We identified two separate issues affecting 1042-S forms processed through our print and mail service. First, data intended for Box 12b (Withholding Agent Ch. 3 Status Code) was incorrectly mapped and printed in Box 13f (Recipient Ch. 3 Status Code), and data intended for Box 12c (Withholding Agent Ch. 4 Status Code) was incorrectly mapped and printed in Box 13g (Recipient Ch. 4 Status Code). Second, values in Box 5 (Withholding Allowance) and Box 6 (Net Income) were truncated on printed forms, with the last digit of each value dropped.
We want to be clear that this issue was limited exclusively to the printed and mailed recipient copies of the form. Your electronic filings submitted to the IRS were not impacted and contain accurate data. No corrected filings with the IRS are required as a result of this issue. Online views and downloadable PDF’s generated directly from the system reflect the correct data.
Both problems have been identified and fully resolved. Affected forms will be reprinted and sent to recipients.
There is nothing you need to do at this time. If you would like, you may proactively share the following Help article with your recipients: 1099PRO 1042-S Reprint Help Article.
Any further updates or additional FAQ’s will be added here.
If you need assistance, please contact the Service Bureau team at SB@1099pro.com. If you have a Sovos Login set up, you can also access support through the Support Portal: https://sovos.com/support/