QI/FATCA Agenda March 2010
1042 und 1042-S Reporting
Both, form 1042 and form 1042-S should be filed with the IRS by March 15, 2010:
Ogden Service Center
P.O. Box 409101
Ogden, UT 84409
United States of America
For income paid during the year 2009 only 2009 forms should be used.
Please note, the IRS has introduced an important change of the requirements regarding supporting documentation to be submitted along
with form 1042 (2009). QIs which did not assume primary NRA withholding responsibility have to attach all forms 1042-S issued to them in
order to verify the credit amounts claimed on Line 66 of form 1042.
An extension of six months to file form 1042 can be requested by submitting form 7004 «Application for Automatic Extension of Time
To File Certain Business Income Tax, Information, and Other Returns» latest by March 15, 2010:
- Electronic filing (for further information visit http://www.irs.gov/efile/ under
“Tax Professionals”) or under the applicable address for form 1042 filing
Please note, that solely the time to file form 1042 can be extended with the submission of form 7004. The due dates for any tax payments
remain unchanged.
In order to get an automatic 30-day extension of time to file forms 1042-S form 8809 “Application for Extension of Time to File Information
Returns” should be filed as soon as it becomes obvious that an extension is necessary, but not later than March 15, 2010:
- Electronic filing: http://fire.irs.gov or
- Enterprise Computing Center–Martinsburg
Information Reporting Program
Attn: Extension of Time Coordinator
240 Murall Dr.
Kearneysville, WV 25430
For an additional extension a second form 8809 can be filed with the IRS before the end of the initial extended due date.
To support your filing process of form 1042-S and to help to avoid any potential penalties imposed by the IRS due to filing mistakes
in advance, we have included a link to the IRS website that includes the most common errors in relation with the 1042-S filing.