Contributions

Related Topics

HSA Deposit Codes

The valid HSA deposit codes are:

  • C - Current year
  • P - Prior year
  • R - Rollover
  • T - Transfer in from another financial institution
  • I - Internal between accounts

You can set up HSA contributions on the Member Transfer File Information dialog box and Member Payroll Maintenance dialog box. HSA fees may be assessed using Flexible Fees.

Default Deposit Codes

When completing a deposit using Portico, the IRS Deposit Code drop-down list will default to C-Current Year, but you can change it as needed. A default deposit code of C (current year) is used for the following contributions:

  • Portico back-office deposit transactions
  • Payroll deposits
  • ACH deposits
  • Transfer File deposits
  • Same account transfers via Audio Response and online banking from a non-HSA share or share draft to an HSA share or share draft.

A default deposit code of I (internal between accounts) is used for same account transfers via Audio Response and online banking from an HSA share or share draft to another HSA share or share draft.

HSA Dividends

HSA share dividends are deposited back to the HSA share account. HSA dividends cannot be disbursed by check, or transferred to another share account on the same member or a cross-account member. You can make dividend adjustments to an HSA using the Adjustments - Dividend Adjustment tab. HSA dividends are not included in 1099-INT reporting.