What Is Form 1042-T and How Do You File It?
Learn the function of Form 1042-T, the transmittal sheet withholding agents use to summarize and submit paper copies of Form 1042-S to the IRS.
Form 1042-T is a transmittal document, or cover sheet, for paper submissions of Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. It is filed by withholding agents to summarize the attached 1042-S forms, providing the IRS with a clear total of the forms being sent and the amounts reported. This form should not be confused with two related documents. Form 1042 is the annual tax return reporting the total liability for tax withheld, while Form 1042-S reports the specific income and withholding details for each foreign recipient. Form 1042-T exclusively accompanies the paper copies of Form 1042-S sent to the IRS.
Information Required for Form 1042-T
A withholding agent must gather specific identifying information and calculate summary totals from the accompanying Forms 1042-S. The top of the form requires the withholding agent’s name, full address, and either an Employer Identification Number (EIN) or a qualified intermediary EIN. You must also enter the tax year for which the forms are being filed.
The filer must enter the total number of Forms 1042-S included in the shipment. Two financial totals are required: the total gross income paid and the total U.S. federal tax withheld, as reported across all the individual 1042-S forms. These figures must match the sum of the corresponding boxes on the attached forms.
A separate Form 1042-T is required for each type of Form 1042-S being transmitted. Filers must use separate transmittal forms for original and amended returns. Forms reporting Chapter 3 amounts must also be transmitted separately from those reporting Chapter 4 amounts. The filer must indicate on Form 1042-T which type of form is attached. The official form can be downloaded from the IRS website.
Filing Procedures and Deadlines
The deadline for filing Form 1042-T, along with the associated Forms 1042-S, is March 15 of the year following the calendar year in which the income was paid. If this date falls on a weekend or legal holiday, the due date shifts to the next business day. An extension for filing Form 1042-S and 1042-T with the IRS can be requested by submitting Form 8809, Application for Extension of Time To File Information Returns, which may grant an initial 30-day extension.
When submitting the paper documents, Form 1042-T must be placed on top of the stack of the corresponding Copy A of Forms 1042-S. The complete package should be mailed to the Ogden Service Center, P.O. Box 409101, Ogden, UT 84409.
Withholding agents who file 10 or more information returns in aggregate during the year are required to file electronically. This total includes forms such as the Form 1042-S, Form 1099 series, and Form W-2. Electronic filing is done through the IRS’s Filing Information Returns Electronically (FIRE) system. When filing electronically, a transmittal form is not used because the system handles the data transmission.