Form 1042-S Information
Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding, is issued annually to certain international students, employees, and vendors who received one or more of the following types of income:
- Employment wages exempt from tax withholding due to a tax treaty (whether nonresident alien or resident alien).
- Gift aid subject to ATAX withholding (including gift aid taxed at 0% due to a tax treaty).
- Non-wage compensation for services performed as a nonresident alien independent contractor while physically present in the United States.
- Honoraria, royalties, and prizes paid to a nonresident alien (whether paid as cash, cash-equivalent, or goods (e.g., televisions, athletic event tickets)).
Under Internal Revenue Service (IRS) rules, Form 1042-S will be issued no later than March 15th of each calendar year. Not all international students, employees, and vendors will receive Form 1042-S. Each type of income is reported on a separate Form 1042-S. As such, some individuals may receive multiple Forms 1042-S for a single calendar year. For example, a student employee that received tax treaty benefits on employment wages and also received gift aid subject to ATAX withholding will receive two Forms 1042-S.
Individuals who receive Form 1042-S should use the information on the document when filing their personal income tax returns. See Filing a United States Tax Return for additional information on preparing a tax return.
Individuals who receive Form 1042-S should use the information on the document when filing their personal income tax returns. See Filing a United States Tax Return for additional information on preparing a tax return.