On April 10, 2020, the IRS issued Notice 2020-23 that postponed numerous time-sensitive acts – many of which are IRA related. Included in this list of time-sensitive acts are IRA providers’ filing of IRS Form 5498 with the IRS and providing an Annual Account Statement (which may be satisfied using a copy of Form 5498) to IRA owners and beneficiaries. With this relief, IRA providers have until July 15th to both file 2019 Forms 5498 with the IRS, and to provide Annual Account Statements to IRA owners and beneficiaries.
While the deadline for filing/providing the 2019 Form 5498 has been changed under this relief, the requirements of what to report on the 2019 Form 5498 remain unchanged; there have been no revisions to the 2019 Instructions for Form 1099-R and 5498 that were issued on December 18, 2018.