HSA Frequently Asked Questions

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Contribution Deadline Postponement Due to Hurricane Katrina

The IRS had issued much guidance for Katrina affected tax payers and has postponed the due date for 2005 tax returns for residents of many affected parishes and counties until August 28, 2006.  Does this postpone the date for making 2005 HSA contributions as well for residents of those parishes and counties?

Yes. The rules that trigger a postponement of the deadline for making IRA contributions were issued before Hurricane Katrina and before HSAs were first in existence.  However, because the deadline for making HSA contributions is established in the Internal Revenue Code by cross-referencing the deadline for making IRA contributions, whenever there is an official postponement of the deadline for making IRA contributions, it will constitute a postponement of the deadline for making HSA contributions.  Therefore, residents of the following parishes and counties have until August 28, 2006, to make HSA contributions for 2005:

Other individuals (such as disaster relief workers and affected individuals in nearby counties and parishes) may also have until August 28, 2006, to make 2005 HSA contributions.  See IRS Notice 2006-20 http://www.irs.gov/pub/irs-drop/n-06-20.pdf for further details.   

Last Updated: April 27, 2006