Form 5498 - Why?

You should have gotten one every year you had an IRA.

There are up to 15 boxes of information (boxes 12-15 new for 2009) reportable on Form 5498, although many of them don't apply for most recipients, I assume. One of the most important things it reports are

Whether you need it or not, the IRS rules require the issuer to send it. A specific caution in the instructions states it must be issued even if RMD's have begun.

What do you mean, "roll again"? A roll-over does not involve repeat transactions.

It's allowed a June 1st deadline by the IRS, so no worries there. You should have received a statement from the custodian by Jan. 31st with your RMD information (perhaps a year-end account statement).

-Mark Bole

Starrin queried

Mark, in part, replied

Maybe bad choice of words. It was put in a 6 month CD as that is where the highest interest rates were. That CD will be renewed (?) for another 6 months first week in June. Is renewed the right word.

Yes, "renewed" is a better term, although I know banks sometimes refer to the CD automatic renewal as a "roll over".

In tax terms, the roll-over of an IRA has specific tax-related meaning, regardless of whether the IRS includes bank CD's or other investments.

-Mark Bole