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Federal Tax Form 1040x

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Federal Tax Form 1040x

Federal tax form 1040x Publication 969 - Main Content Table of Contents Health Savings Accounts (HSAs)Qualifying for an HSA Contributions to an HSA Distributions From an HSA Balance in an HSA Death of HSA Holder Filing Form 8889 Employer Participation Medical Savings Accounts (MSAs)Archer MSAs Contributions to an MSA Distributions From an MSA Balance in an Archer MSA Death of the Archer MSA Holder Filing Form 8853 Employer Participation Medicare Advantage MSAs Flexible Spending Arrangements (FSAs)Qualifying for an FSA Contributions to an FSA Distributions From an FSA Balance in an FSA Employer Participation Health Reimbursement Arrangements (HRAs)Qualifying for an HRA Contributions to an HRA Distributions From an HRA Balance in an HRA Employer Participation How To Get Tax HelpLow Income Taxpayer Clinics Health Savings Accounts (HSAs) A health savings account (HSA) is a tax-exempt trust or custodial account you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. Federal tax form 1040x You must be an eligible individual to qualify for an HSA. Federal tax form 1040x No permission or authorization from the IRS is necessary to establish an HSA. Federal tax form 1040x You set up an HSA with a trustee. Federal tax form 1040x A qualified HSA trustee can be a bank, an insurance company, or anyone already approved by the IRS to be a trustee of individual retirement arrangements (IRAs) or Archer MSAs. Federal tax form 1040x The HSA can be established through a trustee that is different from your health plan provider. Federal tax form 1040x Your employer may already have some information on HSA trustees in your area. Federal tax form 1040x If you have an Archer MSA, you can generally roll it over into an HSA tax free. Federal tax form 1040x See Rollovers, later. Federal tax form 1040x What are the benefits of an HSA?   You may enjoy several benefits from having an HSA. Federal tax form 1040x You can claim a tax deduction for contributions you, or someone other than your employer, make to your HSA even if you do not itemize your deductions on Form 1040. Federal tax form 1040x Contributions to your HSA made by your employer (including contributions made through a cafeteria plan) may be excluded from your gross income. Federal tax form 1040x The contributions remain in your account until you use them. Federal tax form 1040x The interest or other earnings on the assets in the account are tax free. Federal tax form 1040x Distributions may be tax free if you pay qualified medical expenses. Federal tax form 1040x See Qualified medical expenses , later. Federal tax form 1040x An HSA is “portable. Federal tax form 1040x ” It stays with you if you change employers or leave the work force. Federal tax form 1040x Qualifying for an HSA To be an eligible individual and qualify for an HSA, you must meet the following requirements. Federal tax form 1040x You must be covered under a high deductible health plan (HDHP), described later, on the first day of the month. Federal tax form 1040x You have no other health coverage except what is permitted under Other health coverage , later. Federal tax form 1040x You are not enrolled in Medicare. Federal tax form 1040x You cannot be claimed as a dependent on someone else's 2013 tax return. Federal tax form 1040x Under the last-month rule, you are considered to be an eligible individual for the entire year if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers). Federal tax form 1040x If you meet these requirements, you are an eligible individual even if your spouse has non-HDHP family coverage, provided your spouse's coverage does not cover you. Federal tax form 1040x If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an HSA contribution. Federal tax form 1040x This is true even if the other person does not actually claim your exemption. Federal tax form 1040x Each spouse who is an eligible individual who wants an HSA must open a separate HSA. Federal tax form 1040x You cannot have a joint HSA. Federal tax form 1040x High deductible health plan (HDHP). Federal tax form 1040x   An HDHP has: A higher annual deductible than typical health plans, and A maximum limit on the sum of the annual deductible and out-of-pocket medical expenses that you must pay for covered expenses. Federal tax form 1040x Out-of-pocket expenses include copayments and other amounts, but do not include premiums. Federal tax form 1040x   An HDHP may provide preventive care benefits without a deductible or with a deductible less than the minimum annual deductible. Federal tax form 1040x Preventive care includes, but is not limited to, the following. Federal tax form 1040x Periodic health evaluations, including tests and diagnostic procedures ordered in connection with routine examinations, such as annual physicals. Federal tax form 1040x Routine prenatal and well-child care. Federal tax form 1040x Child and adult immunizations. Federal tax form 1040x Tobacco cessation programs. Federal tax form 1040x Obesity weight-loss programs. Federal tax form 1040x Screening services. Federal tax form 1040x This includes screening services for the following: Cancer. Federal tax form 1040x Heart and vascular diseases. Federal tax form 1040x Infectious diseases. Federal tax form 1040x Mental health conditions. Federal tax form 1040x Substance abuse. Federal tax form 1040x Metabolic, nutritional, and endocrine conditions. Federal tax form 1040x Musculoskeletal disorders. Federal tax form 1040x Obstetric and gynecological conditions. Federal tax form 1040x Pediatric conditions. Federal tax form 1040x Vision and hearing disorders. Federal tax form 1040x For more information on screening services, see Notice 2004-23, 2004-15 I. Federal tax form 1040x R. Federal tax form 1040x B. Federal tax form 1040x 725 available at www. Federal tax form 1040x irs. Federal tax form 1040x gov/irb/2004-15_IRB/ar10. Federal tax form 1040x html. Federal tax form 1040x     The following table shows the minimum annual deductible and maximum annual deductible and other out-of-pocket expenses for HDHPs for 2013. Federal tax form 1040x      Self-only coverage Family coverage Minimum annual deductible $1,250 $2,500 Maximum annual deductible and other out-of-pocket expenses* $6,250 $12,500 * This limit does not apply to deductibles and expenses for out-of-network services if the plan uses a network of providers. Federal tax form 1040x Instead, only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies. Federal tax form 1040x    The following table shows the minimum annual deductible and maximum annual deductible and other out-of-pocket expenses for HDHPs for 2014. Federal tax form 1040x      Self-only coverage Family coverage Minimum annual deductible $1,250 $2,500 Maximum annual deductible and other out-of-pocket expenses* $6,350 $12,700 * This limit does not apply to deductibles and expenses for out-of-network services if the plan uses a network of providers. Federal tax form 1040x Instead, only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies. Federal tax form 1040x   Self-only HDHP coverage is an HDHP covering only an eligible individual. Federal tax form 1040x Family HDHP coverage is an HDHP covering an eligible individual and at least one other individual (whether or not that individual is an eligible individual). Federal tax form 1040x Example. Federal tax form 1040x An eligible individual and his dependent child are covered under an “employee plus one” HDHP offered by the individual's employer. Federal tax form 1040x This is family HDHP coverage. Federal tax form 1040x Family plans that do not meet the high deductible rules. Federal tax form 1040x   There are some family plans that have deductibles for both the family as a whole and for individual family members. Federal tax form 1040x Under these plans, if you meet the individual deductible for one family member, you do not have to meet the higher annual deductible amount for the family. Federal tax form 1040x If either the deductible for the family as a whole or the deductible for an individual family member is less than the minimum annual deductible for family coverage, the plan does not qualify as an HDHP. Federal tax form 1040x Example. Federal tax form 1040x You have family health insurance coverage in 2013. Federal tax form 1040x The annual deductible for the family plan is $3,500. Federal tax form 1040x This plan also has an individual deductible of $1,500 for each family member. Federal tax form 1040x The plan does not qualify as an HDHP because the deductible for an individual family member is less than the minimum annual deductible ($2,500) for family coverage. Federal tax form 1040x Other health coverage. Federal tax form 1040x   You (and your spouse, if you have family coverage) generally cannot have any other health coverage that is not an HDHP. Federal tax form 1040x However, you can still be an eligible individual even if your spouse has non-HDHP coverage provided you are not covered by that plan. Federal tax form 1040x    You can have additional insurance that provides benefits only for the following items. Federal tax form 1040x Liabilities incurred under workers' compensation laws, tort liabilities, or liabilities related to ownership or use of property. Federal tax form 1040x A specific disease or illness. Federal tax form 1040x A fixed amount per day (or other period) of hospitalization. Federal tax form 1040x   You can also have coverage (whether provided through insurance or otherwise) for the following items. Federal tax form 1040x Accidents. Federal tax form 1040x Disability. Federal tax form 1040x Dental care. Federal tax form 1040x Vision care. Federal tax form 1040x Long-term care. Federal tax form 1040x    Plans in which substantially all of the coverage is through the items listed earlier are not HDHPs. Federal tax form 1040x For example, if your plan provides coverage substantially all of which is for a specific disease or illness, the plan is not an HDHP for purposes of establishing an HSA. Federal tax form 1040x Prescription drug plans. Federal tax form 1040x   You can have a prescription drug plan, either as part of your HDHP or a separate plan (or rider), and qualify as an eligible individual if the plan does not provide benefits until the minimum annual deductible of the HDHP has been met. Federal tax form 1040x If you can receive benefits before that deductible is met, you are not an eligible individual. Federal tax form 1040x Other employee health plans. Federal tax form 1040x   An employee covered by an HDHP and a health FSA or an HRA that pays or reimburses qualified medical expenses generally cannot make contributions to an HSA. Federal tax form 1040x Health FSAs and HRAs are discussed later. Federal tax form 1040x   However, an employee can make contributions to an HSA while covered under an HDHP and one or more of the following arrangements. Federal tax form 1040x Limited-purpose health FSA or HRA. Federal tax form 1040x These arrangements can pay or reimburse the items listed earlier under Other health coverage except long-term care. Federal tax form 1040x Also, these arrangements can pay or reimburse preventive care expenses because they can be paid without having to satisfy the deductible. Federal tax form 1040x Suspended HRA. Federal tax form 1040x Before the beginning of an HRA coverage period, you can elect to suspend the HRA. Federal tax form 1040x The HRA does not pay or reimburse, at any time, the medical expenses incurred during the suspension period except preventive care and items listed under Other health coverage. Federal tax form 1040x When the suspension period ends, you are no longer eligible to make contributions to an HSA. Federal tax form 1040x Post-deductible health FSA or HRA. Federal tax form 1040x These arrangements do not pay or reimburse any medical expenses incurred before the minimum annual deductible amount is met. Federal tax form 1040x The deductible for these arrangements does not have to be the same as the deductible for the HDHP, but benefits may not be provided before the minimum annual deductible amount is met. Federal tax form 1040x Retirement HRA. Federal tax form 1040x This arrangement pays or reimburses only those medical expenses incurred after retirement. Federal tax form 1040x After retirement you are no longer eligible to make contributions to an HSA. Federal tax form 1040x Health FSA – grace period. Federal tax form 1040x   Coverage during a grace period by a general purpose health FSA is allowed if the balance in the health FSA at the end of its prior year plan is zero. Federal tax form 1040x See Flexible Spending Arrangements (FSAs) , later. Federal tax form 1040x Contributions to an HSA Any eligible individual can contribute to an HSA. Federal tax form 1040x For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. Federal tax form 1040x For an HSA established by a self-employed (or unemployed) individual, the individual can contribute. Federal tax form 1040x Family members or any other person may also make contributions on behalf of an eligible individual. Federal tax form 1040x Contributions to an HSA must be made in cash. Federal tax form 1040x Contributions of stock or property are not allowed. Federal tax form 1040x Limit on Contributions The amount you or any other person can contribute to your HSA depends on the type of HDHP coverage you have, your age, the date you become an eligible individual, and the date you cease to be an eligible individual. Federal tax form 1040x For 2013, if you have self-only HDHP coverage, you can contribute up to $3,250. Federal tax form 1040x If you have family HDHP coverage, you can contribute up to $6,450. Federal tax form 1040x For 2014, if you have self-only HDHP coverage, you can contribute up to $3,300. Federal tax form 1040x If you have family HDHP coverage you can contribute up to $6,550. Federal tax form 1040x If you were, or were considered (under the last-month rule, discussed later), an eligible individual for the entire year and did not change your type of coverage, you can contribute the full amount based on your type of coverage. Federal tax form 1040x However, if you were not an eligible individual for the entire year or changed your coverage during the year, your contribution limit is the greater of: The limitation shown on the Line 3 Limitation Chart and Worksheetin the Instructions for Form 8889, Health Savings Accounts (HSAs), or The maximum annual HSA contribution based on your HDHP coverage (self-only or family) on the first day of the last month of your tax year. Federal tax form 1040x If you had family HDHP coverage on the first day of the last month of your tax year, your contribution limit for 2013 is $6,450 even if you changed coverage during the year. Federal tax form 1040x Last-month rule. Federal tax form 1040x   Under the last-month rule, if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers), you are considered an eligible individual for the entire year. Federal tax form 1040x You are treated as having the same HDHP coverage for the entire year as you had on the first day of the last month. Federal tax form 1040x Testing period. Federal tax form 1040x   If contributions were made to your HSA based on you being an eligible individual for the entire year under the last-month rule, you must remain an eligible individual during the testing period. Federal tax form 1040x For the last-month rule, the testing period begins with the last month of your tax year and ends on the last day of the 12th month following that month. Federal tax form 1040x For example, December 1, 2013, through December 31, 2014. Federal tax form 1040x   If you fail to remain an eligible individual during the testing period, other than because of death or becoming disabled, you will have to include in income the total contributions made to your HSA that would not have been made except for the last-month rule. Federal tax form 1040x You include this amount in your income in the year in which you fail to be an eligible individual. Federal tax form 1040x This amount is also subject to a 10% additional tax. Federal tax form 1040x The income and additional tax are shown on Form 8889, Part III. Federal tax form 1040x Example 1. Federal tax form 1040x Chris, age 53, becomes an eligible individual on December 1, 2013. Federal tax form 1040x He has family HDHP coverage on that date. Federal tax form 1040x Under the last-month rule, he contributes $6,450 to his HSA. Federal tax form 1040x Chris fails to be an eligible individual in June 2014. Federal tax form 1040x Because Chris did not remain an eligible individual during the testing period (December 1, 2013, through December 31, 2014), he must include in his 2014 income the contributions made in 2013 that would not have been made except for the last-month rule. Federal tax form 1040x Chris uses the worksheet in the Form 8889 instructions to determine this amount. Federal tax form 1040x January -0- February -0- March -0- April -0- May -0- June -0- July -0- August -0- September -0- October -0- November -0- December $6,450. Federal tax form 1040x 00 Total for all months $6,450. Federal tax form 1040x 00 Limitation. Federal tax form 1040x Divide the total by 12 $537. Federal tax form 1040x 50 Chris would include $5,912. Federal tax form 1040x 50 ($6,450. Federal tax form 1040x 00 – $537. Federal tax form 1040x 50) in his gross income on his 2014 tax return. Federal tax form 1040x Also, a 10% additional tax applies to this amount. Federal tax form 1040x Example 2. Federal tax form 1040x Erika, age 39, has self-only HDHP coverage on January 1, 2013. Federal tax form 1040x Erika changes to family HDHP coverage on November 1, 2013. Federal tax form 1040x Because Erika has family HDHP coverage on December 1, 2013, she contributes $6,450 for 2013. Federal tax form 1040x Erika fails to be an eligible individual in March 2014. Federal tax form 1040x Because she did not remain an eligible individual during the testing period (December 1, 2013, through December 31, 2014), she must include in income the contribution made that would not have been made except for the last-month rule. Federal tax form 1040x Erika uses the worksheet in the Form 8889 instructions to determine this amount. Federal tax form 1040x January $3,250. Federal tax form 1040x 00 February $3,250. Federal tax form 1040x 00 March $3,250. Federal tax form 1040x 00 April $3,250. Federal tax form 1040x 00 May $3,250. Federal tax form 1040x 00 June $3,250. Federal tax form 1040x 00 July $3,250. Federal tax form 1040x 00 August $3,250. Federal tax form 1040x 00 September $3,250. Federal tax form 1040x 00 October $3,250. Federal tax form 1040x 00 November $6,450. Federal tax form 1040x 00 December $6,450. Federal tax form 1040x 00 Total for all months $45,400. Federal tax form 1040x 00 Limitation. Federal tax form 1040x Divide the total by 12 $3,783. Federal tax form 1040x 34 Erika would include $2,666. Federal tax form 1040x 67 ($6,450 – $3,783. Federal tax form 1040x 34) in her gross income on her 2014 tax return. Federal tax form 1040x Also, a 10% additional tax applies to this amount. Federal tax form 1040x Additional contribution. Federal tax form 1040x   If you are an eligible individual who is age 55 or older at the end of your tax year, your contribution limit is increased by $1,000. Federal tax form 1040x For example, if you have self-only coverage, you can contribute up to $4,250 (the contribution limit for self-only coverage ($3,250) plus the additional contribution of $1,000). Federal tax form 1040x However, see Enrolled in Medicare , later. Federal tax form 1040x If you have more than one HSA in 2013, your total contributions to all the HSAs cannot be more than the limits discussed earlier. Federal tax form 1040x Reduction of contribution limit. Federal tax form 1040x   You must reduce the amount that can be contributed (including any additional contribution) to your HSA by the amount of any contribution made to your Archer MSA (including employer contributions) for the year. Federal tax form 1040x A special rule applies to married people, discussed next, if each spouse has family coverage under an HDHP. Federal tax form 1040x Rules for married people. Federal tax form 1040x   If either spouse has family HDHP coverage, both spouses are treated as having family HDHP coverage. Federal tax form 1040x If each spouse has family coverage under a separate plan, the contribution limit for 2013 is $6,450. Federal tax form 1040x You must reduce the limit on contributions, before taking into account any additional contributions, by the amount contributed to both spouses' Archer MSAs. Federal tax form 1040x After that reduction, the contribution limit is split equally between the spouses unless you agree on a different division. Federal tax form 1040x The rules for married people apply only if both spouses are eligible individuals. Federal tax form 1040x If both spouses are 55 or older and not enrolled in Medicare, each spouse's contribution limit is increased by the additional contribution. Federal tax form 1040x If both spouses meet the age requirement, the total contributions under family coverage cannot be more than $8,450. Federal tax form 1040x Each spouse must make the additional contribution to his or her own HSA. Federal tax form 1040x Example. Federal tax form 1040x For 2013, Mr. Federal tax form 1040x Auburn and his wife are both eligible individuals. Federal tax form 1040x They each have family coverage under separate HDHPs. Federal tax form 1040x Mr. Federal tax form 1040x Auburn is 58 years old and Mrs. Federal tax form 1040x Auburn is 53. Federal tax form 1040x Mr. Federal tax form 1040x and Mrs. Federal tax form 1040x Auburn can split the family contribution limit ($6,450) equally or they can agree on a different division. Federal tax form 1040x If they split it equally, Mr. Federal tax form 1040x Auburn can contribute $4,225 to an HSA (one-half the maximum contribution for family coverage ($3,225) + $1,000 additional contribution) and Mrs. Federal tax form 1040x Auburn can contribute $3,225 to an HSA. Federal tax form 1040x Employer contributions. Federal tax form 1040x   You must reduce the amount you, or any other person, can contribute to your HSA by the amount of any contributions made by your employer that are excludable from your income. Federal tax form 1040x This includes amounts contributed to your account by your employer through a cafeteria plan. Federal tax form 1040x Enrolled in Medicare. Federal tax form 1040x   Beginning with the first month you are enrolled in Medicare, your contribution limit is zero. Federal tax form 1040x Example. Federal tax form 1040x You turned age 65 in July 2013 and enrolled in Medicare. Federal tax form 1040x You had an HDHP with self-only coverage and are eligible for an additional contribution of $1,000. Federal tax form 1040x Your contribution limit is $2,125 ($4,250 × 6 ÷ 12). Federal tax form 1040x Qualified HSA funding distribution. Federal tax form 1040x   A qualified HSA funding distribution may be made from your traditional IRA or Roth IRA to your HSA. Federal tax form 1040x This distribution cannot be made from an ongoing SEP IRA or SIMPLE IRA. Federal tax form 1040x For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an employer contribution is made for the plan year ending with or within your tax year in which the distribution would be made. Federal tax form 1040x   The maximum qualified HSA funding distribution depends on the HDHP coverage (self-only or family) you have on the first day of the month in which the contribution is made and your age as of the end of the tax year. Federal tax form 1040x The distribution must be made directly by the trustee of the IRA to the trustee of the HSA. Federal tax form 1040x The distribution is not included in your income, is not deductible, and reduces the amount that can be contributed to your HSA. Federal tax form 1040x The qualified HSA funding distribution is shown on Form 8889 for the year in which the distribution is made. Federal tax form 1040x   You can make only one qualified HSA funding distribution during your lifetime. Federal tax form 1040x However, if you make a distribution during a month when you have self-only HDHP coverage, you can make another qualified HSA funding distribution in a later month in that tax year if you change to family HDHP coverage. Federal tax form 1040x The total qualified HSA funding distribution cannot be more than the contribution limit for family HDHP coverage plus any additional contribution to which you are entitled. Federal tax form 1040x Example. Federal tax form 1040x In 2013, you are an eligible individual, age 57, with self-only HDHP coverage. Federal tax form 1040x You can make a qualified HSA funding distribution of $4,250 ($3,250 plus $1,000 additional contribution). Federal tax form 1040x Funding distribution – testing period. Federal tax form 1040x   You must remain an eligible individual during the testing period. Federal tax form 1040x For a qualified HSA funding distribution, the testing period begins with the month in which the qualified HSA funding distribution is contributed and ends on the last day of the 12th month following that month. Federal tax form 1040x For example, if a qualified HSA funding distribution is contributed to your HSA on August 10, 2013, your testing period begins in August 2013, and ends on August 31, 2014. Federal tax form 1040x   If you fail to remain an eligible individual during the testing period, other than because of death or becoming disabled, you will have to include in income the qualified HSA funding distribution. Federal tax form 1040x You include this amount in income in the year in which you fail to be an eligible individual. Federal tax form 1040x This amount is also subject to a 10% additional tax. Federal tax form 1040x The income and the additional tax are shown on Form 8889, Part III. Federal tax form 1040x   Each qualified HSA funding distribution allowed has its own testing period. Federal tax form 1040x For example, you are an eligible individual, age 45, with self-only HDHP coverage. Federal tax form 1040x On June 18, 2013, you make a qualified HSA funding distribution of $3,250. Federal tax form 1040x On July 27, 2013, you enroll in family HDHP coverage and on August 17, 2013, you make a qualified HSA funding distribution of $3,200. Federal tax form 1040x Your testing period for the first distribution begins in June 2013 and ends on June 30, 2014. Federal tax form 1040x Your testing period for the second distribution begins in August 2013 and ends on August 31, 2014. Federal tax form 1040x   The testing period rule that applies under the last-month rule (discussed earlier) does not apply to amounts contributed to an HSA through a qualified HSA funding distribution. Federal tax form 1040x If you remain an eligible individual during the entire funding distribution testing period, then no amount of that distribution is included in income and will not be subject to the additional tax for failing to meet the last-month rule testing period. Federal tax form 1040x Rollovers A rollover contribution is not included in your income, is not deductible, and does not reduce your contribution limit. Federal tax form 1040x Archer MSAs and other HSAs. Federal tax form 1040x   You can roll over amounts from Archer MSAs and other HSAs into an HSA. Federal tax form 1040x You do not have to be an eligible individual to make a rollover contribution from your existing HSA to a new HSA. Federal tax form 1040x Rollover contributions do not need to be in cash. Federal tax form 1040x Rollovers are not subject to the annual contribution limits. Federal tax form 1040x   You must roll over the amount within 60 days after the date of receipt. Federal tax form 1040x You can make only one rollover contribution to an HSA during a 1-year period. Federal tax form 1040x Note. Federal tax form 1040x If you instruct the trustee of your HSA to transfer funds directly to the trustee of another of your HSAs, the transfer is not considered a rollover. Federal tax form 1040x There is no limit on the number of these transfers. Federal tax form 1040x Do not include the amount transferred in income, deduct it as a contribution, or include it as a distribution on Form 8889. Federal tax form 1040x When To Contribute You can make contributions to your HSA for 2013 until April 15, 2014. Federal tax form 1040x If you fail to be an eligible individual during 2013, you can still make contributions, up until April 15, 2014, for the months you were an eligible individual. Federal tax form 1040x Your employer can make contributions to your HSA between January 1, 2014, and April 15, 2014, that are allocated to 2013. Federal tax form 1040x Your employer must notify you and the trustee of your HSA that the contribution is for 2013. Federal tax form 1040x The contribution will be reported on your 2014 Form W-2. Federal tax form 1040x Reporting Contributions on Your Return Contributions made by your employer are not included in your income. Federal tax form 1040x Contributions to an employee's account by an employer using the amount of an employee's salary reduction through a cafeteria plan are treated as employer contributions. Federal tax form 1040x Generally, you can claim contributions you made and contributions made by any other person, other than your employer, on your behalf, as an adjustment to income. Federal tax form 1040x Contributions by a partnership to a bona fide partner's HSA are not contributions by an employer. Federal tax form 1040x The contributions are treated as a distribution of money and are not included in the partner's gross income. Federal tax form 1040x Contributions by a partnership to a partner's HSA for services rendered are treated as guaranteed payments that are deductible by the partnership and includible in the partner's gross income. Federal tax form 1040x In both situations, the partner can deduct the contribution made to the partner's HSA. Federal tax form 1040x Contributions by an S corporation to a 2% shareholder-employee's HSA for services rendered are treated as guaranteed payments and are deductible by the S corporation and includible in the shareholder-employee's gross income. Federal tax form 1040x The shareholder-employee can deduct the contribution made to the shareholder-employee's HSA. Federal tax form 1040x Form 8889. Federal tax form 1040x   Report all contributions to your HSA on Form 8889 and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x You should include all contributions made for 2013, including those made by April 15, 2014, that are designated for 2013. Federal tax form 1040x Contributions made by your employer and qualified HSA funding distributions are also shown on the form. Federal tax form 1040x   You should receive Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, from the trustee showing the amount contributed to your HSA during the year. Federal tax form 1040x Your employer's contributions also will be shown in box 12 of Form W-2, Wage and Tax Statement, with code W. Federal tax form 1040x Follow the instructions for Form 8889. Federal tax form 1040x Report your HSA deduction on Form 1040 or Form 1040NR. Federal tax form 1040x Excess contributions. Federal tax form 1040x   You will have excess contributions if the contributions to your HSA for the year are greater than the limits discussed earlier. Federal tax form 1040x Excess contributions are not deductible. Federal tax form 1040x Excess contributions made by your employer are included in your gross income. Federal tax form 1040x If the excess contribution is not included in box 1 of Form W-2, you must report the excess as “Other income” on your tax return. Federal tax form 1040x   Generally, you must pay a 6% excise tax on excess contributions. Federal tax form 1040x See Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. Federal tax form 1040x The excise tax applies to each tax year the excess contribution remains in the account. Federal tax form 1040x   You may withdraw some or all of the excess contributions and not pay the excise tax on the amount withdrawn if you meet the following conditions. Federal tax form 1040x You withdraw the excess contributions by the due date, including extensions, of your tax return for the year the contributions were made. Federal tax form 1040x You withdraw any income earned on the withdrawn contributions and include the earnings in “Other income” on your tax return for the year you withdraw the contributions and earnings. Federal tax form 1040x If you fail to remain an eligible individual during any of the testing periods, discussed earlier, the amount you have to include in income is not an excess contribution. Federal tax form 1040x If you withdraw any of those amounts, the amount is treated the same as any other distribution from an HSA, discussed later. Federal tax form 1040x Deducting an excess contribution in a later year. Federal tax form 1040x   You may be able to deduct excess contributions for previous years that are still in your HSA. Federal tax form 1040x The excess contribution you can deduct for the current year is the lesser of the following two amounts. Federal tax form 1040x Your maximum HSA contribution limit for the year minus any amounts contributed to your HSA for the year. Federal tax form 1040x The total excess contributions in your HSA at the beginning of the year. Federal tax form 1040x   Amounts contributed for the year include contributions by you, your employer, and any other person. Federal tax form 1040x They also include any qualified HSA funding distribution made to your HSA. Federal tax form 1040x Any excess contribution remaining at the end of a tax year is subject to the excise tax. Federal tax form 1040x See Form 5329. Federal tax form 1040x Distributions From an HSA You will generally pay medical expenses during the year without being reimbursed by your HDHP until you reach the annual deductible for the plan. Federal tax form 1040x When you pay medical expenses during the year that are not reimbursed by your HDHP, you can ask the trustee of your HSA to send you a distribution from your HSA. Federal tax form 1040x You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. Federal tax form 1040x If you receive distributions for other reasons, the amount you withdraw will be subject to income tax and may be subject to an additional 20% tax. Federal tax form 1040x You do not have to make distributions from your HSA each year. Federal tax form 1040x If you are no longer an eligible individual, you can still receive tax-free distributions to pay or reimburse your qualified medical expenses. Federal tax form 1040x Generally, a distribution is money you get from your health savings account. Federal tax form 1040x Your total distributions include amounts paid with a debit card that restricts payments to health care and amounts withdrawn from the HSA by other individuals that you have designated. Federal tax form 1040x The trustee will report any distribution to you and the IRS on Form 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA. Federal tax form 1040x Qualified medical expenses. Federal tax form 1040x   Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. Federal tax form 1040x These are explained in Publication 502, Medical and Dental Expenses. Federal tax form 1040x   Also, non-prescription medicines (other than insulin) are not considered qualified medical expenses for HSA purposes. Federal tax form 1040x A medicine or drug will be a qualified medical expense for HSA purposes only if the medicine or drug: Requires a prescription, Is available without a prescription (an over-the-counter medicine or drug) and you get a prescription for it, or Is insulin. Federal tax form 1040x   For HSA purposes, expenses incurred before you establish your HSA are not qualified medical expenses. Federal tax form 1040x State law determines when an HSA is established. Federal tax form 1040x An HSA that is funded by amounts rolled over from an Archer MSA or another HSA is established on the date the prior account was established. Federal tax form 1040x   If, under the last-month rule, you are considered to be an eligible individual for the entire year for determining the contribution amount, only those expenses incurred after you actually establish your HSA are qualified medical expenses. Federal tax form 1040x   Qualified medical expenses are those incurred by the following persons. Federal tax form 1040x You and your spouse. Federal tax form 1040x All dependents you claim on your tax return. Federal tax form 1040x Any person you could have claimed as a dependent on your return except that: The person filed a joint return, The person had gross income of $3,900 or more, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Federal tax form 1040x    For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. Federal tax form 1040x You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your HSA. Federal tax form 1040x Insurance premiums. Federal tax form 1040x   You cannot treat insurance premiums as qualified medical expenses unless the premiums are for: Long-term care insurance. Federal tax form 1040x Health care continuation coverage (such as coverage under COBRA). Federal tax form 1040x Health care coverage while receiving unemployment compensation under federal or state law. Federal tax form 1040x Medicare and other health care coverage if you were 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap). Federal tax form 1040x   The premiums for long-term care insurance (item (1)) that you can treat as qualified medical expenses are subject to limits based on age and are adjusted annually. Federal tax form 1040x See Limit on long-term care premiums you can deduct in the instructions for Schedule A (Form 1040). Federal tax form 1040x   Items (2) and (3) can be for your spouse or a dependent meeting the requirement for that type of coverage. Federal tax form 1040x For item (4), if you, the account beneficiary, are not 65 or older, Medicare premiums for coverage of your spouse or a dependent (who is 65 or older) generally are not qualified medical expenses. Federal tax form 1040x Health coverage tax credit. Federal tax form 1040x   You cannot claim this credit for premiums that you pay with a tax-free distribution from your HSA. Federal tax form 1040x See Publication 502 for more information on this credit. Federal tax form 1040x Deemed distributions from HSAs. Federal tax form 1040x   The following situations result in deemed taxable distributions from your HSA. Federal tax form 1040x You engaged in any transaction prohibited by section 4975 with respect to any of your HSAs, at any time in 2013. Federal tax form 1040x Your account ceases to be an HSA as of January 1, 2013, and you must include the fair market value of all assets in the account as of January 1, 2013, on Form 8889. Federal tax form 1040x You used any portion of any of your HSAs as security for a loan at any time in 2013. Federal tax form 1040x You must include the fair market value of the assets used as security for the loan as income on Form 1040 or Form 1040NR. Federal tax form 1040x   Examples of prohibited transactions include the direct or indirect: Sale, exchange, or leasing of property between you and the HSA, Lending of money between you and the HSA, Furnishing goods, services, or facilities between you and the HSA, and Transfer to or use by you, or for your benefit, of any assets of the HSA. Federal tax form 1040x   Any deemed distribution will not be treated as used to pay qualified medical expenses. Federal tax form 1040x These distributions are included in your income and are subject to the additional 20% tax, discussed later. Federal tax form 1040x Recordkeeping. Federal tax form 1040x You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses had not been previously paid or reimbursed from another source, and The medical expenses had not been taken as an itemized deduction in any year. Federal tax form 1040x Do not send these records with your tax return. Federal tax form 1040x Keep them with your tax records. Federal tax form 1040x Reporting Distributions on Your Return How you report your distributions depends on whether or not you use the distribution for qualified medical expenses (defined earlier). Federal tax form 1040x If you use a distribution from your HSA for qualified medical expenses, you do not pay tax on the distribution but you have to report the distribution on Form 8889. Federal tax form 1040x However, the distribution of an excess contribution taken out after the due date, including extensions, of your return is subject to tax even if used for qualified medical expenses. Federal tax form 1040x Follow the instructions for the form and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x If you do not use a distribution from your HSA for qualified medical expenses, you must pay tax on the distribution. Federal tax form 1040x Report the amount on Form 8889 and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x You may have to pay an additional 20% tax on your taxable distribution. Federal tax form 1040x HSA administration and maintenance fees withdrawn by the trustee are not reported as distributions from the HSA. Federal tax form 1040x Additional tax. Federal tax form 1040x   There is an additional 20% tax on the part of your distributions not used for qualified medical expenses. Federal tax form 1040x Figure the tax on Form 8889 and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x Exceptions. Federal tax form 1040x   There is no additional tax on distributions made after the date you are disabled, reach age 65, or die. Federal tax form 1040x Balance in an HSA An HSA is generally exempt from tax. Federal tax form 1040x You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Federal tax form 1040x Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions , earlier). Federal tax form 1040x Earnings on amounts in an HSA are not included in your income while held in the HSA. Federal tax form 1040x Death of HSA Holder You should choose a beneficiary when you set up your HSA. Federal tax form 1040x What happens to that HSA when you die depends on whom you designate as the beneficiary. Federal tax form 1040x Spouse is the designated beneficiary. Federal tax form 1040x   If your spouse is the designated beneficiary of your HSA, it will be treated as your spouse's HSA after your death. Federal tax form 1040x Spouse is not the designated beneficiary. Federal tax form 1040x   If your spouse is not the designated beneficiary of your HSA: The account stops being an HSA, and The fair market value of the HSA becomes taxable to the beneficiary in the year in which you die. Federal tax form 1040x If your estate is the beneficiary, the value is included on your final income tax return. Federal tax form 1040x The amount taxable to a beneficiary other than the estate is reduced by any qualified medical expenses for the decedent that are paid by the beneficiary within 1 year after the date of death. Federal tax form 1040x Filing Form 8889 You must file Form 8889 with your Form 1040 or Form 1040NR if you (or your spouse, if married filing a joint return) had any activity in your HSA during the year. Federal tax form 1040x You must file the form even if only your employer or your spouse's employer made contributions to the HSA. Federal tax form 1040x If, during the tax year, you are the beneficiary of two or more HSAs or you are a beneficiary of an HSA and you have your own HSA, you must complete a separate Form 8889 for each HSA. Federal tax form 1040x Enter “statement” at the top of each Form 8889 and complete the form as instructed. Federal tax form 1040x Next, complete a controlling Form 8889 combining the amounts shown on each of the statement Forms 8889. Federal tax form 1040x Attach the statements to your tax return after the controlling Form 8889. Federal tax form 1040x Employer Participation This section contains the rules that employers must follow if they decide to make HSAs available to their employees. Federal tax form 1040x Unlike the previous discussions, “you” refers to the employer and not to the employee. Federal tax form 1040x Health plan. Federal tax form 1040x   If you want your employees to be able to have an HSA, they must have an HDHP. Federal tax form 1040x You can provide no additional coverage other than those exceptions listed previously under Other health coverage . Federal tax form 1040x Contributions. Federal tax form 1040x   You can make contributions to your employees' HSAs. Federal tax form 1040x You deduct the contributions on your business income tax return for the year in which you make the contributions. Federal tax form 1040x If the contribution is allocated to the prior year, you still deduct it in the year in which you made the contribution. Federal tax form 1040x   For more information on employer contributions, see Notice 2008-59, 2008-29 I. Federal tax form 1040x R. Federal tax form 1040x B. Federal tax form 1040x 123, questions 23 through 27, available at www. Federal tax form 1040x irs. Federal tax form 1040x gov/irb/2008-29_IRB/ar11. Federal tax form 1040x html. Federal tax form 1040x Comparable contributions. Federal tax form 1040x   If you decide to make contributions, you must make comparable contributions to all comparable participating employees' HSAs. Federal tax form 1040x Your contributions are comparable if they are either: The same amount, or The same percentage of the annual deductible limit under the HDHP covering the employees. Federal tax form 1040x The comparability rules do not apply to contributions made through a cafeteria plan. Federal tax form 1040x Comparable participating employees. Federal tax form 1040x   Comparable participating employees: Are covered by your HDHP and are eligible to establish an HSA, Have the same category of coverage (either self-only or family coverage), and Have the same category of employment (part-time, full-time, or former employees). Federal tax form 1040x   To meet the comparability requirements for eligible employees who have not established an HSA by December 31 or have not notified you that they have an HSA, you must meet a notice requirement and a contribution requirement. Federal tax form 1040x   You will meet the notice requirement if by January 15 of the following calendar year you provide a written notice to all such employees. Federal tax form 1040x The notice must state that each eligible employee who, by the last day of February, establishes an HSA and notifies you that they have established an HSA will receive a comparable contribution to the HSA for the prior year. Federal tax form 1040x For a sample of the notice, see Regulation 54. Federal tax form 1040x 4980G-4 A-14(c). Federal tax form 1040x You will meet the contribution requirement for these employees if by April 15, 2014, you contribute comparable amounts plus reasonable interest to the employee's HSA for the prior year. Federal tax form 1040x Note. Federal tax form 1040x For purposes of making contributions to HSAs of non-highly compensated employees, highly compensated employees shall not be treated as comparable participating employees. Federal tax form 1040x Excise tax. Federal tax form 1040x   If you made contributions to your employees' HSAs that were not comparable, you must pay an excise tax of 35% of the amount you contributed. Federal tax form 1040x Employment taxes. Federal tax form 1040x   Amounts you contribute to your employees' HSAs are generally not subject to employment taxes. Federal tax form 1040x You must report the contributions in box 12 of the Form W-2 you file for each employee. Federal tax form 1040x This includes the amounts the employee elected to contribute through a cafeteria plan. Federal tax form 1040x Enter code “W” in box 12. Federal tax form 1040x Medical Savings Accounts (MSAs) Archer MSAs were created to help self-employed individuals and employees of certain small employers meet the medical care costs of the account holder, the account holder's spouse, or the account holder's dependent(s). Federal tax form 1040x After December 31, 2007, you cannot be treated as an eligible individual for Archer MSA purposes unless: You were an active participant for any tax year ending before January 1, 2008, or You became an active participant for a tax year ending after December 31, 2007, by reason of coverage under a high deductible health plan (HDHP) of an Archer MSA participating employer. Federal tax form 1040x A Medicare Advantage MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder who is eligible for Medicare. Federal tax form 1040x Archer MSAs An Archer MSA is a tax-exempt trust or custodial account that you set up with a U. Federal tax form 1040x S. Federal tax form 1040x financial institution (such as a bank or an insurance company) in which you can save money exclusively for future medical expenses. Federal tax form 1040x What are the benefits of an Archer MSA?   You may enjoy several benefits from having an Archer MSA. Federal tax form 1040x You can claim a tax deduction for contributions you make even if you do not itemize your deductions on Form 1040 or Form 1040NR. Federal tax form 1040x The interest or other earnings on the assets in your Archer MSA are tax free. Federal tax form 1040x Distributions may be tax free if you pay qualified medical expenses. Federal tax form 1040x See Qualified medical expenses , later. Federal tax form 1040x The contributions remain in your Archer MSA from year to year until you use them. Federal tax form 1040x An Archer MSA is “portable” so it stays with you if you change employers or leave the work force. Federal tax form 1040x Qualifying for an Archer MSA To qualify for an Archer MSA, you must be either of the following. Federal tax form 1040x An employee (or the spouse of an employee) of a small employer (defined later) that maintains a self-only or family HDHP for you (or your spouse). Federal tax form 1040x A self-employed person (or the spouse of a self-employed person) who maintains a self-only or family HDHP. Federal tax form 1040x You can have no other health or Medicare coverage except what is permitted under Other health coverage , later. Federal tax form 1040x You must be an eligible individual on the first day of a given month to get an Archer MSA deduction for that month. Federal tax form 1040x If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an Archer MSA contribution. Federal tax form 1040x This is true even if the other person does not actually claim your exemption. Federal tax form 1040x Small employer. Federal tax form 1040x   A small employer is generally an employer who had an average of 50 or fewer employees during either of the last 2 calendar years. Federal tax form 1040x The definition of small employer is modified for new employers and growing employers. Federal tax form 1040x Growing employer. Federal tax form 1040x   A small employer may begin HDHPs and Archer MSAs for his or her employees and then grow beyond 50 employees. Federal tax form 1040x The employer will continue to meet the requirement for small employers if he or she: Had 50 or fewer employees when the Archer MSAs began, Made a contribution that was excludable or deductible as an Archer MSA for the last year he or she had 50 or fewer employees, and Had an average of 200 or fewer employees each year after 1996. Federal tax form 1040x Changing employers. Federal tax form 1040x   If you change employers, your Archer MSA moves with you. Federal tax form 1040x However, you may not make additional contributions unless you are otherwise eligible. Federal tax form 1040x High deductible health plan (HDHP). Federal tax form 1040x   To be eligible for an Archer MSA, you must be covered under an HDHP. Federal tax form 1040x An HDHP has: A higher annual deductible than typical health plans, and A maximum limit on the annual out-of-pocket medical expenses that you must pay for covered expenses. Federal tax form 1040x Limits. Federal tax form 1040x   The following table shows the limits for annual deductibles and the maximum out-of-pocket expenses for HDHPs for 2013. Federal tax form 1040x   Self-only coverage Family coverage Minimum annual deductible $2,150 $4,300 Maximum annual deductible $3,200 $6,450 Maximum annual out-of-pocket expenses $4,300 $7,850 Family plans that do not meet the high deductible rules. Federal tax form 1040x   There are some family plans that have deductibles for both the family as a whole and for individual family members. Federal tax form 1040x Under these plans, if you meet the individual deductible for one family member, you do not have to meet the higher annual deductible amount for the family. Federal tax form 1040x If either the deductible for the family as a whole or the deductible for an individual family member is less than the minimum annual deductible for family coverage, the plan does not qualify as an HDHP. Federal tax form 1040x Example. Federal tax form 1040x You have family health insurance coverage in 2013. Federal tax form 1040x The annual deductible for the family plan is $5,500. Federal tax form 1040x This plan also has an individual deductible of $2,000 for each family member. Federal tax form 1040x The plan does not qualify as an HDHP because the deductible for an individual family member is less than the minimum annual deductible ($4,300) for family coverage. Federal tax form 1040x Other health coverage. Federal tax form 1040x   You (and your spouse, if you have family coverage) generally cannot have any other health coverage that is not an HDHP. Federal tax form 1040x However, you can still be an eligible individual even if your spouse has non-HDHP coverage provided you are not covered by that plan. Federal tax form 1040x However, you can have additional insurance that provides benefits only for the following items. Federal tax form 1040x Liabilities incurred under workers' compensation laws, torts, or ownership or use of property. Federal tax form 1040x A specific disease or illness. Federal tax form 1040x A fixed amount per day (or other period) of hospitalization. Federal tax form 1040x You can also have coverage (whether provided through insurance or otherwise) for the following items. Federal tax form 1040x Accidents. Federal tax form 1040x Disability. Federal tax form 1040x Dental care. Federal tax form 1040x Vision care. Federal tax form 1040x Long-term care. Federal tax form 1040x Contributions to an MSA Contributions to an Archer MSA must be made in cash. Federal tax form 1040x You cannot contribute stock or other property to an Archer MSA. Federal tax form 1040x Who can contribute to my Archer MSA?   If you are an employee, your employer may make contributions to your Archer MSA. Federal tax form 1040x (You do not pay tax on these contributions. Federal tax form 1040x ) If your employer does not make contributions to your Archer MSA, or you are self-employed, you can make your own contributions to your Archer MSA. Federal tax form 1040x Both you and your employer cannot make contributions to your Archer MSA in the same year. Federal tax form 1040x You do not have to make contributions to your Archer MSA every year. Federal tax form 1040x    If your spouse is covered by your HDHP and an excludable amount is contributed by your spouse's employer to an Archer MSA belonging to your spouse, you cannot make contributions to your own Archer MSA that year. Federal tax form 1040x Limits There are two limits on the amount you or your employer can contribute to your Archer MSA: The annual deductible limit. Federal tax form 1040x An income limit. Federal tax form 1040x Annual deductible limit. Federal tax form 1040x   You (or your employer) can contribute up to 75% of the annual deductible of your HDHP (65% if you have a self-only plan) to your Archer MSA. Federal tax form 1040x You must have the HDHP all year to contribute the full amount. Federal tax form 1040x If you do not qualify to contribute the full amount for the year, determine your annual deductible limit by using the worksheet in the Instructions for Form 8853, Archer MSAs and Long-Term Care Insurance Contracts. Federal tax form 1040x Example 1. Federal tax form 1040x You have an HDHP for your family all year in 2013. Federal tax form 1040x The annual deductible is $5,000. Federal tax form 1040x You can contribute up to $3,750 ($5,000 × 75%) to your Archer MSA for the year. Federal tax form 1040x Example 2. Federal tax form 1040x You have an HDHP for your family for the entire months of July through December 2013 (6 months). Federal tax form 1040x The annual deductible is $5,000. Federal tax form 1040x You can contribute up to $1,875 ($5,000 × 75% ÷ 12 × 6) to your Archer MSA for the year. Federal tax form 1040x If you and your spouse each have a family plan, you are treated as having family coverage with the lower annual deductible of the two health plans. Federal tax form 1040x The contribution limit is split equally between you unless you agree on a different division. Federal tax form 1040x Income limit. Federal tax form 1040x   You cannot contribute more than you earned for the year from the employer through whom you have your HDHP. Federal tax form 1040x   If you are self-employed, you cannot contribute more than your net self-employment income. Federal tax form 1040x This is your income from self-employment minus expenses (including the deductible part of self-employment tax). Federal tax form 1040x Example 1. Federal tax form 1040x Noah Paul earned $25,000 from ABC Company in 2013. Federal tax form 1040x Through ABC, he had an HDHP for his family for the entire year. Federal tax form 1040x The annual deductible was $5,000. Federal tax form 1040x He can contribute up to $3,750 to his Archer MSA (75% × $5,000). Federal tax form 1040x He can contribute the full amount because he earned more than $3,750 at ABC. Federal tax form 1040x Example 2. Federal tax form 1040x Westley Lawrence is self-employed. Federal tax form 1040x He had an HDHP for his family for the entire year in 2013. Federal tax form 1040x The annual deductible was $5,000. Federal tax form 1040x Based on the annual deductible, the maximum contribution to his Archer MSA would have been $3,750 (75% × $5,000). Federal tax form 1040x However, after deducting his business expenses, Joe's net self-employment income is $2,500 for the year. Federal tax form 1040x Therefore, he is limited to a contribution of $2,500. Federal tax form 1040x Individuals enrolled in Medicare. Federal tax form 1040x   Beginning with the first month you are enrolled in Medicare, you cannot contribute to an Archer MSA. Federal tax form 1040x However, you may be eligible for a Medicare Advantage MSA, discussed later. Federal tax form 1040x When To Contribute You can make contributions to your Archer MSA for 2013 until April 15, 2014. Federal tax form 1040x Reporting Contributions on Your Return Report all contributions to your Archer MSA on Form 8853 and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x You should include all contributions you, or your employer, made for 2013, including those made by April 15, 2014, that are designated for 2013. Federal tax form 1040x You should receive Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, from the trustee showing the amount you (or your employer) contributed during the year. Federal tax form 1040x Your employer's contributions should be shown in box 12 of Form W-2, Wage and Tax Statement, with code R. Federal tax form 1040x Follow the instructions for Form 8853 and complete the worksheet in the instructions. Federal tax form 1040x Report your Archer MSA deduction on Form 1040 or Form 1040NR. Federal tax form 1040x Excess contributions. Federal tax form 1040x   You will have excess contributions if the contributions to your Archer MSA for the year are greater than the limits discussed earlier. Federal tax form 1040x Excess contributions are not deductible. Federal tax form 1040x Excess contributions made by your employer are included in your gross income. Federal tax form 1040x If the excess contribution is not included in box 1 of Form W-2, you must report the excess as “Other income” on your tax return. Federal tax form 1040x   Generally, you must pay a 6% excise tax on excess contributions. Federal tax form 1040x See Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. Federal tax form 1040x The excise tax applies to each tax year the excess contribution remains in the account. Federal tax form 1040x   You may withdraw some or all of the excess contributions and not pay the excise tax on the amount withdrawn if you meet the following conditions. Federal tax form 1040x You withdraw the excess contributions by the due date, including extensions, of your tax return. Federal tax form 1040x You withdraw any income earned on the withdrawn contributions and include the earnings in “Other income” on your tax return for the year you withdraw the contributions and earnings. Federal tax form 1040x Deducting an excess contribution in a later year. Federal tax form 1040x   You may be able to deduct excess contributions for previous years that are still in your Archer MSA. Federal tax form 1040x The excess contribution you can deduct in the current year is the lesser of the following two amounts. Federal tax form 1040x Your maximum Archer MSA contribution limit for the year minus any amounts contributed to your Archer MSA for the year. Federal tax form 1040x The total excess contributions in your Archer MSA at the beginning of the year. Federal tax form 1040x   Any excess contributions remaining at the end of a tax year are subject to the excise tax. Federal tax form 1040x See Form 5329. Federal tax form 1040x Distributions From an MSA You will generally pay medical expenses during the year without being reimbursed by your HDHP until you reach the annual deductible for the plan. Federal tax form 1040x When you pay medical expenses during the year that are not reimbursed by your HDHP, you can ask the trustee of your Archer MSA to send you a distribution from your Archer MSA. Federal tax form 1040x You can receive tax-free distributions from your Archer MSA to pay for qualified medical expenses (discussed later). Federal tax form 1040x If you receive distributions for other reasons, the amount will be subject to income tax and may be subject to an additional 20% tax as well. Federal tax form 1040x You do not have to make withdrawals from your Archer MSA each year. Federal tax form 1040x If you no longer qualify to make contributions, you can still receive tax-free distributions to pay or reimburse your qualified medical expenses. Federal tax form 1040x A distribution is money you get from your Archer MSA. Federal tax form 1040x The trustee will report any distribution to you and the IRS on Form 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA. Federal tax form 1040x Qualified medical expenses. Federal tax form 1040x   Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. Federal tax form 1040x These are explained in Publication 502. Federal tax form 1040x   Also, non-prescription medicines (other than insulin) are not considered qualified medical expenses for MSA purposes. Federal tax form 1040x A medicine or drug will be a qualified medical expense for MSA purposes only if the medicine or drug: Requires a prescription, Is available without a prescription (an over-the-counter medicine or drug) and you get a prescription for it, or Is insulin. Federal tax form 1040x   Qualified medical expenses are those incurred by the following persons. Federal tax form 1040x You and your spouse. Federal tax form 1040x All dependents you claim on your tax return. Federal tax form 1040x Any person you could have claimed as a dependent on your return except that: The person filed a joint return, The person had gross income of $3,900 or more, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Federal tax form 1040x    For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. Federal tax form 1040x    You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your Archer MSA. Federal tax form 1040x Special rules for insurance premiums. Federal tax form 1040x   Generally, you cannot treat insurance premiums as qualified medical expenses for Archer MSAs. Federal tax form 1040x You can, however, treat premiums for long-term care coverage, health care coverage while you receive unemployment benefits, or health care continuation coverage required under any federal law as qualified medical expenses for Archer MSAs. Federal tax form 1040x Health coverage tax credit. Federal tax form 1040x   You cannot claim this credit for premiums that you pay with a tax-free distribution from your Archer MSA. Federal tax form 1040x See Publication 502 for information on this credit. Federal tax form 1040x Deemed distributions from Archer MSAs. Federal tax form 1040x   The following situations result in deemed taxable distributions from your Archer MSA. Federal tax form 1040x You engaged in any transaction prohibited by section 4975 with respect to any of your Archer MSAs at any time in 2013. Federal tax form 1040x Your account ceases to be an Archer MSA as of January 1, 2013, and you must include the fair market value of all assets in the account as of January 1, 2013, on Form 8853. Federal tax form 1040x You used any portion of any of your Archer MSAs as security for a loan at any time in 2013. Federal tax form 1040x You must include the fair market value of the assets used as security for the loan as income on Form 1040 or Form 1040NR. Federal tax form 1040x   Examples of prohibited transactions include the direct or indirect: Sale, exchange, or leasing of property between you and the Archer MSA, Lending of money between you and the Archer MSA, Furnishing goods, services, or facilities between you and the Archer MSA, and Transfer to or use by you, or for your benefit, of any assets of the Archer MSA. Federal tax form 1040x   Any deemed distribution will not be treated as used to pay qualified medical expenses. Federal tax form 1040x These distributions are included in your income and are subject to the additional 20% tax, discussed later. Federal tax form 1040x Recordkeeping. Federal tax form 1040x You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses had not been previously paid or reimbursed from another source, and The medical expenses had not been taken as an itemized deduction in any year. Federal tax form 1040x Do not send these records with your tax return. Federal tax form 1040x Keep them with your tax records. Federal tax form 1040x Reporting Distributions on Your Return How you report your distributions depends on whether or not you use the distribution for qualified medical expenses (defined earlier). Federal tax form 1040x If you use a distribution from your Archer MSA for qualified medical expenses, you do not pay tax on the distribution but you have to report the distribution on Form 8853. Federal tax form 1040x Follow the instructions for the form and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x If you do not use a distribution from your Archer MSA for qualified medical expenses, you must pay tax on the distribution. Federal tax form 1040x Report the amount on Form 8853 and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x You may have to pay an additional 20% tax, discussed later, on your taxable distribution. Federal tax form 1040x If an amount (other than a rollover) is contributed to your Archer MSA this year (by you or your employer), you also must report and pay tax on a distribution you receive from your Archer MSA this year that is used to pay medical expenses of someone who is not covered by an HDHP, or is also covered by another health plan that is not an HDHP, at the time the expenses are incurred. Federal tax form 1040x Rollovers. Federal tax form 1040x   Generally, any distribution from an Archer MSA that you roll over into another Archer MSA or an HSA is not taxable if you complete the rollover within 60 days. Federal tax form 1040x An Archer MSA and an HSA can only receive one rollover contribution during a 1-year period. Federal tax form 1040x See the Form 8853 instructions for more information. Federal tax form 1040x Additional tax. Federal tax form 1040x   There is a 20% additional tax on the part of your distributions not used for qualified medical expenses. Federal tax form 1040x Figure the tax on Form 8853 and file it with your Form 1040 or Form 1040NR. Federal tax form 1040x Report the additional tax in the total on Form 1040 or Form 1040NR. Federal tax form 1040x Exceptions. Federal tax form 1040x   There is no additional tax on distributions made after the date you are disabled, reach age 65, or die. Federal tax form 1040x Balance in an Archer MSA An Archer MSA is generally exempt from tax. Federal tax form 1040x You are permitted to take a distribution from your Archer MSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Federal tax form 1040x Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions , earlier). Federal tax form 1040x Earnings on amounts in an Archer MSA are not included in your income while held in the Archer MSA. Federal tax form 1040x Death of the Archer MSA Holder You should choose a beneficiary when you set up your Archer MSA. Federal tax form 1040x What happens to that Archer MSA when you die depends on whom you designate as the beneficiary. Federal tax form 1040x Spouse is the designated beneficiary. Federal tax form 1040x   If your spouse is the designated beneficiary of your Archer MSA, it will be treated as your spouse's Archer MSA after your death. Federal tax form 1040x Spouse is not the designated beneficiary. Federal tax form 1040x   If your spouse is not the designated beneficiary of your Archer MSA: The account stops being an Archer MSA, and The fair market value of the Archer MSA becomes taxable to the beneficiary in the year in which you die. Federal tax form 1040x   If your estate is the beneficiary, the fair market value of the Archer MSA will be included on your final income tax return. Federal tax form 1040x The amount taxable to a beneficiary other than the estate is reduced by any qualified medical expenses for the decedent that are paid by the beneficiary within 1 year after the date of death. Federal tax form 1040x Filing Form 8853 You must file Form 8853 with your Form 1040 or Form 1040NR if you (or your spouse, if married filing a joint return) had any activity in your Archer MSA during the year. Federal tax form 1040x You must file the form even if only your employer or your spouse's employer made contributions to the Archer MSA. Federal tax form 1040x If, during the tax year, you are the beneficiary of two or more Archer MSAs or you are a beneficiary of an Archer MSA and you have your own Archer MSA, you must complete a separate Form 8853 for each MSA. Federal tax form 1040x Enter “statement” at the top of each Form 8853 and complete the form as instructed. Federal tax form 1040x Next, complete a controlling Form 8853 combining the amounts shown on each of the statement Forms 8853. Federal tax form 1040x Attach the statements to your tax return after the controlling Form 8853. Federal tax form 1040x Employer Participation This section contains the rules that employers must follow if they decide to make Archer MSAs available to their employees. Federal tax form 1040x Unlike the previous discussions, “you” refers to the employer and not to the employee. Federal tax form 1040x Health plan. Federal tax form 1040x   If you want your employees to be able to have an Archer MSA, you must make an HDHP available to them. Federal tax form 1040x You can provide no additional coverage other than those exceptions listed previously under Other health coverage . Federal tax form 1040x Contributions. Federal tax form 1040x   You can make contributions to your employees' Archer MSAs. Federal tax form 1040x You deduct the contributions on the “Employee benefit programs” line of your business income tax return for the year in which you make the contributions. Federal tax form 1040x If you are filing Form 1040, Schedule C, this is Part II, line 14. Federal tax form 1040x Comparable contributions. Federal tax form 1040x   If you decide to make contributions, you must make comparable contributions to all comparable participating employees' Archer MSAs. Federal tax form 1040x Your contributions are comparable if they are either: The same amount, or The same percentage of the annual deductible limit under the HDHP covering the employees. Federal tax form 1040x Comparable participating employees. Federal tax form 1040x   Comparable participating employees: Are covered by your HDHP and are eligible to establish an Archer MSA, Have the same category of coverage (either self-only or family coverage), and Have the same category of employment (either part-time or full-time). Federal tax form 1040x Excise tax. Federal tax form 1040x   If you made contributions to your employees' Archer MSAs that were not comparable, you must pay an excise tax of 35% of the amount you contributed. Federal tax form 1040x Employment taxes. Federal tax form 1040x   Amounts you contribute to your employees' Archer MSAs are generally not subject to employment taxes. Federal tax form 1040x You must report the contributions in box 12 of the Form W-2 you file for each employee. Federal tax form 1040x Enter code “R” in box 12. Federal tax form 1040x Medicare Advantage MSAs A Medicare Advantage MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder. Federal tax form 1040x To be eligible for a Medicare Advantage MSA, you must be enrolled in Medicare and have a high deductible health plan (HDHP) that meets the Medicare guidelines. Federal tax form 1040x A Medicare Advantage MSA is a tax-exempt trust or custodial savings account that you set up with a financial institution (such as a bank or an insurance company) in which the Medicare program can deposit money for qualified medical expenses. Federal tax form 1040x The money in your account is not taxed if it is used for qualified medical expenses, and it may earn interest or dividends. Federal tax form 1040x An HDHP is a special health insurance policy that has a high deductible. Federal tax form 1040x You choose the policy you want to use as part of your Medicare Advantage MSA plan. Federal tax form 1040x However, the policy must be approved by the Medicare program. Federal tax form 1040x Medicare Advantage MSAs are administered through the federal Medicare program. Federal tax form 1040x You can get information by calling 1-800-Medicare (1-800-633-4227) or through the Internet at www. Federal tax form 1040x medicare. Federal tax form 1040x gov. Federal tax form 1040x Note. Federal tax form 1040x You must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your tax return if you have a Medicare Advantage MSA. Federal tax form 1040x Flexible Spending Arrangements (FSAs) A health flexible spending arrangement (FSA) allows employees to be reimbursed for medical expenses. Federal tax form 1040x FSAs are usually funded through voluntary salary reduction agreements with your employer. Federal tax form 1040x No employment or federal income taxes are deducted from your contribution. Federal tax form 1040x The employer may also contribute. Federal tax form 1040x Note. Federal tax form 1040x Unlike HSAs or Archer MSAs which must be reported on Form 1040 or Form 1040NR, there are no reporting requirements for FSAs on your income tax return. Federal tax form 1040x For information on the interaction between a health FSA and an HSA, see Other employee health plans under Qualifying for an HSA, earlier. Federal tax form 1040x What are the benefits of an FSA?   You may enjoy several benefits from having an FSA. Federal tax form 1040x Contributions made by your employer can be excluded from your gross income. Federal tax form 1040x No employment or federal income taxes are deducted from the contributions. Federal tax form 1040x Withdrawals may be tax free if you pay qualified medical expenses. Federal tax form 1040x See Qualified medical expenses , later. Federal tax form 1040x You can withdraw funds from the account to pay qualified medical expenses even if you have not yet placed the funds in the account. Federal tax form 1040x Qualifying for an FSA Health FSAs are employer-established benefit plans. Federal tax form 1040x These may be offered in conjunction with other employer-provided benefits as part of a cafeteria plan. Federal tax form 1040x Employers have complete flexibility to offer various combinations of benefits in designing their plan. Federal tax form 1040x You do not have to be covered under any other health care plan to participate. Federal tax form 1040x Self-employed persons are not eligible for an FSA. Federal tax form 1040x Certain limitations may apply if you are a highly compensated participant or a key employee. Federal tax form 1040x Contributions to an FSA You contribute to your FSA by electing an amount to be voluntarily withheld from your pay by your employer. Federal tax form 1040x This is sometimes called a salary reduction agreement. Federal tax form 1040x The employer may also contribute to your FSA if specified in the plan. Federal tax form 1040x You do not pay federal income tax or employment taxes on the salary you contribute or the amounts your employer contributes to the FSA. Federal tax form 1040x However, contributions made by your employer to provide coverage for long-term care insurance must be included in income. Federal tax form 1040x When To Contribute At the
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Correcting Plan Errors

The Employee Plans Compliance Resolution System (EPCRS)
offers three programs for correcting plan errors:

Find Plan Errors

Fix Plan Errors

Avoid Plan Errors

Revenue Procedure for EPCRS 

Topical index

Chart of significant changes

Additional resources

Page Last Reviewed or Updated: 14-Mar-2014

The Federal Tax Form 1040x

Federal tax form 1040x Index Symbols 401(k) Plan Elective Deferrals, Elective Deferrals (401(k) Plans) Safe harbor, Safe harbor 401(k) plan. Federal tax form 1040x A Annual additions, Annual additions. Federal tax form 1040x Annual benefits, Annual benefits. Federal tax form 1040x Assistance (see Tax help) Automatic Enrollment, Automatic Enrollment B Business, definition, Business. Federal tax form 1040x C Common-law employee, Common-law employee. Federal tax form 1040x Compensation, Compensation. Federal tax form 1040x Contribution Defined, Contribution. Federal tax form 1040x Limits Qualified plans, Limits on Contributions and Benefits SEP-IRAs, Contribution Limits SIMPLE IRA plan, Contribution Limits D Deduction Defined, SIMPLE plans. Federal tax form 1040x , Deduction. Federal tax form 1040x Deduction worksheet for self-employed, Figuring your deduction. Federal tax form 1040x Defined benefit plan Deduction limits, Defined benefit plans. Federal tax form 1040x Limits on contributions, Defined benefit plan. Federal tax form 1040x Defined contribution plan Automatic Enrollment, Automatic Enrollment Deduction limits, Defined contribution plans. Federal tax form 1040x Eligible automatic contribution arrangement, Eligible automatic contribution arrangement. Federal tax form 1040x Forfeitures, Forfeiture. Federal tax form 1040x Limits on contributions, Defined contribution plan. Federal tax form 1040x Money purchase pension plan, Money purchase pension plan. Federal tax form 1040x Profit-sharing plan, Profit-sharing plan. Federal tax form 1040x Qualified automatic contribution arrangement, Qualified automatic contribution arrangement. Federal tax form 1040x Definitions you need to know, Definitions You Need To Know Disqualified person, Prohibited Transactions Distributions (withdrawals), Distributions (Withdrawals) E EACA, Eligible automatic contribution arrangement. Federal tax form 1040x Earned income, Earned income. Federal tax form 1040x Eligible automatic contribution arrangement, Eligible automatic contribution arrangement. Federal tax form 1040x Employees Eligible, Eligible employee. Federal tax form 1040x Excludable, Excludable employees. Federal tax form 1040x Highly compensated, Highly compensated employee. Federal tax form 1040x Leased, Leased employee. Federal tax form 1040x Employer Defined, Employer. Federal tax form 1040x Excess Deferrals, Treatment of Excess Deferrals Excise tax, Excise Tax on Reversion of Plan Assets Nondeductible (excess) contributions, Excise Tax for Nondeductible (Excess) Contributions Reduced benefit accrual, Notification of Significant Benefit Accrual Reduction SEP excess contributions, Excise tax. Federal tax form 1040x Excludable employees, Excludable employees. Federal tax form 1040x F Form 1040, Where To Deduct Contributions, Reporting the tax. Federal tax form 1040x 1099-R, Reporting corrective distributions on Form 1099-R. Federal tax form 1040x 5304–SIMPLE, How To Set Up a SIMPLE IRA Plan 5305–S, Setting up a SIMPLE IRA. Federal tax form 1040x 5305–SA, Setting up a SIMPLE IRA. Federal tax form 1040x 5305–SEP, Formal written agreement. Federal tax form 1040x 5305–SIMPLE, How To Set Up a SIMPLE IRA Plan 5310, Form 5310. Federal tax form 1040x 5329, Reporting the tax. Federal tax form 1040x 5330, Reporting the tax. Federal tax form 1040x , Tax on excess contributions of highly compensated employees. Federal tax form 1040x , Excise Tax on Reversion of Plan Assets, Payment of the 15% tax. Federal tax form 1040x 5500, Form 5500. Federal tax form 1040x , Electronic filing of Forms 5500 and 5500-SF. Federal tax form 1040x 5500-EZ, Form 5500-EZ. Federal tax form 1040x Form W-2, Reporting on Form W-2. Federal tax form 1040x Schedule K (Form 1065), Where To Deduct Contributions Free tax services, Free help with your return. Federal tax form 1040x H Highly compensated employee, Highly compensated employee. Federal tax form 1040x K Keogh plans (see Qualified plans) L Leased employee, Leased employee. Federal tax form 1040x N Net earnings from self-employment, Net earnings from self-employment. Federal tax form 1040x Notification requirements, Notification Requirement P Participant, definition, Participant. Federal tax form 1040x Participation, Participation. Federal tax form 1040x Partner, definition, Partner. Federal tax form 1040x Publications (see Tax help) Q QACA, Qualified automatic contribution arrangement. Federal tax form 1040x Qualified automatic contribution arrangement, Qualified automatic contribution arrangement. Federal tax form 1040x Qualified Plan, definition, Qualified plan. Federal tax form 1040x Qualified plans, Limits on Contributions and Benefits Assignment of benefits, Benefits must not be assigned or alienated. Federal tax form 1040x Benefits starting date, Benefit payment must begin when required. Federal tax form 1040x Contributions, Contributions, Employer Contributions, Limits on Contributions and Benefits, When Contributions Are Considered Made, Where To Deduct Contributions Deduction limits, Deduction Limits, Defined contribution plans. Federal tax form 1040x , Defined benefit plans. Federal tax form 1040x , Deduction Limit for Self-Employed Individuals, Carryover of Excess Contributions, Excise Tax for Nondeductible (Excess) Contributions Deduction Worksheet for Self-Employed, Table and Worksheets for the Self-Employed Deductions, Employer Deduction Deferrals, Treatment of contributions. Federal tax form 1040x , Reporting on Form W-2. Federal tax form 1040x Defined benefit plan, Defined Benefit Plan Defined contribution plan, Defined Contribution Plan Distributions, Distributions Minimum, Required Distributions Required beginning date, Required beginning date. Federal tax form 1040x Rollover, Rollover. Federal tax form 1040x Tax on excess benefits, Tax on Excess Benefits Tax on premature, Tax on Early Distributions Tax treatment, Tax Treatment of Distributions Elective Deferrals, Elective Deferrals (401(k) Plans) Limits, Limit on Elective Deferrals Employee nondeductible contributions, Employee Contributions Excess Deferrals, Treatment of Excess Deferrals Investing plan assets, Investing Plan Assets Kinds of plans, Kinds of Plans Leased employees, Leased employee. Federal tax form 1040x Minimum requirements Coverage, Minimum coverage requirement must be met. Federal tax form 1040x Funding, Minimum Funding Requirement Vesting, Minimum vesting standard must be met. Federal tax form 1040x Prohibited transactions, Prohibited Transactions Qualification rules, Qualification Rules Rate Table for Self-Employed, Table and Worksheets for the Self-Employed Rate Worksheet for Self-Employed, Table and Worksheets for the Self-Employed Reporting requirements, Reporting Requirements Setting up, Setting Up a Qualified Plan Qualified Plans Survivor benefits, Survivor benefits. Federal tax form 1040x Qualified Roth Contribution Program, Qualified Roth Contribution Program R Rate Table for Self-Employed, Rate table for self-employed. Federal tax form 1040x Rate Worksheet for Self-Employed, Rate worksheet for self-employed. Federal tax form 1040x Required distributions, Required Distributions Rollovers, Rollover. Federal tax form 1040x S Safe harbor 401(k) plan, Safe harbor 401(k) plan. Federal tax form 1040x Salary reduction arrangement, Deferral percentage. Federal tax form 1040x , Limit on Elective Deferrals Salary Reduction Simplified Employee Pension(SARSEP), Salary Reduction Simplified Employee Pensions (SARSEPs) SARSEP ADP test, SARSEP ADP test. Federal tax form 1040x Section 402(f) notice, Section 402(f) Notice. Federal tax form 1040x Self-employed individual, Self-employed individual. Federal tax form 1040x SEP plans Deduction Worksheet for Self-Employed, Table and Worksheets for the Self-Employed Rate Table for Self-Employed, Table and Worksheets for the Self-Employed Rate Worksheet for Self-Employed, Table and Worksheets for the Self-Employed Reporting and Disclosure, Reporting and Disclosure Requirements SEP-IRAs Contributions, Contributions for yourself. Federal tax form 1040x Deductible contributions, Deducting Contributions, Excise tax. Federal tax form 1040x Carryover of excess contributions, Carryover of Excess SEP Contributions Deduction limits, Deduction Limit for Contributions for Participants Limits for self-employed, Deduction Limit for Self-Employed Individuals When to deduct, When To Deduct Contributions Where to deduct, Where To Deduct Contributions Distributions (withdrawals), Distributions (Withdrawals) Eligible employee, Eligible employee. Federal tax form 1040x Excludable employees, Excludable employees. Federal tax form 1040x SIMPLE IRA plan Compensation, Compensation. Federal tax form 1040x Contributions, Contribution Limits Deductions, Nonelective contributions. Federal tax form 1040x Distributions(withdrawals), Distributions (Withdrawals) Employee election period, Election period. Federal tax form 1040x Employer matching contributions, Employer matching contributions. Federal tax form 1040x Excludable employees, Excludable employees. Federal tax form 1040x Notification requirements, Notification Requirement When to deduct contributions, When To Deduct Contributions SIMPLE plans, Who Can Set Up a SIMPLE IRA Plan?, Reporting on Form W-2. Federal tax form 1040x SIMPLE 401(k), SIMPLE 401(k) Plan SIMPLE IRA plan, SIMPLE IRA Plan Simplified employee pension (SEP), Salary Reduction Simplified Employee Pensions (SARSEPs) Salary reduction arrangement Compensation of self-employed individuals, Compensation of self-employed individuals. Federal tax form 1040x Employee compensation, Employee compensation. Federal tax form 1040x Who can have a SARSEP, Who can have a SARSEP? SEP-IRA contributions, How Much Can I Contribute? Setting up a SEP, Setting Up a SEP Sixty-day employee election period, Election period. Federal tax form 1040x Sole proprietor, definition, Sole proprietor. Federal tax form 1040x T Tax help, How To Get Tax Help U User fee, User fee. Federal tax form 1040x W Worksheets Deduction Worksheet for Self-Employed, Table and Worksheets for the Self-Employed Rate Worksheet for Self-Employed, Table and Worksheets for the Self-Employed Prev  Up     Home   More Online Publications