Filing Your Taxes.

Contributions to your First Horizon HSA can be made through pre-tax payroll deductions or through tax-deductible contributions. And as long as you use the money for qualified medical expenses, you don't have to pay tax on it or the interest it earns.

There are, however some simple annual tax report requirements. Each year you'll receive from First Horizon Bank IRS Form 1099-SA and IRS Form 5498-SA.

If you have distributions from your account you will receive IRS Form 1099-SA from First Horizon Bank each year before January 31. It reports the total distributions made from your HSA during the previous calendar year.

You will also receive IRS Form 5498-SA each year after before May 31. It reports the total contributions made to your HSA during the previous year.

First Horizon Bank also sends a copy of these forms to the IRS. You can keep the copies you receive for your records. Please review these forms for accuracy and notify First Horizon Msaver immediately if there is an error.

You will need to complete IRS Form 8889 to report HSA contributions and distributions. You will complete this form using IRS Forms 1099-SA and your record of contributions made to the account.

Instructions for IRS Forms 1099-SA and 5498-SA

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