Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
Federally Mandated Reporting/Disclosure Form
Program Title and Description:
Annual Withholding Tax Return for U.S. Source Income of Foreign Persons (Form 1042)
Who is Responsible for Reporting?
Megan Brockman, Accountant
Steve Foucart, CFO
Where is Report Physically Located?
Payroll Office, CARR Rm 119E
What Should be Reported?
Total amount of income paid and tax withheld during the calendar year for all payments made to or on behalf of non-resident aliens and some resident aliens.
When Should it be Reported?
No later than March 15 for previous calendar year
Where is it to be Reported?
Internal Revenue Service
Why Should it be Reported?
Per Treasury Regulation 1.1461.2
How is it Reported?
IRS designed forms are completed. It is mailed to the individual and to the IRS.
If notification is required, how is it reported?