{"id":4227,"date":"2020-05-21T06:30:23","date_gmt":"2020-05-21T11:30:23","guid":{"rendered":"http:\/\/www.camsbycbs.com\/wordpress\/?p=4227"},"modified":"2020-05-20T18:03:59","modified_gmt":"2020-05-20T23:03:59","slug":"ira-and-hsa-processing","status":"publish","type":"post","link":"http:\/\/www.camsbycbs.com\/wordpress\/?p=4227","title":{"rendered":"IRA and HSA Processing"},"content":{"rendered":"

Due to changes made by the IRS in response to COVID-19 for the IRA and HSA prior-year contributions reporting dates, we have had some questions regarding creating IRS Form 5498s for reporting directly to the IRS or third-party IRA processors. CBS can assist with this process.<\/p>\n

If you need proof lists, want to maintain, and\/or export files prior to the July 15th date, please contact CBS via the CTT by June 3, 2020.<\/p>\n

Please read the following instructions to assist you with processing your associated IRA and HSA forms\/information to the IRS and\/or third parties. <\/i><\/p>\n

For IRAs:<\/b><\/p>\n

    \n
  1. Ensure that the Control-IRAs parameter (Back Office > Standard > Parameters) setting, Cutoff Day for Previous Year Contributions<\/b>, is set to JUL 15<\/b>. <\/li>\n
  2. If it is NOT set to JUL 15, re-set the setting to JUL 15. The 5498 driver file will update properly with the correct account types and previous-year contributions. <\/li>\n<\/ol>\n

    For HSAs:<\/b><\/p>\n

      \n
    1. Ensure that the Control-Health Savings parameter (Back Office > Standard > Parameters) setting, Cutoff Day for Previous Year Contributions<\/b>, is set to JUL 15<\/b>. <\/li>\n
    2. If it is NOT set to JUL 15, re-set the setting to JUL 15. The 5498 driver file will update properly with the correct account types and previous-year contributions. <\/li>\n<\/ol>\n

      Please address any questions regarding this posting to the CBS CTT. <\/p>\n","protected":false},"excerpt":{"rendered":"

      Due to changes made by the IRS in response to COVID-19 for the IRA and HSA prior-year contributions reporting dates, we have had some questions regarding creating IRS Form 5498s for reporting directly to the IRS or third-party IRA processors. CBS can assist with this process. If you need proof lists, want to maintain, and\/or […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,9],"tags":[],"_links":{"self":[{"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/4227"}],"collection":[{"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4227"}],"version-history":[{"count":11,"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/4227\/revisions"}],"predecessor-version":[{"id":4239,"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/4227\/revisions\/4239"}],"wp:attachment":[{"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4227"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.camsbycbs.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}