January 19, 2022

2022 IRA & HSA Compliance Calendar

2022 IRA & HSA Compliance Calendar

 

January 31:   Deadline for reporting: (1) 2021 SIMPLE IRA contributions to accountholders, (2) December 31, 2021 IRA fair market values to accountholders, (3) 2021 IRA distributions to accountholders on Form 1099-R, (4) 2021 ESA distributions to recipients on Form 1099-Q, (5) 2021 HSA distributions to recipients on Form 1099-SA, and (6) 2022 RMD information to Traditional, SEP, and SIMPLE IRA owners who are age 72 or older in 2022.

 

February 28:   Deadline for paper filing to send 2021 Forms 1099-R, 1099-Q, and 1099-SA to the IRS.

 

March 15:   Standard deadline for calendar-year partnerships and S corporations to make SEP contributions and employer nonelective or matching SIMPLE IRA contributions for 2021.

 

March 31:   Deadline for electronic filers to send 2021 Forms 1099-R, 1099-Q, and 1099-SA to the IRS.

 

April 18:   Standard deadline for making Traditional IRA, Roth IRA, ESA, or HSA contributions for 2021. [2021 Instructions for Forms 1099-R and 5498] Standard deadline for calendar-year unincorporated businesses and C corporations to make SEP contributions and employer nonelective or matching SIMPLE IRA contributions for 2021.

 

May 2:   Deadline for reporting 2021 Form 5498-ESA information to ESA designated beneficiaries.

 

May 31:   Deadline for sending (1) 2021 Forms 5498, 5498-ESA, and 5498-SA to the IRS, (2) 2021 Form 5498 information to IRA holders, (3) 2021 Form 5498-SA information to HSA holders, and (4) completing a corrective distribution of a 2021 ESA contribution.

 

October 1:   Deadline for a business to establish a SIMPLE IRA plan for 2022, unless (1) the new business is established after October 1, 2022, or (2) the employer previously maintained a SIMPLE IRA plan.

 

October 17:   Deadline for: (1) recharacterizing 2021 IRA contributions (2) completing a corrective distribution from an IRA for a contribution for 2021, for taxpayers who file their 2021 federal income tax return on a timely basis and (3) eligible employers to make SEP contributions and employer nonelective or matching SIMPLE IRA contributions for 2021.

 

December 31:   Deadline for paying lifetime RMDs to Traditional, SEP, or SIMPLE IRA owners who attained age 72 before 2022 and for paying 2022 death RMDs to Traditional, Roth, SEP, and SIMPLE IRA beneficiaries.