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Form 1042-S 

The US Internal Revenue Service (IRS) introduced new reporting requirements in 2013 for all US financial institutions. We must now report if you earn $10.00 or more in annual interest, also called dividends. 

This reporting applies to:

  • US taxpayers 
  • Non-US taxpayers who are residents of a country with which the US has a reciprocal tax information sharing agreement 

For non-US taxpayers, we report this information annually to the IRS using Form 1042-S. We also send you a copy of the form. The IRS does not require any action with this form. 

Learn more about the interest reporting rules (PDF) and when we are required to issue a Form 1042-S. 

If you are a US taxpayer and earned at least $10.00 in interest, we report this information to the IRS using Form 1099-INT. If you pay US taxes, include this form in your tax filing. We also use this form for members without a valid tax certification. 

You may receive both the 1099-INT and 1042-S in the same year. This may be because your tax status changed or your certification expired during the year. 

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