Page History

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• 01 last year meant Individual but now it designates U.S. Withholding Agent – FI
• 02 last year meant Corporation and now it designates U.S. Withholding A
  gent – Other
  
  

Notes regarding your imports:

Required:  one and only one Box 3 Chap 3 Chk pr Box 4 Chap 4 Chk must be checked

“Rcp TIN Type” is not needed if your recipient TINs are formatted as XXX-XX-XXXX or XX-XXXXXXX    If you use this field a 1 means one dash = EIN and a 2 means two dashes = SSN and zero or blank for unknown.  Note this 0/1/2 schema differs from the required “Box 13g TIN Code” discussed on this page.

And many, many other changes. 

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2014 1042-S Instructions:  http://www.irs.gov/pub/irs-pdf/i1042s.pdf

Note Publication 515 Withholding on Tax on Nonresident Aliens and Foreign Entities has not been updated of this writing.Entities http://www.irs.gov/pub/irs-pdf/p515.pdf 

www.irs.gov/fatca

Excerpt from the IRS re: What's New

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