Form 1042-S: what it reports, who files it, and when it is due

Who this page is for

This page is for accounting and bookkeeping firms whose clients paid, or may have paid, amounts to foreign contractors or other foreign payees and need an orientation before the preparer conversation. Whether a payment belongs on Form 1042-S requires a separate sourcing, withholding, and reporting review covered in paying foreign contractors. The current instructions, including the form structure and filing procedures, have their own Form 1042-S instructions walkthrough.

What Form 1042-S reports

Form 1042-S reports amounts paid to foreign persons that are subject to NRA withholding and reporting, together with federal tax withheld, and it can be required even when no withholding was required on the payment (https://www.irs.gov/individuals/international-taxpayers/who-must-file). The instructions also require reporting when an amount remains reportable even though an Internal Revenue Code exemption applied, including effectively connected income that is otherwise subject to reporting (https://www.irs.gov/instructions/i1042s). A separate Form 1042-S is required for each recipient, each type of income paid to that recipient, and each tax rate applied to a given type of income (https://www.irs.gov/individuals/international-taxpayers/who-must-file).

The form sits on the foreign-person side of the reporting split. Payees documented as U.S. persons on Form W-9 generally run through Form 1099 reporting, while foreign persons who provide valid foreign-status documentation are exempt from Form 1099 reporting and backup withholding (https://www.irs.gov/individuals/international-taxpayers/withholding-and-reporting-obligations). Which certification a payee provides is a separate routing question covered in W-8BEN vs W-9. Form 1042-S also carries reporting under chapter 4, commonly called FATCA, and that analysis belongs with the client's tax professional (https://www.irs.gov/instructions/i1042s).

Who files it

The filing obligation falls on the withholding agent. The Form 1042 instructions require every withholding agent or intermediary that receives, controls, has custody of, disposes of, or pays a withholdable payment or an amount subject to withholding to file an annual return unless an exception applies (https://www.irs.gov/instructions/i1042). Confirming which person holds that role for a client arrangement belongs with the preparer.

One narrow Form 1042-S carve-out applies to a withholding agent who is an individual. The individual is excused from reporting a payment when the payment is outside the individual's trade or business and no withholding is required on it (https://www.irs.gov/instructions/i1042s). An individual who makes a payment subject to withholding must report it whether or not the tax was actually withheld.

When it is due

Forms 1042-S, whether filed on paper or electronically, are filed with the IRS and furnished to recipients by March 15 of the following calendar year (https://www.irs.gov/instructions/i1042s). When March 15 falls on a Saturday, Sunday, or legal holiday, the deadline moves to the next business day (https://www.irs.gov/instructions/i1042s and https://www.irs.gov/instructions/i1042). Forms reporting 2026 payments are due March 15, 2027 (https://www.irs.gov/instructions/i1042s). Detailed filing procedures belong with the client's preparer and the instructions walkthrough.

The Form 1042 pairing

A filer required to file any Form 1042-S must also file Form 1042, the annual withholding tax return (https://www.irs.gov/individuals/international-taxpayers/who-must-file and https://www.irs.gov/instructions/i1042s). Form 1042 is due by the 15th day of the third month after the end of the calendar year, which is March 15 for calendar-year filers, and the deadline moves to the next business day when it falls on a weekend or legal holiday (https://www.irs.gov/instructions/i1042).

The two forms serve different reporting levels. Form 1042-S reports recipient-level information, with separate forms by recipient, income type, and tax rate. Form 1042 is the withholding agent's annual return for the year.

How filing happens

Forms 1042-S must be filed electronically when the filer is required to file 10 or more information returns in aggregate during the year, when the withholding agent is a partnership with more than 100 partners, or when the withholding agent is a financial institution, regardless of form count (https://www.irs.gov/individuals/international-taxpayers/electronic-reporting and https://www.irs.gov/instructions/i1042s). A filer may request a hardship waiver from the electronic-filing requirement on Form 8508 (https://www.irs.gov/individuals/international-taxpayers/electronic-reporting).

IRIS replaces FIRE for Form 1042-S. The current instructions state that IRIS must be used to e-file 2026 Forms 1042-S due March 15, 2027, and that IRIS is required after FIRE retires at the end of 2026 (https://www.irs.gov/instructions/i1042s). The IRS describes IRIS as accepting information returns through the Taxpayer Portal and Application to Application channels (https://www.irs.gov/filing/e-file-information-returns-with-iris). Filing belongs with the client's preparer or filing platform.

The firm workflow before the preparer conversation