What is tax form 5498 and when is it mailed?
Form 5498 informs you and the IRS of the fair market value and any contributions to your IRA annuity contract during the tax year. If no contributions were made during the tax year, the annual statement you receive in January of the following year is considered a substitute form 5498, and no form will be sent. All form 5498s with contributions will be mailed by May 31 after the tax year because contributions to IRAs can be made up to the tax return filing due date of April 15. You may obtain a copy of your annual statement or form 5498 by becoming a registered member of WSLife.com and accessing your annual statement from the Annual Statements page of My Accounts or your form 5498 from the Tax Statements page of My Accounts.
