What is the difference between Form 1099-SA and Form 5498-SA?

Form 5498-SA included details like,

• IRA ownership types, like name, address, and federal identification number
• This form includes all the contributions of the relevant years by the IRA.
•  Roll over funds from another account transferred into your IRA account. 

Form 1099-SA includes details like, 

On the left side of the form, you will see: 

• Personal information of the trustee or payer, like name, mobile number, and address. 
• Payer's Taxpayer Identification Number (TIN)
• Your Employer Identification Number (EIN)

On the right side of the Form, you will see details like: 

• The amount you have received or distributed to you through a direct medical provider. 
• Any earnings on the excess contributions. 
• Types of distributions. 
• Information about the account type. 
• Total value of the holder's account after their death. 

Form 5498-SA is received by the following: 

• Roth IRAs
• SEP IRS
• Deemed IRAs
• Traditional IRAs
• SIMPLE IRAs

Form 5498-SA is a form which have the information of IRA (Individual Retirement Account) contribution details to the IRS (Internal Revenue Service). However, this form is not essential to report with the tax return. On the other side, Form 1099-SA is a form that the IRS uses to help report the various health accounts, like HSA, Archer MSA, or Medicare Advantage. This form includes distributions from MSA, HSA, and MA accounts and covers distributions from the inherited accounts even if they are passed to spouses or non-spouses or estates.