Pre-File Now
E-File Form 5498-ESA Online
for the 2024
Tax Year
TaxBandits offers premier features to make your 5498-ESA filing
easy, secure, and accurate.
Why E-file with TaxBandits?
- Easy, secure, and accurate filing
- Automatic Generation of Form 1096
- Built-in error check system for
accurate returns - Multi-user access to manage filing
- Seamless support via live chat, phone
and email
Check out What’s New!
How to E-file Form 5498-ESA with TaxBandits
Select Form 5498-SA, choose the appropriate tax year, and proceed. With TaxBandits, you can file Form 5498-ESA for current and previous tax years.
Enter the required 5498-ESA information about the Trustee or Issuer and Beneficiary.
Enter the required information about the Coverdell ESA & Rollover contribution in the 5498-ESA Form.
Review the information entered on Form 5498-ESA and make necessary changes
if needed.
After reviewing the form, proceed to make the payment and then transmit the completed Form 5498-ESA to the IRS.
When filing your Form 5498-ESA with TaxBandits, you can mail participant copies.
Just choose “Postal Mail”, and we'll handle the rest!
What Information is Required to E-File Form 5498-ESA Online?
1. Trustees or Issuers’ Details: Name, TIN, Address, and Contact Information
2. Beneficiary’s Details: Name, TIN, Address, and Contact Information
- Coverdell ESA Contribution Information
- Rollover Contribution Information
Are you ready to file your 5498-ESA Form? Get started with your free
TaxBandits account!
Unique Features To Make Your 5498-ESA E-filing Easy
Deliver Recipient Copies
To distribute the recipient copies of your 5498-ESA, you can use our postal mail or online access options.
Internal Audit Check
TaxBandits validates that your completed 5498-ESA Form follows the IRS business rules, guaranteeing accurate filing.
Access to Form Copies
You can access your Form copies anytime. TaxBandits securely keeps a record of the copies of your transmitted forms that have been transmitted for 7 years.
Real-Time Notifications
You will receive an email notification instantly regarding the status of your Form 5498-ESA.
PRO Features-Exclusive E-file Solution for Tax Pros
Staff Management
Invite your team members to prepare and submit the 5498-ESA filings for our clients. Assign them the task accordingly.
Client Management
Handle 5498-ESA filings for various clients, each with unique TINs, and provide access to a secure portal for client review before submission.
Additional User Access
TaxBandits allows you to allot specific roles to unlimited users within a single account, optimizing account management and facilitating seamless collaboration.
Success Starts with TaxBandits!
Very easy to find my way around, most help features are very good, customer service response has been exceptional for the price point.
Work flow makes sense, navigation is easy, customer service is excellent with prompt call backs and thoughtful support.
Excellent Step by Step process and easy to go back and make edits....
Very easy navigation going forward and backwards. I usually have trouble online with confusing instructions. Yours is very easy.
Easy and reasonably priced. Great customer service!
I’m quite impressed, especially in comparison with other sites from the IRS list I reviewed as well. Well done. Thank you.
Excellent Step by Step process and easy to go back and make edits....
Very easy navigation going forward and backwards. I usually have trouble online with confusing instructions. Yours is very easy.
Easy and reasonably priced. Great customer service!
I’m quite impressed, especially in comparison with other sites from the IRS list I reviewed as well. Well done. Thank you.
Very easy to find my way around, most help features are very good, customer service response has been exceptional for the price point.
Work flow makes sense, navigation is easy, customer service is excellent with prompt call backs and thoughtful support.
Frequently Asked Questions
What is Form 5498-ESA?
Form 5498-ESA, Coverdell Education Savings Accounts (ESA) Contribution Information, with the IRS for each person that maintained any Coverdell Education Savings Account (ESA) during the year.
A Coverdell ESA is a trust or custodial account created or organized exclusively to pay the qualified education expenses of an individual who is the designated beneficiary of the trust or custodial account. The individual referred to as the “designated beneficiary” is the person on whose behalf the ESA is set.
Generally, if a total distribution was made from an account with no contributions (including rollovers) for that year, then you do not need to file Form 5498-ESA. To learn more about Form 5498-ESA, visit irs.gov.
Are you ready to report your 5498-ESA Form? Get started with TaxBandits & file in a matter of minutes!
Start E-Filing Now
When is Form 5498-ESA E-Filing Deadline for 2024 Tax Year?
The Form 5498-ESA due to the designated beneficiary is by May 31, 2025.
The deadline for E-filing Form 5498-ESA with the IRS is May 31, 2025.
Learn more about the
2024 Form 5498 ESA deadline.
What Happens If My Contributions Exceed The Limit?
If the contribution exceeds more than the annual allowable amount into an ESA, unless the extra contributions are removed by June 1st of the following tax year, a yearly excess contribution penalty of 6% will be assessed to the exceeded amount for each year until the excess contribution is either removed or re-designated.
To remove an excess contribution, the customer should complete the ESA Distribution Request Form. Once removed, the customer will not receive an amended
Form 5498-ESA but IRS Form 1099-Q will be issued instead to report the removal of the excess contribution.
