When will I receive a copy of Form 5498?

A copy of Form 5498 will be mailed to you by May 31st of the relevant year. 

The IRS requires all IRA custodians to file form 5498 annually to report the fair market value (FMV) of the asset(s) held in your IRA based on the client-reported last-known-value.

Form 5498 indicates any rollovers, contributions, conversions and recharacterizations received in your IRA during the prior tax year.

Further, this form indicates whether the accountholder is required to take a Required Minimum Distribution (RMD).

The IRS does not require you to send a copy of Form 5498 with your tax return. The form is for your records only. Form 5498 is electronically reported to the IRS in June of the relevant year.