Frequently Asked Questions about HSA Contributions

 

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1. When is the last date I can make a contribution to my HSA?
2. How do I know how much I can contribute to my HSA?
3. What if I go over the maximum allowable contribution?

1. When is the last date I can make a contribution to my HSA?

You have until April 15 of the following year to make contributions for the current tax year. The contribution must be credited to the account by April 15. All deposits are credited as current year contributions unless otherwise noted. You may indicate the type of contribution, current or prior year, on the Mail-in Contribution Form that accompanies your check. If you would prefer, you may have contribution amounts debited directly out of your personal checking account on a Weekly, Bi-weekly or Monthly basis by using the ACH Authorization Form.

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2. How do I know how much I can contribute to my HSA?

Click here to visit Frist Horizon's interactive Contribution Calculator, which will show you exactly how much you can put in your HSA.

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3. What if I go over the maximum allowable contribution

To avoid taxes and penalties, you must remove any excess contributions made to your HSA. You have until the due date for filing your federal income taxes, including extensions, to remove excess contributions from your account.

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