Education Retirement 5498-ESA Report/Forms Year-End Reporting (FPSDR185) |
  
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Education Retirement 5498-ESA Report/Forms Year-End Reporting (FPSDR185) |
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Availability
This report and these laser forms are run in November on the October 31 file every year as a test. On December 31 of every year, this report and these notices are processed to meet requirements for ESA contributions and rollovers.
Purpose
The Education Retirement 5498-ESA Report/Forms Year-End Reporting (FPSDR185) shows all retirement accounts that will require 5498-ESA notices. Every account holder that has a balance or contribution for the year must receive a 5498-ESA form by January 31st. If the account holder has more than one account, only one account number will be printed. This account number must be used for any corrections created after year-end.
The laser forms are sorted by Social Security number or short name. No other sort options are available.
The April 5498-ESA reports and forms are processed using Education Retirement 5498-ESA Report/Forms April Reporting (FPSDR098).
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GOLDPoint Systems Only: Create one setup for forms and another one for the report.
Set Misc Opts 1 to "Y" to print forms and "N" to print the report.
To combine notices by social security number, the Sort fields and lengths are as follows:
86 Mail code (1) 81 Social security number (5) 89 Plan number (2)
To combine notices by short name, both the short name and the Social Security number Sort fields must be used, and used in this order. Sort fields and lengths are as follows:
86 Mail code (1) 82 Short name (10) 81 Social security number (5) 89 Plan number (2)
Note: This sort order is not optional.
Set the Critical field as follows: "1-4" for notices, "1-12" for the report sorted by Social Security number, and "1-22" for the report sorted by short name.
For notices only, the Subprog Cntrls Print field should be set to "Y."
5498-ESA forms are reports are processed at year-end using this report (FPSDR185) and in April using Retirement 5498-ESA Report/Notices April Reporting (FPSDR187). |
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Report Column Information
See FPSDR185 Example for an example of this report.
Column |
Description |
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Plan # |
This is the Plan Number (DMPLAN) for the retirement account. It is pulled from the Deposits > Account Information > Account Information screen in CIM GOLD. |
SSN |
This is the Social Security number of the IRS account owner (MNSSFI), pulled from the CIF System. |
Account Number |
This is the office number (DMACTO), account number (DMACTA), and check digit (DMCKDG). |
Owner's Short Name |
This is the IRS owner’s short name (SHNAME), pulled from the CIF System. |
Contributions for This Year |
This is the contribution amount that was made to the account last year. This amount is pulled from the YYYY Contribution field (DMCNLY) on the Totals tab of the Deposits > Retirement > Retirement Plan screen in CIM GOLD, where “YYYY” is last year. |
Rollover Amount |
This is the rollover amount for the previous year. This amount is pulled from the Prior Year Rollover Amount field (DMPYRA) on the Totals tab of the Deposits > Retirement > Retirement Plan screen in CIM GOLD. |
End of Year Balance |
This is the Current Balance (DMCRBL) at the end of the calendar year. It is found on various screens in CIM GOLD, including the Deposits > Account Information > Account Information screen and the Deposits > Retirement > Retirement Plan screen. |
Totals and Subtotals Provided
Subtotals are provided by office number. Totals are provided by institution.
Form 5498-ESA
The notice above is an example only. Please note that the form is subject to change based on Federal Regulation and may appear different from the one illustrated above.
