VOIDPaper only: marks a form on a sheet that should be ignored. It is not a correction; a filed return is undone with a corrected return.How corrections workCORRECTEDChecked on a return that replaces one already filed. Which fields to repeat, and whether two returns are needed, depends on the error.Type 1 vs Type 2 correctionsTrustee's or issuer's nameThe filer's legal name as tied to its EIN on IRS records, on the first line; a trade name goes on the second. Filed under the wrong name the whole batch can fail to post.Check the filer blockBox 1: Coverdell ESA contributionsWhat goes hereContributions made for the calendar year, including those made from January 1 through April 15 of the next year that are designated for this year. Get the participant's designation for contributions made in that window.Watch forRollovers do not go here; report them in box 2.Click to open the row in the box tableTrustee's or issuer's street addressStreet or P.O. box of the filer, where the recipient can write about the form. Not matched against IRS records.Trustee's or issuer's room or suiteSecond address line, optional.Box 2: Rollover contributionsWhat goes hereRollover contributions you received during the calendar year, including a direct trustee-to-trustee transfer from another Coverdell ESA, a rollover from certain U.S. Savings Bonds, and a military death gratuity.Watch forUnlike box 1, this box counts only what you received during the calendar year. Distributions from the account go on Form 1099-Q.Click to open the row in the box tableTrustee's or issuer's city or townCity of the filer's address. A foreign filer gives the city and leaves the state blank.Trustee's or issuer's state or provinceTwo-letter state code for a U.S. address; the province for a foreign one.Trustee's or issuer's countryBlank or US for a domestic address; the country for a foreign filer.Trustee's or issuer's ZIP or postal codeFive or nine digits for a U.S. address; the foreign postal code otherwise.Calendar yearWhat goes hereThe four-digit calendar year the form is filed for, the year the contributions are designated for.Watch forThe December 2026 revision is continuous use: use it for 2026 information filed in early 2027 and later years until replaced, never for years before 2026.The 2027 calendarTrustee's/issuer's TINThe EIN the returns are filed under; it must match the filer name on the first line. A sole proprietor may use an SSN, with the owner's name first.Check the filer blockBeneficiary's TINWhat goes hereThe beneficiary's SSN, ITIN, ATIN or EIN.Watch forYou may truncate it on the beneficiary's statement, never on anything filed with the IRS. The trustee's or issuer's TIN may not be truncated on any form.Match it before you fileBeneficiary's nameWhat goes hereThe designated beneficiary of the Coverdell ESA, the individual whose qualified education expenses the account is for.Watch forFile a form for each person for whom you maintained any Coverdell ESA during the year, unless no reportable contributions or rollovers were made for the year.Which name goes firstBeneficiary's street addressWhere the recipient copy is mailed. From the W-9 line 5; the IRS does not match it, but an undeliverable copy is a furnishing failure.Beneficiary's apartment or suiteSecond address line, optional. Keep it on its own line rather than appended to the street.Beneficiary's city or townCity of the mailing address, from the W-9 line 6.Beneficiary's state or provinceTwo-letter state code; it also drives which state copies are needed when there is no withholding.State filing requirementsBeneficiary's countryBlank or US for a domestic address. A foreign address is a flag to check whether a W-8 and Form 1042-S were the right documents instead.Foreign payeesBeneficiary's ZIP or postal codeFive or nine digits for a U.S. address, or the foreign postal code.Account numberWhat goes hereYour account number for this Coverdell ESA.Required whenYou have more than one account for the beneficiary and file more than one Form 5498-ESA for that person. The IRS encourages one on every form.Hover over a box for what goes in it; click to open its row in the table below. On a touch screen, tap the box to jump to the row.
Who must file Form 5498-ESA
The trustee or issuer of a Coverdell ESA must file Form 5498-ESA for each designated beneficiary for whom a contribution or rollover contribution was made during the calendar year, and furnish a statement to the beneficiary by April 30. Contributions made by the return due date for the prior year are reported for that prior year. No form is required for an account with no contributions in the year. Distributions are reported on Form 1099-Q. Form 5498-ESA is now a continuous-use form and is one of the low-volume forms the IRS lets you fill in online and file on paper with Form 1096 if you are under the e-file mandate.
Threshold: All amounts, every Coverdell ESA that received a contribution or rollover contribution during the year.
What is reported, box by box
| Box | What it reports | Notes |
|---|---|---|
| 1 | Coverdell ESA contributions | Any amountNo form is needed if no reportable contributions were made. Contributions designated for the year, including those made through April 15 of the next year. Rollovers go in box 2, not here. |
| 2 | Rollover contributions | Any amountRollovers received during the calendar year, including direct trustee-to-trustee transfers from another Coverdell ESA, certain U.S. Savings Bonds and a military death gratuity. Distributions go on 1099-Q. |
Box titles follow the current revision of the form. The IRS reads the payer and recipient name, TIN, address, account number and the money boxes; the state boxes are for the state copy only.
Payments that are not reported on Form 5498-ESA
- Accounts with no contributions or rollovers in the year.
- Transfers that change the designated beneficiary to a family member without a rollover.
Due dates and extensions
| Copy | Due | For 2026 returns |
|---|---|---|
| To the IRS, paper | May 31 | Tuesday, June 1, 2027 (May 31 is Memorial Day) |
| To the IRS, electronic | May 31 | Tuesday, June 1, 2027 (May 31 is Memorial Day) |
| To the recipient | April 30 | Friday, April 30, 2027 |
An automatic 30-day extension is available on Form 8809, filed by the due date on paper or through IRIS; a second 30 days requires a hardship showing. Recipient statements can be extended 30 days on Form 15397, online or by fax only. 10 or more information returns of any type in aggregate must be e-filed (T.D. 9972); IRIS is the only IRS intake system from filing season 2027, FIRE having been retired. A payer who e-files the originals must e-file the corrections.
For 2026 forms filed in 2027: January 31 falls on a Sunday, so that deadline moves to Monday, February 1, 2027; February 28 also falls on a Sunday, so the paper deadline moves to Monday, March 1, 2027. March 31 (electronic) and March 15 are weekdays. February 28 does not become February 29 in a leap year. The compliance calendar has every date with the weekend shifts applied.
Withholding and TIN matching
Contributions are not payments; backup withholding does not apply and the form is not in the IRS TIN Matching program. The penalty is $50 per return under IRC 6693IRC 6693Internal Revenue Code, Cornell LII. The beneficiary is a child whose SSN was supplied by a parent at account opening; the name on the account is frequently a nickname or omits a later name change, so a check against the SSA record before the first 1099-Q distribution years later saves a CP2100 line.
Name and TIN errors on this form
Every information return is matched by the IRS on the first four characters of the payee's name (the name control) against the TIN. For this form the penalty is IRC 6693IRC 6693Internal Revenue Code, Cornell LII: $50 per return for each failure to file or furnish, with no annual maximum, unless the failure was due to reasonable cause. A mismatch still produces a CP2100 line the following autumn. The errors that recur on Form 5498-ESA:
- Beneficiary, not contributor. The designated beneficiary (the child) is the recipient on the form, under the child's SSN; the parent or other contributor is not named.
- Change of beneficiary to a family member creates a new account record under the new beneficiary's SSN going forward.
The name control calculator shows what the IRS will derive from a name line, and the CP2100 guide covers what to do when the notice arrives.
Recipient statements and substitutes
The recipient statement for Form 5498-ESA need not be a copy of the official form: a substitute may be combined with other account statements or reports, provided every required item is numbered and titled as on the official form, the tax year, form number and form name appear together, the recipient instructions are included, and, for the forms Pub 1099 lists, a telephone number with direct access to someone who can answer questions is shown. Publication 1179 (Rev. Proc. 2026-18) has the specifications; logos, slogans and advertising are not permitted on the statement itself. Statements may be furnished electronically only to a recipient who has affirmatively consented in a way that shows they can access the format, after the disclosures in Pub 1099 part M, and must stay posted through October 15. Copy B may show a truncated TIN (xxx-xx-1234); the IRS copy never may. The consent rules for furnishing statements electronically are under review: Notice 2026-4 asked for comments (due May 23, 2026) on whether the broker rules, and then the rules for every other payee statement, should change.
Corrections and state copies
A wrong amount, code or checkbox is a Type 1 correction: one corrected return with the CORRECTED box checked. The wrong form type is a Type 2 correction: a zeroed-out copy of the original plus a new original, in that order. A wrong or missing payee TIN or name is also Type 2 on paper, but IRIS corrects it in one step on the original record (Publication 5717). Publication 1099 also says you are not required to file a correction for a missing or incorrect TIN if you meet the reasonable-cause standard, only to use the right TIN on the next return, although the IRS encourages the correction. Details and the paper error charts are on the 1099 corrections page.
Form 5498-ESA is not in the Combined Federal/State Filing program, so any state that requires it must receive it directly. Requirements by state are on the state pages.
Questions people ask about Form 5498-ESA
Why is the beneficiary's statement due April 30?
So the family can verify the $2,000 annual contribution limit before the April filing deadline; the IRS copy follows on May 31.
Do we report a transfer between two Coverdell ESAs?
Yes, as a rollover contribution in box 2 on the receiving trustee's form.
Which penalty applies?
$50 per return under IRC 6693IRC 6693Internal Revenue Code, Cornell LII.
Other federal forms
1042-S · 1097-BTC · 1098 · 1098-C · 1098-E · 1098-F · 1098-Q · 1098-T · 1098-VLI · 1099-A · 1099-B · 1099-C · 1099-CAP · 1099-DIV · 1099-G · 1099-INT · 1099-K · 1099-LPS · 1099-LS · 1099-LTC · 1099-MISC · 1099-NEC · 1099-OID · 1099-PATR · 1099-Q · 1099-QA · 1099-R · 1099-S · 1099-SA · 1099-SB · 3921 · 3922 · 5498 · 5498-QA · 5498-SA · 5498-TA · W-2G · 1099-DA · Comparison table
Sources: IRS Publication 1099 (2026), General Instructions for Certain Information Returns, which replaced the separate General Instructions starting with tax year 2026; Instructions for Form 5498-ESA (continuous use); Pub 1099 (2026) What's New, Guide to Information Returns and part O; IRC 530IRC 530Internal Revenue Code, Cornell LII, 6693. Threshold amounts are indexed for inflation from calendar year 2027; check IRS.gov/InflationAdjustment for the current year.