The 411 on 1042 before you call 911

By Ann Lehew posted 12-04-2019 08:59 AM


Is it January again already?

Remember when your Accounts Payable department only had to worry about filing 1099’s in January?  Those days are over!  Many organizations are now having to deal more and more with non-resident alien reporting on IRS Form 1042-S.

At our last Alliance Conference, we heard about challenges many of you are facing with complying with this requirement.  How are you approaching it?  What is working/not working?  Are there other reporting requirements for your state?  Let’s share!

As your Finance Advisory Group, we would like to also recommend a presentation our colleagues at UNC-Chapel Hill gave in Orlando.  The title is “With-Hold Up! Don't throw your hands in the air!” presented by Ann Lehew and Janet Rupert.  This session details how UNC at Chapel Hill uses PeopleSoft delivered withholding functionality to record and process withholding payments for both North Carolina Department of Revenue NC-1099PS and United States IRS Form 1042-S.  You can view the slides and hear the recording at this link:

After viewing, please post your questions and comments here. 

Don’t forget Alliance 2020 in Philadelphia is approximately 3 months away! Don’t forget to register by January 10 to get the Early Bird Registration discount! See you at Alliance 2020!

PS.  Did you know that if you can’t make it to Alliance you can listen to sessions afterwards? The HEUG provides audio recordings and copies of the presentations for HEUG members to view. You may find prior conference sessions for download by logging into the HEUG website then clicking on Conferences, and then selecting Past and Future Conferences. You can then click on the Alliance conference Download Presentations Button to view available sessions.