U.S.A.: Issuance of draft IRS Form 1042-S
Within the coming days, we will be sending out, to those of our customers with reportable payments under U.S. withholding tax rules for the year 2012, a draft of the U.S. Internal Revenue Service (IRS) Form 1042-S (“Foreign Persons U.S. Source Income Subject to Withholding”) recording their Clearstream Banking1 activities.
This is a U.S. information report that we send to customers via mail for information purposes only and customers should not send it anywhere.
Purpose of the draft IRS Form 1042-S
Customers can use their draft IRS Form 1042-S to perform an internal reconciliation with what they are planning to include in their own IRS Form 1042 or Form 1042-S, and thereby identify any discrepancies before submitting a definitive version.
We provide these draft forms for information purposes only and do not warrant the accuracy of the data provided. Furthermore, information concerning tax reporting does not constitute legal or tax advice.
Note: The deadline to provide us with queries or modification requests is 11 February 2013.
Clearstream U.S. tax reports
We will publish an Operational News in due time providing customers with guidance on how to quickly obtain, via email, the full details of taxable U.S. payments reported on their Clearstream Banking accounts. The reports will be provided in Excel spreadsheet format per account, per income code and exemption code, and will be the static match of the amounts reported on the customer’s Form 1042-S.
In addition, customers are reminded that full details of taxable U.S. payments for their accounts are also available in the “US Withholding Tax Report”, which can be requested via CreationOnline. This data is “real-time” and will reflect the possible modifications of payments on customers’ accounts after the emission of the draft Form 1042-S.
Final reporting deadline
Pursuant to the IRS statutory deadline for issuing information reporting, the final IRS Form 1042-S will be issued by 15 March 2013.
Further information
For further information, customers may contact the Clearstream Banking Tax Help Desk on:
| Luxembourg | Frankfurt | |
| Email: | tax@clearstream.com | tax@clearstream.com |
| Telephone: | +352-243-32835 | +49-(0) 69-2 11-1 3821 |
| Fax: | +352-243-632835 | +49-(0) 69-2 11-61 3821 |
or Clearstream Banking Customer Service or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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