Form 1042 and 1042-S Returns

Regulation Reference Cite 26 CFR § 1.1461-1
Report Due Date (Actual) Annual filing due March 15 to IRS and students/vendors
Level Compliance Report
Oversight Unit FINANCIAL SERVICES
Person Responsible Ross Broughton
Secondary Person Responsible Pamela Johnson
President / VP Level Finance
Description

Annual filing due March 15 to IRS and students/vendors.

Use Form 1042 to report the following:

  • The tax withheld under chapter 3 on certain income of foreign persons, including nonresident aliens, foreign partnerships, foreign corporations, foreign estates, and foreign trusts.
  • The tax withheld under chapter 4 on withholdable payments.
  • The tax withheld pursuant to section 5000C on specified federal procurement payments.
  • Payments that are reported on Form 1042-S under chapters 3 or 4.

 

Use Form 1042-S to report:

  • Income and amounts withheld as described in the Instructions for Form 1042-S.

  • Specified Federal procurement payments paid to foreign persons that are subject to withholding under section 5000C.
  • Distributions of effectively connected income by a publicly traded partnership or nominee.

 

Contacts and Data Sources

Financial Services
Internal Notes

This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information