(International) What is a 1042-S form?

Note: Symphonic is not a legal or tax authority. We do not give legal or tax advice. Symphonic simply reports and provides information as per what we've been instructed to. Please consult a tax professional or legal authority for advice and direction.
At the end of every calendar year and by the end of Q1 of the new year, Symphonic will send you a 1042-S form. This form is the equivalent of receiving a 1099-MISC form in the USA for USA recipients.

This is a form that summarizes all of the payments and/or withholding that have been made for the calendar year. This form can be used for you to file your taxes within your country and potentially get any withholding that have been made, if they apply.

This form does not state any funds that you owe us and is standard practice for USA companies to foreign individuals. Please consult a local accountant as we're unable to give tax advice in regard to specific countries.

Example:
If we paid you royalties from January 1 to December 31 in 2018, you will receive a form that shows the amount we've paid. This form may also show withholding due to a tax treaty that decreases the amount that you would be taxed and/or it shows a complete amount of withholding. This is money you can potentially re-receive but, you'd have to discuss with your local tax accountant / officials.

Official USA IRS explanation.
Form 1042-S is used to report amounts paid to foreign persons (including persons presumed to be foreign) that are subject to income tax withholding, even if no amount is deducted and withheld from the payment because of a treaty or exception to taxation, or if any amount withheld was repaid to the payee.
 

Will I always get a 1042-S every year?

You will only receive a 1042-S form if we have your details on file and if we paid any royalties out to you during a complete calendar year. If you do not receive a 1042-S form it is because potentially, you may had not made any revenue during the calendar year that pertains to the 1042-S form that we would send.

When will I receive my annual 1042-S tax form?

1042-S forms are sent to Non-U.S. based entities no later than March 15th following the end of each calendar year. Please be sure to keep your mailing address up to date in your Symphonic profile to avoid any delays in receiving your tax forms.

My 1042-S is incorrect, what do I do?

If you have received a 1042-S and the dollar amount is incorrect or the name, EIN, or Social Security is incorrect, please let us know and we can file a correction. This may happen from time to time and is not a difficult process to correct thus, no worries if it occurs.

Will you keep copies of my 1042-S?

We will retain copies of a 1042-S form for the period of one year in the event that you lose and/or do not originally receive this form. In most cases, the 1042-S will be sent digitally and/or uploaded to your SymphonicMS login.

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