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IRS Release Status: FINAL

Sample Excel Import File:  1042-S Sample Excel Import TY2020.xls 

What's New for 2020

  • Box 1 Income code 55 "Taxable death benefits on life insurance contracts" has been added.
  • Box 3b/4b - tax rates - Revised backup withholding rate under section 3406 (24%) has been added to Valid Tax Rate Table.
  • Boxes 12b, 12c, 13f, 13g, 15b, 15c, 16d, and 16e (Chapter 3 Status Code)
    • DeletedChapter 3 Status Codes: 01 (U.S. Withholding Agent - FI), 02 (U.S. Withholding Agent - Other), 34 (U.S. Withholding Agent - Foreign branch of FI) 
    • AddedChapter 3 Status Codes: 36 (Foreign Government - Integral Part), 37 (Foreign Government - Controlled Entity) 
    • UpdatedChapter 3 Status Code: 19 is updated from “Government or International Organization” to “International Organization.”
  • Box 7c Checkbox "Check if withholding occurred in subsequent year with respect to a partnership interest" has been added.
  • Box 12f - country code -  If the withholding agent is a U.S. person or a foreign branch of a U.S. person, filers are now permitted to enter “US” in box 12f even though "US" is not a code on the list IRS.gov/CountryCodes

Import Form Fields:

Field NameSizeType DescriptionNotes
See Form Filer Common Fields Filer fields common to all form types.
See Recipient Common Fields Recipient fields common to all form types.
Unique Form ID10NumericUnique Form Identifier

A withholding agent must provide a unique form identifier number on each Form 1042-S that it files in the box provided at the top of the form. The unique form identifier must: Be numeric (for example, 1234567891), Be exactly 10 digits, and Not be the recipient's U.S. or foreign TIN.

Box 1 Code2TextBox 1: Income CodeSee IRS instructions

Box 2 Amount

12AmountBox 2: Gross IncomeWhole dollar amount

Box 3 Chap 3 Chk

1CheckboxChapter 3 IndicatorX / Y / T / 1 = Checked
Box 3a Exempt Code2TextBox 3a: Chapter 3 Exemption CodeSee IRS instructions
Box 3b Tax Rate4NumericBox 3b: Chapter 3 Tax RateTax Rate as a two-digit whole number and two-digit decimal
Box 4 Chap 4 Chk1CheckboxChapter 4 Indicator X / Y / T / 1 = Checked
Box 4a Exempt Code2TextBox 4a: Chapter 4 Exemption Code See IRS instructions
Box 4b Tax Rate4NumericBox 4b: Chapter 4 Tax RateTax Rate as a two-digit whole number and two-digit decimal
Box 3 Chap Ind 1Checkbox Enter code "3" or "4" (Alternate field. Do not use this field if "Box 3 Chap 3 Chk" or "Box 4 Chap 4 Chk" is in use)
Box 5 Amount12AmountBox 5: Withholding AllowanceWhole dollar amount
Box 6 Amount12AmountBox 6: Net IncomeWhole dollar amount
Box 7a Amount12AmountBox 7a: Federal Tax WithheldWhole dollar amount
Box 7b Check 1CheckboxBox 7b: Check if tax not deposited with IRS pursuant to escrow procedureX / Y / T / 1 = Checked 
Box 7c Check1CheckboxBox 7c: Withholding occurred in subsequent year for a partnership interestX / Y / T / 1 = Checked

Box 8 Amount

12AmountBox 8: Tax withheld by other agentsWhole dollar amount
Box 9 Amount12AmountBox 9: Overwithheld tax repaid to recipient pursuant to adjustment procedures (see instructions)Whole dollar amount
Box 11 Amount12AmountBox 11: Tax paid by Withholding AgentWhole dollar amount
WHA Ch3 Status2TextBox 12b: Withholding Agent's Chapter 3 Status Code See IRS instructions
WHA Ch4 Status2TextBox 12c: Withholding Agent's Chapter 4 Status CodeSee IRS instructions
Rcp Tax Country Name12TextBox 13b: Recipient's Country NameSee IRS instructions

Recipient TIN

11NumberBox 13e: Recipient's U.S. TIN, if any
Rcp Ch3 Status2TextBox 13f: Recipient Chapter 3 status code See IRS instructions
Rcp Ch4 Status2TextBox 13g: Recipient Chapter 4 status code See IRS instructions
Rcp GIIN19AlphaNumericBox 13h: Global Intermediary Identification Number (GIIN)
Rcp Foreign TIN22TextBox 13i: Recipients Foreign TIN
Rcp LOB code2CodeBox 13j: Limitation on Benefits CodeSee IRS instructions
Rcp DOB8NumberBox 13l: Recipient's Date of Birth MM/DD/YYYY
Box 14a Primary Name40TextBox 14a: Primary Withholding Agent's Name (if applicable)
Box 14b Primary EIN11NumberPrimary Withholding Agent's EIN
Box 14b Primary Type1CharacterBox 14b:  Primary TypeCharacter EIN=1, SSN=2, Unknown type=0 or blank
Pro-rata Basis Chkbx1CheckboxBox 15 Checkbox: Pro-rata Basis ChkbxX / Y / T / 1 = Checked. Pro-rata Reporting. See IRS instructions
Box 15a I/FTE EIN11NumberBox 15a TIN: Intermediary flow-through's EINIntermediary or flow-through TIN if known or blank if unknown
Box 15b I/FTE Ch32TextBox 15b Code: Intermediary’s or FTE’s Chapter 3 Status CodeSee IRS instructions
Box 15c I/FTE Ch42TextBox 15c Code: Intermediary’s or FTE’s Chapter 4 Status CodeSee IRS instructions
Box 15d I/FTE Name 140Text

Box 15d Name: Intermediary/Flow-Through's Name

Box 15e I/FTE GIIN19TextBox 15e GIIN: Intermediary or FTE GIINIntermediary or FTE Global Intermediary identification Number (GIIN)
Box 15f Country Name12TextBox 15f: Intermediary/Flow-Through's Country NameSee IRS instructions
Box 15g Foreign TIN22TextBox 15g TIN: Intermediary/Flow-Through's Foreign Tax I.D. Number
Box 15h I/FTE Addr 140TextBox 15h Address: Intermediary/Flow-Through's Address Line-1
Box 15h I/FTE Addr 240TextBox 15h Address: Intermediary/Flow-Through's Address Line-2
Box 15d I/FTE Name 240TextBox 15d Name 2: Intermediary/Flow-Through's Name
Box 15d I/FTE Name 340TextBox 15d Name 3: Intermediary/Flow-Through's Name
Box 15i I/FTE City40TextBox 15i City: Intermediary/Flow-Through's City
Box 15i State/Prov2CharacterBox 15i State/Prov: Intermediary/Flow-Through's US State or province
Box 15i Zip/Postal10CharacterBox 15i Zip/Postal: Intermediary/Flow-Through's Zip/Postal
Box 16a Payer's Name40TextBox 16a Name: Payer's Name
Box 16b Payer's TIN11TextBox 16b TIN: Payer's TIN
Box 16c Payer's GIIN19TextBox 16c GIIN: Payer's GIIN
Box 16d Payer's Ch3 2TextBox 16d Code: Payer's Chapter 3 Status CodeSee IRS instructions
Box 16e Payer's Ch4 2TextBox 16e Code: Payer's Chapter 4 Status CodeSee IRS instructions
Box 17a Amount12AmountBox 17a Amount: State income tax withheldWhole dollar amount
Box 17b State Tax No.10TextBox 17b: Payer's State Tax NumberGiven by State Department of Revenue
Box 17c State2TextBox 17c: Payer's US State/Canadian provinceUse State/Province abbreviation

See Form Common Fields

Form fields common to all form types.

1042-S Form:

IRS 1042-S Form:  1042-S 2020 Form

IRS 1042-S Instructions:  1042-S 2020 Instructions

1042-S Correction of a Correction Walk Through Guidebook PDF download

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