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1042 - Overview

The Form 1042 should be used 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 under section 5000C on specified federal procurement payments.
  • Payments reported on Forms 1042-S under Chapters 3 or 4.

Form 1042 is the annual, filer-level return that summarizes and reconciles the filer’s Forms 1042-S for the tax year. There is generally one Form 1042 per filer per tax year, and the return must be signed under penalties of perjury.


Deadlines

See below for the deadlines relevant to Form 1042:

  • March 15 is the deadline to submit Form 1042 to the IRS.

If a deadline falls on a weekend or holiday, it will be extended to the next business day. A 6-month extension is generally available.


Resources

Please note: Taxbit is adding support to be able to generate and file for TY2026 and forward. We do not support this form prior to TY2026.