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Caution: DRAFT—NOT FOR FILING
This is an early release draft of an IRS tax form, instructions, or publication,
which the IRS is providing for your information as a courtesy. Do not file
draft forms. Also, do not rely on draft instructions and publications for
filing. We generally do not release drafts of forms until we believe we have
incorporated all changes. However, unexpected issues sometimes arise, or
legislation is passed, necessitating a change to a draft form. In addition,
forms generally are subject to OMB approval before they can be officially
released. Drafts of instructions and publications usually have at least some
changes before being officially released.
Early releases of draft forms and instructions are at IRS.gov/draftforms.
Please note that drafts may remain on IRS.gov even after the final release is
posted at IRS.gov/downloadforms, and thus may not be removed until there
is a new draft for the subsequent revision. All information about all revisions
of all forms, instructions, and publications is at IRS.gov/formspubs.
Almost every form and publication also has its own easily accessible
information page on IRS.gov. For example, the Form 1040 page is at
IRS.gov/form1040; the Form W-2 page is at IRS.gov/w2; the Publication 17
page is at IRS.gov/pub17; the Form W-4 page is at IRS.gov/w4; the Form
8863 page is at IRS.gov/form8863; and the Schedule A (Form 1040) page is
at IRS.gov/schedulea. If typing in the links above instead of clicking on
them: type the link into the address bar of your browser, not in a Search box;
the text after the slash must be lowercase; and your browser may require the
link to begin with “www.”. Note that these are shortcut links that will
automatically go to the actual link for the page.
If you wish, you can submit comments about draft or final forms,
instructions, or publications on the Comment on Tax Forms and Publications
page on IRS.gov. We cannot respond to all comments due to the high
volume we receive, but we will carefully consider each one. Please note that
we may not be able to consider many suggestions until the subsequent
revision of the product.
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
Form 5498-QA
2015
Cat. No. 67556T
ABLE Account
Contribution
Information
Copy A
For
Internal Revenue
Service Center
Department of the Treasury - Internal Revenue Service
File with Form 1096.
OMB No. 1545-2262
For Privacy Act and
Paperwork Reduction
Act Notice, see the
2015 General
Instructions for
Certain Information
Returns.
YYYY VOID CORRECTED
ISSUER'S name, street address, city or town, state or province, country, and
ZIP or foreign postal code
ISSUER’S federal identification no. BENEFICIARY'S social security number
BENEFICIARY'S name
Street address (including apt. no.)
City or town, state or province, country, and ZIP or foreign postal code
Account number (see instructions)
1 ABLE contributions
$
2 Rollover contributions
$
3 Cumulative contributions
$
4 Fair market value
$
5 Check if account opened
in 2015
6 Basis of eligibility
7 Code
Form 5498-QA www.irs.gov/form5498qa
Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
Form 5498-QA
2015
ABLE Account
Contribution
Information
Copy B
For Beneficiary
Department of the Treasury - Internal Revenue Service
This information
is being furnished
to the Internal
Revenue Service.
OMB No. 1545-2262
CORRECTED
ISSUER'S name, street address, city or town, state or province, country, and
ZIP or foreign postal code
ISSUER’S federal identification no. BENEFICIARY'S social security number
BENEFICIARY'S name
Street address (including apt. no.)
City or town, state or province, country, and ZIP or foreign postal code
Account number (see instructions)
1 ABLE contributions
$
2 Rollover contributions
$
3 Cumulative contributions
$
4 Fair market value
$
5 If checked, account was
opened in 2015
6 Basis of eligibility
7 Code
Form 5498-QA (keep for your records) www.irs.gov/form5498qa
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
Instructions for Beneficiary
The information on Form 5498-QA is furnished to you by the issuer of
your Achieving a Better Life Experience (ABLE) savings account by
March 15, 2016. Form 5498-QA reports contributions and rollover
contributions made for you for 2015. For more information, see Pub. 907.
Beneficiary's taxpayer identification number. For your protection,
this form may show only the last four digits of your social security
number (SSN), individual taxpayer identification number (ITIN), or
adoption taxpayer identification number (ATIN). However, the issuer
has reported your complete identification number to the IRS.
Account number. May show an account or other unique number the issuer
assigned to distinguish your account.
Box 1. Shows ABLE account contributions made in 2015 on your
behalf. Do not deduct these amounts on your income tax return.
If the total contributions made to your ABLE account for 2015
exceeded $14,000, the excess contributions, plus the earnings on
them, must be returned by the date your tax return is due (including
extensions), or you may owe a penalty. Check with your ABLE
program to verify that excess contributions and earnings are returned.
You must keep track of your ABLE account basis (contributions and
distributions).
Box 2. Shows any rollover (including a direct rollover) you made in
2015. Generally, any amount rolled over from one ABLE account to
another ABLE account for the benefit of the named beneficiary or a
member of the beneficiary's family who is described in section 152(d)
(2)(B) is not taxable.
Box 3. Shows the cumulative contributions made to the ABLE
account.
Box 4. Shows the FMV of the ABLE account as of the end of the year.
Box 5. The ABLE account was opened in 2015 if the box is checked.
Box 6. These codes show the basis for your ABLE account eligibility.
A—eligibility established under 529A(e)(1)(A), SSDI, Title II SSA.
B—eligibility established under 529A(e)(1)(A), SSI, Title XVI SSA.
C—eligibility established by disability certification under section
529A(e)(1)(B).
Box 7. These codes show the type of disability for which you are
receiving ABLE account qualifying benefits. 1—developmental
disorders (including autism); 2—intellectual disability; 3—psychiatric
disorders; 4—nervous disorders (including blindness and deafness);
5—congenital anomalies (including Downs syndrome); 6—respiratory
disorders; 7—other.
Future developments. For the latest information about developments
related to Form 5498-QA and its instructions, such as legislation
enacted after they were published, go to www.irs.gov/form5498qa.
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
Form 5498-QA
2015
ABLE Account
Contribution
Information
Copy C
For Issuer
Department of the Treasury - Internal Revenue Service
OMB No. 1545-2262
For Privacy Act
and Paperwork
Reduction Act
Notice, see the
2015 General
Instructions for
Certain
Information
Returns.
VOID CORRECTED
ISSUER'S name, street address, city or town, state or province, country, and
ZIP or foreign postal code
ISSUER’S federal identification no. BENEFICIARY'S social security number
BENEFICIARY'S name
Street address (including apt. no.)
City or town, state or province, country, and ZIP or foreign postal code
Account number (see instructions)
1 ABLE contributions
$
2 Rollover contributions
$
3 Cumulative contributions
$
4 Fair market value
$
5 Check if account opened
in 2015
6 Basis of eligibility
7 Code
Form 5498-QA www.irs.gov/form5498qa
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
DO NOT FILE
June 18, 2015
DRAFT AS OF
Instructions for Issuer
To complete Form 5498-QA, use:
• the 2015 General Instructions for Certain Information
Returns, and
• the 2015 Instructions for Form 5498-QA.
To order these instructions and additional forms, go
to www.irs.gov/form5498qa.
Caution: Because paper forms are scanned during
processing, you cannot file Forms 1096, 1097, 1098,
1099, 3921, 3922, or 5498 that you download and print
from the IRS website.
Due dates. Furnish Copy B of this form to the
beneficiary (participant) by March 15, 2016.
File Copy A of this form with the IRS by May 31, 2016.
Need help? If you have questions about reporting on
Form 5498-QA, call the information reporting customer
service site toll free at 1-866-455-7438 or 304-263-8700
(not toll free). Persons with a hearing or speech
disability with access to TTY/TDD equipment can call
304-579-4827 (not toll free).

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Able tax draft instructions

  • 1. Caution: DRAFT—NOT FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information as a courtesy. Do not file draft forms. Also, do not rely on draft instructions and publications for filing. We generally do not release drafts of forms until we believe we have incorporated all changes. However, unexpected issues sometimes arise, or legislation is passed, necessitating a change to a draft form. In addition, forms generally are subject to OMB approval before they can be officially released. Drafts of instructions and publications usually have at least some changes before being officially released. Early releases of draft forms and instructions are at IRS.gov/draftforms. Please note that drafts may remain on IRS.gov even after the final release is posted at IRS.gov/downloadforms, and thus may not be removed until there is a new draft for the subsequent revision. All information about all revisions of all forms, instructions, and publications is at IRS.gov/formspubs. Almost every form and publication also has its own easily accessible information page on IRS.gov. For example, the Form 1040 page is at IRS.gov/form1040; the Form W-2 page is at IRS.gov/w2; the Publication 17 page is at IRS.gov/pub17; the Form W-4 page is at IRS.gov/w4; the Form 8863 page is at IRS.gov/form8863; and the Schedule A (Form 1040) page is at IRS.gov/schedulea. If typing in the links above instead of clicking on them: type the link into the address bar of your browser, not in a Search box; the text after the slash must be lowercase; and your browser may require the link to begin with “www.”. Note that these are shortcut links that will automatically go to the actual link for the page. If you wish, you can submit comments about draft or final forms, instructions, or publications on the Comment on Tax Forms and Publications page on IRS.gov. We cannot respond to all comments due to the high volume we receive, but we will carefully consider each one. Please note that we may not be able to consider many suggestions until the subsequent revision of the product.
  • 2. DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF Form 5498-QA 2015 Cat. No. 67556T ABLE Account Contribution Information Copy A For Internal Revenue Service Center Department of the Treasury - Internal Revenue Service File with Form 1096. OMB No. 1545-2262 For Privacy Act and Paperwork Reduction Act Notice, see the 2015 General Instructions for Certain Information Returns. YYYY VOID CORRECTED ISSUER'S name, street address, city or town, state or province, country, and ZIP or foreign postal code ISSUER’S federal identification no. BENEFICIARY'S social security number BENEFICIARY'S name Street address (including apt. no.) City or town, state or province, country, and ZIP or foreign postal code Account number (see instructions) 1 ABLE contributions $ 2 Rollover contributions $ 3 Cumulative contributions $ 4 Fair market value $ 5 Check if account opened in 2015 6 Basis of eligibility 7 Code Form 5498-QA www.irs.gov/form5498qa Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page
  • 3. DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF Form 5498-QA 2015 ABLE Account Contribution Information Copy B For Beneficiary Department of the Treasury - Internal Revenue Service This information is being furnished to the Internal Revenue Service. OMB No. 1545-2262 CORRECTED ISSUER'S name, street address, city or town, state or province, country, and ZIP or foreign postal code ISSUER’S federal identification no. BENEFICIARY'S social security number BENEFICIARY'S name Street address (including apt. no.) City or town, state or province, country, and ZIP or foreign postal code Account number (see instructions) 1 ABLE contributions $ 2 Rollover contributions $ 3 Cumulative contributions $ 4 Fair market value $ 5 If checked, account was opened in 2015 6 Basis of eligibility 7 Code Form 5498-QA (keep for your records) www.irs.gov/form5498qa
  • 4. DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF Instructions for Beneficiary The information on Form 5498-QA is furnished to you by the issuer of your Achieving a Better Life Experience (ABLE) savings account by March 15, 2016. Form 5498-QA reports contributions and rollover contributions made for you for 2015. For more information, see Pub. 907. Beneficiary's taxpayer identification number. For your protection, this form may show only the last four digits of your social security number (SSN), individual taxpayer identification number (ITIN), or adoption taxpayer identification number (ATIN). However, the issuer has reported your complete identification number to the IRS. Account number. May show an account or other unique number the issuer assigned to distinguish your account. Box 1. Shows ABLE account contributions made in 2015 on your behalf. Do not deduct these amounts on your income tax return. If the total contributions made to your ABLE account for 2015 exceeded $14,000, the excess contributions, plus the earnings on them, must be returned by the date your tax return is due (including extensions), or you may owe a penalty. Check with your ABLE program to verify that excess contributions and earnings are returned. You must keep track of your ABLE account basis (contributions and distributions). Box 2. Shows any rollover (including a direct rollover) you made in 2015. Generally, any amount rolled over from one ABLE account to another ABLE account for the benefit of the named beneficiary or a member of the beneficiary's family who is described in section 152(d) (2)(B) is not taxable. Box 3. Shows the cumulative contributions made to the ABLE account. Box 4. Shows the FMV of the ABLE account as of the end of the year. Box 5. The ABLE account was opened in 2015 if the box is checked. Box 6. These codes show the basis for your ABLE account eligibility. A—eligibility established under 529A(e)(1)(A), SSDI, Title II SSA. B—eligibility established under 529A(e)(1)(A), SSI, Title XVI SSA. C—eligibility established by disability certification under section 529A(e)(1)(B). Box 7. These codes show the type of disability for which you are receiving ABLE account qualifying benefits. 1—developmental disorders (including autism); 2—intellectual disability; 3—psychiatric disorders; 4—nervous disorders (including blindness and deafness); 5—congenital anomalies (including Downs syndrome); 6—respiratory disorders; 7—other. Future developments. For the latest information about developments related to Form 5498-QA and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form5498qa.
  • 5. DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF Form 5498-QA 2015 ABLE Account Contribution Information Copy C For Issuer Department of the Treasury - Internal Revenue Service OMB No. 1545-2262 For Privacy Act and Paperwork Reduction Act Notice, see the 2015 General Instructions for Certain Information Returns. VOID CORRECTED ISSUER'S name, street address, city or town, state or province, country, and ZIP or foreign postal code ISSUER’S federal identification no. BENEFICIARY'S social security number BENEFICIARY'S name Street address (including apt. no.) City or town, state or province, country, and ZIP or foreign postal code Account number (see instructions) 1 ABLE contributions $ 2 Rollover contributions $ 3 Cumulative contributions $ 4 Fair market value $ 5 Check if account opened in 2015 6 Basis of eligibility 7 Code Form 5498-QA www.irs.gov/form5498qa
  • 6. DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF DO NOT FILE June 18, 2015 DRAFT AS OF Instructions for Issuer To complete Form 5498-QA, use: • the 2015 General Instructions for Certain Information Returns, and • the 2015 Instructions for Form 5498-QA. To order these instructions and additional forms, go to www.irs.gov/form5498qa. Caution: Because paper forms are scanned during processing, you cannot file Forms 1096, 1097, 1098, 1099, 3921, 3922, or 5498 that you download and print from the IRS website. Due dates. Furnish Copy B of this form to the beneficiary (participant) by March 15, 2016. File Copy A of this form with the IRS by May 31, 2016. Need help? If you have questions about reporting on Form 5498-QA, call the information reporting customer service site toll free at 1-866-455-7438 or 304-263-8700 (not toll free). Persons with a hearing or speech disability with access to TTY/TDD equipment can call 304-579-4827 (not toll free).