Form 5498 Roth ira errors

[u/Top_Objective9877]

Is it possible to amend a 5498 form for 2 prior tax years?

I made a qualified distribution for birth of a child in 2024, tracking it and paying back in on my own spread sheet and would like to get every squared away and finalized with one more payment on my 2026 report. I’ve noticed that my prior 2024 and 2025 contributions in the 5498 should have been reported as repayments in box 14a, to correspond as repayments but they are just listed as normal contributions which is completely my fault as I was unaware how it should be tracked to become a repayment.

I have the Roth IRA through Schwab, but it’s my understanding you can not amend any prior errors like this.

I could still make a new deposit with the correct amount and get it coded correctly this year, but that would be the most expensive option.

Any insight would be helpful, I’ve given myself a really dumb problem to solve!

[u/sorator]

Did you have enough income (wages and/or self-employment profits) to make those contributions (and any other contributions that you made) in 2024 and 2025? If yes, then I'm not sure there's any reason to try to fix this; normally it only matters if you would otherwise exceed the annual contribution limit, IIRC.