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Tax Form 5498

What is a 5498?
This tax document reports all contributions made into your retirement account during the year. These are the current list of retirements accounts you can have on M1:

  1. Traditional
  2. Roth
  3. SEP

How do I know if I should receive a 5498?
M1 will always notify you via email if you are eligible for a tax document. You may also check by confirming if you made any contributions, completed a transfer or rollover to your account for the current taxable year.

Where can I find this document?
Log into your M1 account and select the "Invest" tab. After, select the "Activity" tab and you will see a section that says "Tax Forms". Once that is selected, you will see the tax form(s) if you are eligible.

If I received a 5498, what should I do with it?
M1 Finance does not provide legal or tax advice. Make sure you consult with a legal or tax professional if you have any questions on how this tax document will impact you.

 

 

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