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Missed Form 1042 Filing with No Withholding: Should You Still File?
July 9, 2025
Q. My team recently realized the 1042 form for TY 2021 and 2022 were not filed with the IRS. However, the 1042-S forms were filed by the deadline for both TY and no withholding was required for any of the NRA suppliers.
Should we file the 2021 and 2022 Form 1042 at this point? Is there a penalty for failure to file the 1042 when no tax was due? We are compliant with all 1042-S and 1042 filings for 2023 and 2024.
A.
(Answered by IOFM's third-party tax expert)
The safest thing to do would be to…
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