Time-domain and multimessenger astronomy (TDAMM) involves the study of transient and time-variable phenomena across various wavelengths and messengers. The Astro2020 Decadal Survey has identified TDAMM as the top priority for NASA in this decade, emphasizing its crucial role in advancing our understanding of the universe and driving new discoveries in astrophysics. The TDAMM community has come together to provide further guidance to funding agencies, aiming to define a clear path toward optimizing scientific returns in this research domain. This encompasses not only astronomy but also fundamental physics, offering insights into properties of gravity, the formation of heavy elements, the equation of state of dense matter, and quantum effects associated with extreme magnetic fields. Magnetars, neutron stars with the strongest magnetic fields in the universe, play a critical role in this context. We aim to underscore the significance of magnetars in TDAMM, highlighting the necessity of ensuring observational continuity, addressing current limitations, and outlining essential requirements to expand our knowledge in this field.