Understanding Your Form 5498 Tour

Click on the

arrows to find out more about each section of Form 5498-ESA.

For more detailed information about Form 5498-ESA, contact Principal Trust's Client Contact Center at 800.209.9010, or download the complete IRS Instructions for Forms 5498-ESA.

Trustee or Issuer's Name and Address:

Principal Trust Company/Delaware Charter is the trustee of your account. This field shows our legal name (Delaware Charter Guarantee & Trust Company) and our mailing address.

Trustee’s or Issuer’s Federal ID No.:

Shows Principal Trust Company/Delaware Charter's taxpayers identification number.

Beneficiary's Social Security Number:

Shows your Social Security number used for tax identification purposes.

Coverdell Contributions:

Shows Coverdell ESA contributions for 2011, including those made through April 18 of the current year. If the total of all contributions made to all your Coverdell ESAs for the year exceeded $2,000, you must withdrawal the excess (plus earnings) by May 31 to avoid a penalty.

Rollover Contributions:

Shows any rollover, including a trustee transfer from another Coverdell ESA to this Coverdell ESA, that you made in 2011.

Coverdell ESA Contributions:

Shows Coverdell ESA contributions for 2011 through April 17 of the current year on your behalf. Do not deduct on your income tax return. If the total of all contributions made to all your Coverdell ESAs this year exceeded $2,000, you should withdrawal the excess, plus earnings, generally by May 31, or you may owe a penalty. You must keep track of your Coverdell ESA basis (contributions and distributions. See Publication 590.

Corrected Form 5498:

If this box is checked it indicates that a corrected Form 5498-ESA was filed with the IRS. Corrections must be filed with the IRS as soon as possible after errors are discovered.

Copy B - For Beneficiary:

Indicates this is Copy B of your Form 5498-ESA for your records. Principal Trust Company/Delaware Charter files copy A with the IRS.

Account Number:

Shows the brokerage account number for your Coverdell ESA.

Source – Product:

Shows internal routing number used to produce this form.