HSA Model Documents Posted

(February 13, 2017) On February 8, 2017, the IRS posted new versions of the health savings account (HSA) model Form 5305-B, Health Savings Trust Account, and Form 5305-C Health Savings Custodial Account. These model plan agreements, with a new revision date of October 2016, theoretically replace the December 2011 versions of these forms. However, the HSA model documents that were posted with the new revision date do not contain any substantive changes or updates. Further, the model forms were not accompanied by any formal IRS guidance concerning the intended purpose of the release, or instructions for providers currently using prior versions of the model forms. Given the lack of substantive changes combined with the lack of formal IRS guidance, Convergent Retirement Plan Solutions does not recommend that HSA providers take any action at this time regarding these recently released documents. HSA Stuff staff will continue to monitor any communications from the IRS regarding these recently posted documents, and will provide additional guidance if, and when additional information becomes available.

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