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Asset Information Reporting Codes for Form 5498

Starting in 2015, IRA trustees, custodians and issuers (in the case of individual retirement arrangements) are required to fill out boxes 15a and 15b on Form 5498, IRA Contribution Information. Certain specified assets require completion of boxes 15a and 15b. These assets and their corresponding codes are as follows:

A. Stock or other ownership interest in a corporation not readily tradable on an established securities market.

B. Short- or long-term debt obligation not traded on an established securities market.

C. Ownership interest in a limited liability company or similar entity (unless the interest trades on an established securities market).

D. Real estate.

E. Ownership interest in a partnership, trust, or similar entity (unless the interest trades on an established securities market).

F. Option contract or similar product not offered for trade on an established option exchange.

G. Other assets not having a readily available Fair Market Value.

H. More than two types of assets (listed in A through G) held in this IRA.

Enter a maximum of two codes in box 15b. If more than two codes apply, enter code H.

IRAs holding non-marketable securities and/or closely held investments in which the IRA owner effectively controls the underlying assets of such securities or investments have a greater potential for resulting in a prohibited transaction.

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Page Last Reviewed or Updated: 06-Jun-2016