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Why did I receive a Form 5498-ESA for the transfer of assets into my Principal Trust Company Coverdell ESA?

April 26, 2017assets COMPANY Coverdell ESA form Principal transfer Trust

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Why did I receive a Form 5498-ESA for the transfer of assets into my Principal Trust Company Coverdell ESA?

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If assets transfer from one Coverdell ESA to another, the IRS requires us to include the amount of the transfer in the rollover box. This lets the IRS know that you deposited the money into another Coverdell ESA.