As the 2025 tax year ends, it’s crucial to report all contributions to Coverdell Education Savings Accounts accurately using IRS Form 5498-ESA. Whether you’re a financial institution or a taxpayer, understanding this form and meeting IRS deadlines helps avoid penalties and keeps your tax records in order. This guide will help you file correctly.
What is Form 5498-ESA?
Form 5498-ESA, titled Coverdell ESA Contribution Information, is used to report contributions (including rollovers) made to Coverdell ESAs during the year. It helps the IRS track contributions and ensure compliance with annual contribution limits.
What are the required details to report on 5498-ESA Form?
- Trustee or Issuer Details: Name, address, and TIN
- Beneficiary Information: Name, address, and TIN
- Account Number (if multiple accounts exist)
- Contribution Details
Step-by-Step Guide to Filling Out Form 5498-ESA for 2025
Follow our clear instructions for Form 5498-ESA to avoid mistakes when filing.
Step 1: Complete the Trustee/Issuer Information
- Enter the financial institution’s (trustee/issuer) name, complete street address, city, state, province, country, and ZIP or foreign postal code.
- TRUSTEE’S/ISSUER’S TIN: Enter the nine-digit Tax Identification Number of the financial institution managing the Coverdell ESA.
Step 2: Fill Out Beneficiary Information
- BENEFICIARY’S TIN: Enter the beneficiary’s nine-digit Social Security Number, Individual Taxpayer Identification Number (ITIN), Adoption Taxpayer Identification Number (ATIN), or Employer Identification Number (EIN).
- BENEFICIARY’S Name: Enter the full legal name of the person who will benefit from the education savings account exactly as it appears on their tax identification documents.
- Street Address: Include the beneficiary’s complete street address, including apartment or unit numbers if applicable.
- City, State, ZIP: Fill in the beneficiary’s city, state or province, country, and ZIP or foreign postal code.
- Account Number: Enter the specific account number assigned by the financial institution in the designated field at the bottom of the form. This is required if you have multiple accounts for the same beneficiary and are filing more than one Form 5498-ESA. The IRS encourages designating an account number for all forms filed.
Step 3: Complete Box 1 – Coverdell ESA contributions
- Enter the total dollar amount of contributions to the Coverdell ESA made from January 1, 2025, through April 15, 2026, that are designated for the 2025 tax year.
Note: Do not include rollover contributions in Box 1. These go in Box 2.
Step 4: Complete Box 2 – Rollover Contributions
- Enter any rollover contributions received during 2025, including:
- Direct trustee-to-trustee transfers from one Coverdell ESA to another
- Rollovers from certain U.S. Savings Bonds
- Military death gratuity contributions
- Any amount distributed from another Coverdell ESA and rolled over within 60 days
Rollover Rules: The rollover must be for the benefit of the same beneficiary or a family member who has not reached age 30. Family members include spouse, children, stepchildren, foster children and their descendants, siblings and their children, parents and their siblings, stepparents, in-laws, spouses of the foregoing, and first cousins.
E-file Form 5498 ESA online with TaxZerone
You can file IRS Form 5498-ESA electronically with TaxZerone starting at just $2.49 per form. Bulk filing rates are available at $0.59 per form, helping you submit education savings account information quickly, accurately, and securely.
Last modified: December 30, 2025
