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Announcement 2004-2
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Internal Revenue Bulletin:
2004-3
January 20, 2004
Announcement 2004-2
New Code W for the 2004 Form W-2, Box 12
| Purpose | The purpose of this announcement is to advise employers about an additional code for use on the 2004 Form W-2. This code
will be used to identify the amount of an employer’s contribution to an employee’s Health Savings Account (HSA). |
| Health SavingsAccounts(HSA) | A new code (Code W—Employer’s contribution to an employee’s Health Savings Account (HSA)) for use in box 12 on the 2004 Form W-2 has been added to the 2004 Instructions for Forms W-2 and W-3. |
| The Medicare Prescription Drug Improvement and Modernization Act of 2003 requires reporting of an employer’s contributions
to an employee’s HSA on Form W-2. The amount that an employer contributes to an employee’s HSA will be shown in box 12 of Form W-2, using Code W. | |
| Generally, employer contributions to an employee’s MSA are not subject to income, social security/Medicare, or Railroad Retirement
taxes and will not affect amounts otherwise reported in boxes 1, 3, and 5 of Form W-2. |
