Understand Year-End IRA Forms
A quick tour of Forms 5498, 1099-R, and how CheckSmith.ai helps.
Updated July 14, 2026
- Form 5498 — reports contributions and fair market value; filed by the custodian to the IRS every May.
- Form 1099-R — reports distributions; issued when money leaves the IRA.
- Neither form is filed by you directly, but you should review both for accuracy.
How CheckSmith.ai helps
- Aggregates contributions, rollovers, and valuations into a single export the custodian can consume.
- Flags missing valuations and prohibited-transaction risks before filing.
- Stores appraisals and supporting documents alongside each holding.
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