rollover or transfer contributions during the year.
7Not required for HSA owner if there were no regular contributions for 2021, or rollover contributions during the year, and the FMV statement indicates which information is provided to the IRS.

Mike Schiller
Manager, Specialized Consulting, Tax Advantaged Accounts
With more than 24 years of experience, Mike has worked closely with hundreds of financial organizations to help them create, implement, and maintain their tax-advantaged accounts program.
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