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Form 1042-S, box 13j
February 21, 2023
Q. Does a code need to be entered on Form 1042-S, box 13j if we are a Chapter 3 reporting entity?
A.
(Answered by IOFM's third-party tax experts)
If your institution accepted a foreign entity's claim of reduced federal income tax withholding under benefit of a tax treaty as claimed on Form W-8BEN-E, the entity had to have checked an LOB box on the W-8BEN-E (indicating it satisfies one of the LOB provisions in the treaty or else there's no LOB provision in the treaty). So Yes, if there was…
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