U.S.A.: IRS publishes instructions for Form 1042-S

27.06.2014

On 27 June 2014, the U.S. Internal Revenue Service (IRS) published the final version of instructions for Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, relating to reporting by financial institutions and withholding agents for amounts in 2014 subject to withholding under Chapter 3 and for reporting certain payments subject to Chapter 4 (FATCA).

The instructions, which provide clarifications regarding the completion of the form, can be accessed on the IRS website.

We continue to monitor the IRS and commentator publications and will provide customers with further information in due course.

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