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Form 1042-S Due Date for 2025
Charles Hardy | Last Updated: March 11, 2025
The Deadline to File Form 1042-S is March 17, 2025. Start Filing Now!
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Form 1042-S is used to report U.S.-sourced income paid to foreign individuals or entities subject to withholding tax. It’s important for withholding agents to file Form 1042-S with the IRS on time. To remain IRS-compliant, ensure the timely and accurate filing of Form 1042-S.
When is the Due Date for filing Form 1042-S for the 2024 tax year?
Generally, the due date for filing Form 1042-S with the IRS is March 15th of the calendar year the income was paid. If March 15th falls on a weekend or legal holiday, the due date is the next business day.
For the 2024 tax year, the due date to file Form 1042-S is March 17, 2025.
What Are the Penalties for Late Filing of Form 1042-S?
The penalty for late filing Form 1042-S depends on the size of the business and the timing of the submission. Below are the potential penalties for late filing with the IRS:
| Timeframe | Penalty per Form | Maximum Penalty per Year |
|---|---|---|
| Filed within 30 days after the due date | $60 | $683,000 per year($239,000 for a small business) |
| Filed after 30 days but by August 1 |
$130 |
$2,049,000 per year ($683,000 for a small business) |
| Filed after August 1 or not filed at all |
$330 |
$4,098,500 per year ($1,366,000 for a small business) |
- If a form is intentionally disregarded or a correct payee statement is not provided, the penalty is $660 per form with no maximum limit.
Failure to File Electronically
If you are required to file electronically but fail to do so without an approved waiver, penalties may apply unless you can demonstrate a reasonable cause for not filing electronically.
Is There an Extension Available for Form 1042-S Deadline?
Yes! If you need more time to file your 1042-S forms, you can request an extension from the IRS using Form 8809. This extension is automatic, which means the IRS doesn’t require you to provide any explanation for requesting more time. Upon acceptance of 8809, you’ll be granted a 30-day extension, provided that Form 8809 is filed on or before the original due date of March 15th.
However, it's important to note that this extension applies only to the filing deadline - any taxes owed must still be paid by March 15th to avoid penalties and interest.
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