Pat_Rice71
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HSA Contribution Correction Post Transfer
Pat_Rice71 replied to Pat_Rice71's topic in Health Savings Accounts (HSAs)
Thank you both! -
I am looking for some guidance on the following scenario please. In January 2023 an HSA account holder intended to contribute x amount toward the 2022 tax year. Howeever, in error, he contributed the funds toward the 2023 tax year. In February 2023 all funds are transferred to a new HSA trustee in a trustee-to-trustee transfer. In March the account holder realizes the error and requests to have the January contribution recoded as a 2022 contribution. What obligation does the new trustee have to make this correction? How will this correction affect the trustee's 5498-SA filing?