Are you required to file Form 1042-S electronically?
Treasury Decision 9972 amended Treasury Regulation § 301.6011-2 to change the electronic- filing requirements for certain information returns, including Forms 1042-S.
New Electronic-Filing Requirements
For a withholding agent that is not financial institution, to determine whether you are required to file information returns electronically, aggregate all the information returns (see list below) and Forms W-2 you are required to file during the calendar year. If the total is 10 or more information returns, you must file all your information returns electronically, including Form(s) 1042-S.
A partnership with more than 100 partners is required to file all its information returns, including Form(s) 1042-S, electronically regardless of whether it is required to file 10 or more information returns during the calendar year.
If you were required to file an original information return, including Form 1042-S, electronically, you must file any corrected information return, including Form(s) 1042-S, electronically regardless of the number of information returns you need to correct.
The following information returns must be aggregated to determine if you meet the electronic- filing threshold: Form 1042-S, Form 1099 series, Form 1094 series, Form 1095-B, Form 1095-C, Form 1097-BTC, Form 1098, Form 1098-C, Form 1098-E, Form 1098-Q, Form 1098-T, Form 3921, Form 3922, the Form 5498 series, Form 8027, Form W-2G, Form 499R-2/W-2PR, Form W-2VI, Form W-2GU, and Form W-2AS.
Effective for Tax Years 2023 and After
The new threshold is effective for Tax Year 2023 (and for subsequent years) Forms 1042-S that are due on or after March 15, 2024.
Additional Resources
- E-file information returns
- Publication 1187, Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding
- Filing Information Returns Electronically (FIRE)