Processing and Filing Corrected 1042-S Returns

Correct the 1042-S print information.
Correct the 1042-S filing information.
Prepare a corrected 1042-S data file.
Download the corrected 1042-S data file for filing through the IRS' FIRE system.

Correcting 1042-S Print Information

Complete the following to mark the Form 1042-S as amended:
Access the
Form 1042-S Recipient Information
collapsible section on the Recipient Detail page for the recipient you need to process an amended Form 1042-S for.
Select
Amended
from the
Type of 1042-S (for printed form only)
drop-down list.
Enter the amended date you want to print on the amended form in the
Date of 1042-S (for printed form only)
field.
Enter a one digit numeric value in the
Amendment Number (use when Type is set to Amended)
field.
Select
Save
.
Correct the source data. This includes the basic recipient information, recipient income information, withholding agent information, and NQI or payer information.
Process the 1042-S tax return.

Correcting 1042-S Filing Information

Open the account.
Select the
Recipients
main topic then the
Form 1042-S NQI and Filing Information
subtopic.
Select the recipient's
Taxpayer ID
link under the
Recipient Summary
collapsible section.
The Form 1042-S Filing Detail page displays and shows the original 1042-S filing data for the recipient. Changing the information on this page turns the background of the changed field to yellow to indicate the information was corrected, and creates corrections records.
Use the
Recipient Information
collapsible section to correct basic recipient information.
The date and time the original IRS data file was created is displayed in the
Date Recipient Last Filed
field. After you save your corrections, the date is cleared until the next 1042-S data file is prepared. You cannot correct the information in the
Withholding Agent Information
collapsible section after the initial return is filed. This includes making changes to the withholding agent the account should be filed under.
Use the
NQI and Payer Information
section to correct NQI or payer information. After the initial return
Use the
1042-S Income Information
collapsible section to correct the recipient's income information. If you need to add income information, enter the information in the row that includes the text, "Please select here to add new row," then press TAB until the income item is added to the grid.
After saving your corrections, the
Return Type
column indicates that the income will be included in a corrected 1042-S data file. The
Return Type
column is the last column in the grid.
Select
Save
.

Add the NRA recipient to the account.
Add the NRA recipient to the 1042-S filing information by completing the following:
Access the 1042-S NQI and Filing Information page by selecting the
Recipients
main topic then the
Form 1042-S NQI and Filing Information
subtopic.
Under the
Recipient Summary
collapsible section, select the NRA recipient you want to add from the
Add 1042-S Recipient
drop-down list.
Select
Add
. The new NRA recipient is now listed in the grid under the Recipient Summary collapsible section, and the selection in the
Add 1042-S Recipient
drop-down list is
ADDED AFTER 1042-S FILING
.
Add the 1042-S filing information for the new NRA recipient by selecting the
Taxpayer ID
link. When you finish adding the information, select
Save
.

Preparing a Corrected 1042-S Data File

Select
HOME
,
Admin
then
Prepare 1042-S
.
Review the fields under the
Filing Summary
collapsible section to ensure they are correct. The
Total Recipient Records
field shows the total number of income records for all recipients (Q records in the 1042-S data file), not the total number of recipients. If the
Original Summary Information
fields show totals but you do not want to create an original 1042-S data file at this time, clear the
File Original
check box.
Select
Submit Request
. Your request to prepare the corrected 1042-S data file is submitted.
After the corrected 1042-S data file is created, it is available for download in the
Folder: Electronic Filing-1042-S Filing Review
category on the Documents and Data Files page.

Downloading a Corrected 1042-S Data File for Filing through the IRS' FIRE System

Select
HOME
,
Admin
then
Documents and Data Files
.
Open the
Folder: Electronic Filing-1042-S Filing Review
category for the tax year.
Select the
File Name
link for the 1042-S data file you want to download. An informational message displays.
Select OK. A message asking if you want to open or save the file displays.
Select the down arrow to the right of
Save
then
Save as
. The Save As window displays and allows you to save the file where you want to save it and with the file name you want to save it as. You are responsible for electronically filing the corrected 1042-S data file through the IRS' FIRE system. ONESOURCE Trust Tax does not file 1042-S data files for you.