U.S.A.: FATCA : IRS release new draft 1042 and 1042-S forms for 2014
The U.S. Internal Revenue Service (IRS) has released drafts of the following new forms for 2014, both dated 2 April 2013:
- 1042 Annual Withholding Tax Return for U.S. Source Income of Foreign Persons; and
- 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.
The new draft 1042 and 1042-S forms will cover information requirements for the application of both Chapter 3 (Qualified Intermediary (QI) regime) and Chapter 4 (FATCA regime).
No further details have yet been provided and we are awaiting the final versions and relevant instructions.
The above information is not intended to be exhaustive. We will continue to monitor the IRS and commentator publications and will provide customers with further relevant information in due course.
Further information
For further information, customers may contact the Clearstream Banking1 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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