Form 1042-S - Foreign Person's
Income Subject to Withholding
What’s new for 2012?
The IRS has created a pages on IRS.gov for information about Form 1042-S and its instructions, at www.irs.gov/form1042. Information about any future developments affecting Form 1042-S (such as legislation enacted after form release) will be posted on that page.
Use income code 42 for earnings as an artist or athlete if there is no central withholding agreement. Use income code 43 for earnings as an artist or athlete if there is a central withholding agreement.
Interest paid on foreign-targeted bearer obligations issued after March 18, 2012, does not qualify as portfolio interest.
Enter the QSL’s EIN or QI-EIN in box 14 if you paid substitute dividends to a QSL.
What to Report
Income such as interest, dividends, royalties, pensions and
annuities, etc., and amounts withheld under Chapter 3 of the Internal
Revenue Code. Also, distributions of effectively connected income by
publicly traded partnerships or nominees.
To Internal Revenue Service
Paper: March 15
E-File: March 15
To State Agency
State Filing Deadlines
* If date shown falls on a Saturday, Sunday or legal
holiday, the due date is the next business day.
Where To File
Federal - Paper
P.O. Box 409101
Where To File Federal - E-file
Federal Filing Requirements
- Copy A -
For Internal Revenue Service
- Copy B -
- Copy C -
For Recipient--Attach to any Federal tax return you file
- Copy D -
For Recipient--Attach to any state tax return you file
- Copy E -
For Withholding Agent
Federal E-Filing Requirement
Any person, including a corporation, partnership,
individual, estate, and trust, who is required to
file 250 or more information returns must file such returns electronically.
The 250 or more requirement applies separately to original and amended
returns. For example, if you have 300 original Forms 1042-S, they must be
filed electronically. However, if 200 of those forms contained erroneous
information, the amended returns may be filed on paper because the number
of amended Forms 1042-S is less than the 250 or more filing requirement.
Federal Transmittal Form Requirement
Paper: Form 1042-T
E-file: None Required
IRS Specific Form 1042-S
Order 1042-S Forms