2024

Instructions for Form 

5498-ESA

Coverdell ESA Contribution Information

Department of the Treasury

Internal Revenue Service

Section references are to the Internal Revenue Code 

unless otherwise noted.

Future Developments

For the latest information about developments related to 

Form 5498-ESA and its instructions, such as legislation 

enacted after they were published, go to IRS.gov/

Form5498ESA.

Reminders

In addition to these specific instructions, you should also 

use the current General Instructions for Certain 

Information Returns. Those general instructions include 

information about the following topics.

• Who must file.

• When and where to file.

• Electronic reporting.

• Corrected and void returns.

• Statements to recipients.

• Taxpayer identification numbers (TINs).

• Backup withholding.

• Penalties.

• Other general topics.

You can get the General Instructions for Certain 

Information Returns at IRS.gov/1099GeneralInstructions 

or go to IRS.gov/Form5498ESA.

Online fillable form. Due to the very low volume of 

paper Forms 5498-ESA received and processed by the 

IRS each year, this form has been converted to an online 

fillable format. You may fill out the form, found online at 

IRS.gov/Form5498ESA, and send Copy B to the recipient. 

For filing with the IRS, follow the applicable procedures if 

you are required to file electronically, or, for this form 

only, if you are qualified to file on paper, send in the 

black-and-white Copy A with Form 1096 that you print 

from the IRS website.

Specific Instructions

File Form 5498-ESA, Coverdell ESA Contribution 

Information, with the IRS for each person for whom you 

maintained any Coverdell education savings account 

(ESA) during 2024.

A Coverdell ESA is a trust or custodial account created 

or organized in the United States exclusively for the 

purpose of paying the qualified education expenses of an 

individual who is the designated beneficiary of the trust or 

custodial account. The account must be designated as a 

Coverdell ESA at the time it is created or organized in 

order to be treated as a Coverdell ESA for tax purposes. 

The governing instrument creating the trust must meet the 

requirements of section 530(b)(1).

Contributions. You must report contributions, including 

rollover contributions, to any Coverdell ESA on Form 

5498-ESA. See the instructions under Box 1 and Box 2, 

later. If no reportable contributions were made for 2024, 

no return is required.

For contributions made between January 1, 2025, and 

April 15, 2025, trustees and issuers should obtain the 

participant's designation of the year for which the 

contributions are made.

Rollovers and transfers. Report on Form 5498-ESA 

all rollovers, including a direct trustee-to-trustee transfer 

from one Coverdell ESA to another Coverdell ESA. A 

rollover can be made from certain U.S. Savings Bonds or 

another Coverdell ESA. The contribution of a military 

death gratuity to a Coverdell ESA is a rollover contribution. 

Any amount distributed from a Coverdell ESA may be 

rolled over to another Coverdell ESA and is not taxable if it 

is paid no later than the 60th day after the date of such 

payment or distribution into another Coverdell ESA for the 

benefit of the same beneficiary or a member of the 

beneficiary's family who has not attained age 30 as of 

such date. The preceding sentence shall not apply to any 

payment or distribution if it applied to any prior payment or 

distribution during the 12-month period ending on the date 

of the payment or distribution.

Family member. Family members of the designated 

beneficiary include the beneficiary's spouse. Also 

included are the beneficiary's children, stepchildren, foster 

children, and their descendants; siblings and their 

children; parents, their siblings, and ancestors; 

stepparents; in-laws; the spouse of any of the foregoing; 

and any first cousin of the designated beneficiary.

Total distribution, no contributions. Generally, if a total 

distribution was made from an account during the year 

and no contributions (including rollovers) were made for 

that year, you do not need to file Form 5498-ESA.

Distributions. Report distributions from any Coverdell 

ESA on Form 1099-Q, Payments From Qualified 

Education Programs. Any change in the beneficiary of the 

Coverdell ESA is not treated as a distribution if the new 

beneficiary is a family member (see above) of the prior 

beneficiary and has not reached the age of 30 (except for 

a beneficiary with special needs).

Statements to participants. If you are required to file 

Form 5498-ESA, you must furnish a statement to the 

beneficiary (participant) by April 30, 2025.

For more information about the requirement to furnish 

statements to participants, see part M in the General 

Instructions for Certain Information Returns.

Sep 13, 2023 Cat. No. 34006Q
Truncating beneficiary’s TIN on payee statements. 

Pursuant to Regulations section 301.6109-4, all filers of 

this form may truncate a beneficiary’s TIN (social security 

number (SSN), individual taxpayer identification number 

(ITIN), adoption taxpayer identification number (ATIN), or 

employer identification number (EIN)) on payee 

statements. Truncation is not allowed on any documents 

the filer files with the IRS. A trustee’s or issuer's TIN may 

not be truncated on any form. See part J in the General 

Instructions for Certain Information Returns.

Account number. The account number is required if you 

have multiple accounts for a recipient for whom you are 

filing more than one Form 5498-ESA. Additionally, the IRS 

encourages you to designate an account number for all 

Forms 5498-ESA that you file. See part L in the General 

Instructions for Certain Information Returns.

Box 1. Contributions (Other Than Amounts in 

Box 2)

Enter contributions to a Coverdell ESA made from 

January 1, 2024, through April 15, 2025, designated for 

2024.

Do not include rollovers in box 1. Report rollovers in 

box 2.

Box 2. Rollover Contributions

Enter any rollover contributions (including a military death 

gratuity and trustee-to-trustee transfer) to this Coverdell 

ESA received by you during 2024 (see Rollovers and 

Transfers, earlier).

-2- Instructions for Form 5498-ESA (2024)