See Indiana University's Notice of Non-Discrimination here which includes contact information. Department of Education Office for Civil Rights or the university Title IX Coordinator. Questions or complaints regarding Title IX may be referred to the U.S. Indiana University does not discriminate on the basis of sex in its educational programs and activities, including employment and admission, as required by Title IX. Indiana University prohibits discrimination based on age, ethnicity, color, race, religion, sex, sexual orientation, gender identity or expression, genetic information, marital status, national origin, disability status or protected veteran status. All qualified applicants will receive consideration for employment based on individual qualifications. Indiana University is an equal employment and affirmative action employer and a provider of ADA services. ![]() Customer Service Contactsįor advice about tax matters please consult a personal tax advisor. When you file your annual tax return, you will report the withdrawal of these excess contributions on Form 8889 and pay income taxes on those funds.Īny excess contributions that are not withdrawn from your account before the end of the tax year will be subject to a 6% excise tax until removed. When you receive the distribution, you can treat it like any other income and deposit it into a regular bank account. You must have enough funds in your account for them to issue the FULL excess contribution amount. You also have the option to request direct deposit of the funds as long as your bank account information is on file (there is no fee for this option). Nyhart will issue you a check for the excess contributions (there is a $10 check fee). ![]() Once you’ve calculated the excess contribution amount, you can request a distribution from your account by submitting an HSA Distribution Request Form, then send the completed form to Nyhart via email to To calculate any excess contributions, you can follow the Instructions for IRS Form 8889 or speak to a tax advisor. This refers to contributions that exceed the annual prorated IRS contribution maximum. If you were ineligible to make tax-free contributions for any part of 2022 you’ll need to determine if you made any “excess contributions” to your HSA. This box includes any excess contributions you withdrew from your account, as well as any interest or investment earnings that are attributable to the funds that were withdrawn. Box 2 of Form 1099-SA reports any earnings on excess contributions. A complete list is located on the bottom half of your Form 1099-SA.Ī. Other codes are for specific types of distributions such as a distribution for an excess contribution (2) or a distribution to a beneficiary in the event of death or disability (3, 4, or 6). ![]() A normal distribution means that the funds were withdrawn with your IU Benefit Card, with a check, or through online bill payment. The most common distribution code is “1”, which indicates a normal distribution. The distribution code represents the particular type of distribution made from your HSA. If any excess contributions and associated earnings were distributed, they are also included. ![]() Distributions include any purchase or withdrawal using HSA funds. Box 1 of the 1099-SA reports the total distributions made from your HSA during the tax year. You can find your tax statements on Nyhart’s website by selecting Your Balances, Accounts, then Statements.Ī. You must report distributions from your HSA on IRS Form 8889 and submit it with your annual income tax return. The IRS requires Nyhart to issue Form 1099-SA if you made a distribution from your HSA during the tax year. Life, Disability, and Accident InsuranceĪ.
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