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When are 1099-sa sent Form: What You Should Know

HealthEquity sends the 1099-SA in the mail, postmarked no later than January 31. You can also view your tax documents online. I Don't Know the Name of the HSA or Archer MSA Include information about HSA and Archer MSA distributions in the “Other Information” section. This can be found under “Other Information” in the “General Overview of Your 1099-MISC.” What Is Exempt Employees? — Exempt Employees: Employee not required to pay income tax on earnings from specified retirement and/or annuity plans as described in Internal Revenue Code section 401(k). These plans include an HSA and an Archer MSA, but not a SIMPLE IRA. Exclusions and Exemptions for Employers — For more information please see the IRS.gov Exempt Employment Exemptions and Exemptions for Employers FAQs — Employee excluded from gross income for purposes of reporting net profit. The definition of “gross income” is different for employees and nonemployees. For more information please see the IRS.gov Exempt Employment Exemptions and Exemptions for Employers FAQs Does the Employee Have to Report? — The term “eligible employee” does not include self-employed individuals, such as self-employed individuals, an employer-sponsored plan, or any individual covered by the Federal Employees Health Benefits Program. Does a Retirement Plan Have to Include HSA Contributions? — An HSA must be set up and funded for at least six months before the beginning of a retirement or profit-sharing plan year, and at least six months before the first month of income taxes due. Is a Qualifying HSA Contribution Required? — Yes. A qualifying contribution is an amount equal to either 6 percent of your net earnings or 6 percent of the amount you contribute to a self-insured medical savings account plan or a SIMPLE IRA, up to 3,450 annually for 2017, or 1,450 for 2024 (both annual limits). This contribution may be made in addition to the self-insured medical savings plan or SIMPLE IRA contribution. Where Do I Check to Know Which Exempt Employer is Required to Make a Qualifying Contribution? — See the IRS.

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