Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
Form 1042 is the withholding agent’s annual return for tax withheld on U.S. source income paid to foreign persons. Fill in the official IRS PDF below and download it.
This is the genuine IRS PDF, unmodified. Source: IRS official page.
What is 1042?
Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, reports the tax a withholding agent withheld under chapter 3 on income paid to foreign persons, including nonresident aliens, foreign partnerships, foreign corporations, foreign estates, and foreign trusts. It also covers withholding under chapter 4 (FATCA) on withholdable payments and section 5000C withholding on specified federal procurement payments.
Form 1042 is the annual summary of the withholding agent’s liability and deposits, while the payee-level detail is reported on Forms 1042-S. The return is generally due by March 15 of the year following the payments, and most withholding agents are now required to file it electronically.
Who files 1042?
- U.S. businesses, banks, and other withholding agents that paid U.S. source income to foreign persons
- Payers who filed or were required to file any Forms 1042-S for the year, even if no tax was withheld
- Qualified intermediaries, withholding foreign partnerships, and withholding foreign trusts
- Agents making specified federal procurement payments subject to section 5000C withholding
How to fill out 1042
- Enter the withholding agent’s name, EIN, chapter 3 and chapter 4 status codes, and address at the top.
- Complete the record of federal tax liability by period, showing when the withholding liability arose during the year.
- Reconcile total tax withheld with your deposits, and report the number of Forms 1042-S filed and total gross amounts paid.
- Work through the reconciliation sections for U.S. source FDAP income under chapter 4.
- Download the PDF for your records and file the return by the due date in the current instructions. Most filers must e-file; check the instructions before mailing paper.
Quick fill 1042 on this page
Prefer to see the form itself while you type? Open 1042 in the editor to fill it on the actual pages, add a signature, and download.
Frequently asked questions
What is the difference between Form 1042 and Form 1042-S?
Form 1042 is the withholding agent’s annual summary return of liability and deposits. Form 1042-S is the payee-level information return showing each foreign person’s income and withholding. You generally need both: a 1042-S for each recipient and one Form 1042 for the year.
Do I file Form 1042 if no tax was actually withheld?
Often yes. If you were required to file Forms 1042-S, for example because treaty rates reduced the withholding to zero, you generally still must file Form 1042. See the current instructions for the full list of filing triggers.
Can Form 1042 be filed on paper?
Electronic filing is required for most withholding agents, with limited waivers available. Check the current instructions to see whether you qualify to file on paper before planning to mail it.