Why do I receive a 5498 tax document in May for the prior tax year… I have already filed my taxes!

Contributions cannot be totaled for a prior tax year because IRA contributions can be accepted for a prior tax year from Jan. 1-April 15. It is the member’s responsibility to know what they have contributed for the tax year they are filing their income tax return. *ex. What this means is I could contribute $3000 during the calendar year 2014 and contribute another $3500 during the time frame of Jan. 1-April 15, 2015 and designate KFCU to accept this contribution for 2014 tax year.