Guest post written by Paul Kern, Manager of Instruction at Ascensus
It’s that time of year again! And no, I’m not talking about the holidays and gift giving. In fact, the timing has more to do with a little bit of ‘bah humbug’ in the form of 2012 IRA, HSA, and Coverdell ESA Tax Reporting. = )
Nobody likes to be the Grinch, and a little preparation today will help make the process run smoothly and let you save the Holidays!
The overall process is deceptively simple:
First, make sure that your credit union knows the important dates for this reporting. Knowing the deadlines to report IRA/HSA/ESA information to the IRS and your IRA/HSA Owners or ESA Designated Beneficiaries will aid in planning your work load over this busy season.