Form 5498 is a tax form used to report contributions made to certain retirement accounts, like IRAs. Financial institutions send this form to both the IRS and the account holder to show how much was added to the account during the year. It also includes other details, such as rollovers, required minimum distributions, and the fair market value of the account. You don’t need to file this form yourself, but it’s important to keep it for your records. It helps the IRS keep track of your retirement savings and make sure you’re following the rules for tax-advantaged accounts.