How to Ask My Bank for My History of IRA Contributions
An Individual Retirement Account allows investors to leverage several tax benefits to save for retirement or other select purposes permitted by the IRS, such as funding higher education or first-time home buyer expenses. Your bank or other financial institution keeps a record of all activity that takes place on your IRA account.
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Instructions
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Contact your IRA custodian. While your custodian might be a bank, it could also be a brokerage, mutual fund company or other financial institution. Your custodian is the firm that you opened your account with or transferred your IRA to. You can find their contact information on your IRA statement.
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Tell your custodian that you would like see a history of your IRA contributions. All IRA custodians keep a record of this information, not just for customer service and convenience's sake, but to abide by IRS rules, regulations and reporting requirements.
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Ask your custodian to mail you a list of your IRA contributions. You should be able to specify the time period for which you would like to see the history. Alternatively, your custodian might direct you to their website, if applicable, where you can register for online access. Once registered online, you should be able to view your IRA account details, including your history of contributions.
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Tips & Warnings
Alternatively, you can wait for your IRA custodian to send you an IRA statement. Most send statements quarterly. Some send them out monthly or whenever there is activity on your account. Generally, statements show activity, including your contributions, that has taken place on your account during the year, quarter or month.
At the end of the year, your IRA custodian sends you IRS Form 5498, which shows how much you contributed to your IRAs during the year. While this form does not show a history of individual contributions, it shows the entire sum of contributions made during the year.
