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Who needs Form 1042-T?
Form 1042-T is the Annual Summary and Transmittal of Forms 1042-S. It is created for all individuals who file their 1042-S or Foreign Person’s U.S. Source Income Subject to Withholding.
What is Form 1042-T for?
The aim of the form is to transmit all 1042-S forms to the Internal Revenue Service. The rules for transmittal are as follows:
- If you’re submitting more than 250 1042-S forms, you must fill them out electronically
- Even if you’re completing fewer than 250 1042-S forms, but the amount of the forms is close to that figure, you must also submit them electronically
- If you’re a business you must file all 1042-S forms in electronic format. The number doesn’t matter.
An important fact is that if 1042-S forms are electronic there is no need to file Form 1042-T. Even if an individual uses Form 1042 T to transmit 1042-S, they must file Form 1042 first. If you haven’t filed 1042 form yet, you may file several 1042-T forms before you submit 1042.
Is Form 1042-T accompanied by other forms?
Form 1042 -T is accompanied by one or more copies of Form 1042-S.
When is Form 1042-T due?
In 2017, Form 1042-T is due the 15th of March.
How do I fill out Form 1042-T?
The form contains only one page and a few lines to be completed. These fields are designed for the following information:
- Employer identification number,
- Type of the paper 1042-S forms and the amount of these forms
At the bottom of the page there is a field for a signature, date, title and phone number.
Where do I send Form 1042-T?
Send the form to the Ogden Service Center by mail. See the exact address in the instructions to the form on the IRS website.