What information is provided by UMB to help accountholder tax filings?

As custodian, each year UMB will send the IRS and the accountholder information related to the contributions to an HSA and the distributions from an HSA. Accountholders also receive quarterly paper and electronic statements which illustrate the activity for the quarter.

Note: Unless written notice to the contrary is provided, UMB will conclusively assume that any distribution, whether by check, debit card or otherwise, will be considered "normal distributions" for purposes of tax reporting. Normal distributions include distributions for qualified medical expenses, and expressly exclude the following:

  • Return of excess contributions.
  • Distributions following the accountholder’s disability.
  • Distributions following the accountholder’s death.
  • Prohibited transactions.

If a distribution falls within one of these exceptions, the accountholder must provide written notification to UMB.

Introducing UMB HSA Saver

UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.

How to Use ReceiptVault

HSAs are available to help pay for current qualified medical expenses as well as to save for future expenses, all in a tax-exempt account.

Take the guesswork out of HSA Administration

The UMB HSA empowers you with robust analytics, reporting tools and the communication support you'd expect from a top 10 HSA custodian