Why did I receive a new 1042-S form for Tax Year 2025?

You may have received a new (reissued) Form 1042-S for Tax Year 2025 even though you already received a copy earlier. This article explains why a new form was issued, what changed, and whether you need to take any further action.

What happened?

We identified an issue that affected how certain Chapter 3 and Chapter 4 status codes were printed on some recipient copies of Form 1042--S for Tax Year 2025.

Specifically, the issue involved how status code information was mapped to the printed recipient form. While the data entered and the information filed with the IRS was correct, some recipient copies displayed incorrect values in specific boxes. Data for box 12b (Withholding Agent Ch. 3 Status Code) was printed in box 13f (Recipient Ch. 3 Status Code) and box 12c (Withholding Agent Ch. 4 Status Code) was printed in box 13g (Recipient Ch. 4 Status Code).

Additionally, a truncation issue in Boxes 5 and 6 (Withholding Allowance and Net Income, respectively) caused the last digit of printed values in those fields to be dropped, resulting in amounts that appeared shorter than what was actually reported.

Once the issue was identified, printing was paused and the form template was corrected.

What was affected?

· Only recipient copies of Form 1042-S were -impacted

· The issue involved Chapter 3 and Chapter 4 status code fields

· A truncation issue in Boxes 5 and 6 caused the last digit of printed values to be dropped

Why did I receive a new form?

You received a new Form 1042-S because one or more of your originally printed recipient copies may have contained- incorrect status code information due to the mapping issue.

To ensure accuracy and compliance, we re-issued recipient copies so that:

· The information on your form matches what was filed with the IRS; and

· You have a complete and accurate copy for your records.

What changed on the new form?

The reissued form corrects the box 12b and 12c codes as well as the 13f and 13g codes shown on the recipient copy. Additionally, the truncation issue affecting Boxes 5 and 6 has been corrected, ensuring the last digit of those values now prints correctly.

No other information on the form was changed.

Do I need to take any action?

For most recipients:

· No immediate action is required

· Keep the most recent version of the form for your records

· If you are working with a tax preparer, provide them with the reissued copy and consult with them to determine whether any additional action is needed regarding your personal return

If you have already used the original form to prepare your personal tax return, share the corrected copy with your tax preparer so they can advise whether any follow up- is needed.

Was the IRS filing impacted?

No. The issue was limited to how certain fields appeared on the printed recipient copy. The information filed with the IRS was not impacted by this printing issue.

Will I be charged for the reissued form?

No. Re-issued recipient copies are provided at no cost.