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Form 5498 question for the TTB crowd

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    #1

    Form 5498 question for the TTB crowd

    Never mind.
    Last edited by FEDUKE404; 08-23-2020, 12:25 PM.
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    #2
    Form 5498 is "IRA Contribution Information", so only IRAs. I don't believe there is any equivalent form for 401(k) plans. I have a solo 401(k) for many years and do not recall ever seeing a Form 5498, and I think I would have if it existed.
    "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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      #3
      Originally posted by FEDUKE404
      So, it raises the question about how the IRS does get any information related to "necessary" RMDs from a 401k account or similar? ? ?FE
      It doesn't seem like they do. Even with IRAs, if the IRS has the ability to track down RMDs, why do so many people manage to conveniently "forget" their RMDs, and end up not paying any penalty for doing so?

      "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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