Form-1042

What is IRS Form 1042?


IRS Form 1042 is used to report a foreign person’s income, if it is sourced in the U.S., and subject to withholding.
Example use: Payers use this form to report payments to foreign persons.

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When would you need to file a 1042?

  • Every withholding agent or intermediary who receives, controls, has custody of, disposes of, or pays a withholdable payment (to which chapter 4 withholding applies) or an amount subject to withholding, must file an annual return for the preceding calendar year on Form 1042.
  • Any PTP or nominee making a distribution of ECI under section 1446, or any entity required to report a distribution on Form 1042-S that is subject to withholding under section 1445, must file Form 1042.
  • For more, Visit www.irs.gov


Important dates


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Filing Type Due Date
IRS Paper Filing Mar 16, 2020

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