FORM 5498
TAX YEAR 2012
IMPORTANT TAX INFORMATION
This notice provides you with tax information to help you understand the Internal Revenue Service (IRS)
Form(s) 5498, “IRA Contribution Information,” that we sent to you.
TIAA-CREF cannot give tax advice. The information in this notice is based on TIAA-CREF’s
understanding of the current federal tax laws and regulations. Use this notice, together with your
tax advisor’s assistance, to complete your income tax return(s). For more information, refer to the
Frequently Asked Questions section of this document and Form 5498 and its instructions.
YOUR TAX FORM(S) ARE AVAILABLE ONLINE
If you have signed up for electronic delivery (eDelivery)
of your tax form(s), your tax information is available for
review online at tiaa-cref.org. To view your tax form(s)
please “LOG IN” to your account, go to the “Manage My
Portfolio” tab, and then to the “Statements & Reports”
link.
As a reminder, if you are currently signed up for
eDelivery, TIAA-CREF will no longer send you a paper
copy of your tax form(s). Paper copies are available upon
request by contacting our National Contact Center or by
logging into your account at tiaa-cref.org and requesting
a duplicate copy.
If you have not signed up for eDelivery of your tax
form(s) and you would like to see them online, “LOG IN”
to your account, and request eDelivery of your tax
form(s). Once you’ve signed up, then contact our
National Contact Center to complete the process.
For more information, you can visit the IRS website at
www.irs.gov. If you have questions about this notice,
call our National Contact Center at 800 842-2252.
Consultants are available Monday through Friday from
8 a.m. to 10 p.m., and Saturday from 9 a.m. to 6 p.m.
(ET). From outside the United States, call
877 518-9162. Please note: Our busiest times are from
12 p.m. to 2 p.m. (ET) and our busiest day is Monday.
ADDRESS CHANGE INFORMATION
Please provide address changes on a timely basis to
help ensure accurate tax withholding and reporting.
You may change your address online using the “My
Profile” tab or send address changes in writing to:
TIAA-CREF, P.O. Box 1259, Charlotte, NC 28201. Be
sure to include your Social Security number and
contract number(s).
MAKE YOUR IRA CONTRIBUTION
2013 REQUIRED MINIMUM DISTRIBUTION (RMD)
FROM YOUR IRA
If you were at least 701/2 years of age in 2012, current
federal law requires that you take a minimum
distribution from your TIAA-CREF Traditional, Rollover,
or SEP IRA account(s) for tax year 2013. Box 11 of Form
5498 will indicate that you must
take a minimum distribution from
your IRA for calendar year 2013.
We’ll report this information to the
IRS.
Making a contribution, whether for the 2012 or 2013 tax
year, is easy:
By Mail: Complete a contribution coupon and mail it to
us with your payment. (Found in your printed annual
5498 tax statement or online at https://www.tiaacref.org/public/pdf/forms/ira_payment_coupon.pdf)
By Phone: Call our Automated Telephone Service at
800 842-2252, 24 hours a day, 7 days a week.
Or Online: Log in at tiaa-cref.org and make your
contribution securely online.
FREQUENTLY ASKED QUESTIONS
1. Why did I receive Form 5498?
Federal law requires TIAA-CREF to report contributions
(deductible and nondeductible), conversions,
recharacterizations, and rollovers you made to an IRA in
2012 (and 2012 contributions you sent in between
January 1 and April 15, 2013). These amounts are
indicated on Form 5498 along with the fair market value of
your IRA contract(s) as of December 31, 2012.
7. How do I determine the basis of my IRA?
Use IRS Form 8606 to determine the basis of a Traditional
or Roth IRA. If this is the first year you contributed into
an IRA, your basis begins with the amount you
contributed. However, if you took a deduction of
traditional contributions on your tax return, then your
basis would be zero. For more information, see IRS
Publication 590.
8. How do I determine the nondeductible amount
of my IRA?
2. Why is the SEP-IRA contribution listed in Box 8
different from my records?
Use IRS Form 8606 to determine the nondeductible
amount of a Traditional or Roth IRA.
The IRS requires that TIAA-CREF report contributions to
SEP IRA accounts in the calendar year that the funds are
received. Please consult your tax advisor on how to report
these contributions on your tax return.
9. How do I determine the taxable amount of
my conversion?
3. Why is there a check in Box 11 of Form 5498?
This informs you that a Required Minimum Distribution
(RMD) must be taken for tax year 2013.
4. What are the IRA contribution limits?
Generally, the contribution limits are based on earned
income, which includes all the taxable income and wages
you received from working. In addition, a phased-out
income level may further reduce your contribution
limits. For tax year 2012, the maximum contribution
limit is $5,000; if you are age 50 or over, there is a
‘catch-up’ provision for tax year 2012, making the
maximum contribution $6,000. See IRS Publication 590.
5. I received a refund of an IRA Excess Contribution, but
Form 5498 still reflects my entire contribution, including
the refund. Will I receive a revised Form 5498?
No. TIAA-CREF must report the entire contribution,
including the excess contribution amount, to the IRS.
However, you’ll receive IRS Form 1099-R showing that
we refunded your IRA Excess Contribution.
6. Do I have to attach Form 5498 to my income
tax return?
Use IRS Form 8606 to determine the taxable amount of a
conversion. On Form 8606, you must enter the amount of
the conversion, the original amount of any recharacterized
funds, and your basis in the conversion. Your conversion
and recharacterization confirmation statement(s), along
with your quarterly statement(s), have the information
you need to complete this form. Please see Part II of
Form 8606 and its instructions.
10. Where can I find specific information regarding the
Form 5498 included in this package?
The instructions included with the 2012 U.S. Individual
Income Tax Return (IRS Form 1040 or 1040A) and IRS
Publication 590, “Individual Retirement Arrangements (IRAs),”
give additional information on reporting requirements
for your IRA. To get this information, call the IRS at
800 TAX-FORM or visit their website at www.irs.gov.
11. Why does my tax form only show the last four digits
of my taxpayer identification number?
Your tax form may show only the last four digits of your
taxpayer identification number. However, TIAA-CREF
has reported your complete identification number to the
IRS, and where applicable, to state tax authorities.
Duplicate form(s) will show your complete identification
number.
No. Form 5498 is for informational purposes only.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute
securities products. TIAA (Teachers Insurance and Annuity Association) New York, NY and TIAA-CREF Life Insurance Co., New York, NY
issue insurance and annuities. TIAA Trust Company, FSB provides trust services.
©2013 Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017