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1042-S reporting to foreign shipping supplier
November 30, 2022
Q. Is Form 1042-S reporting required if payment is made to a foreign supplier who provides shipping services via ocean freight and whose country (Singapore) does not have a shipping agreement similar to IRC Code § 883 or a tax treaty with the U.S.? If Form 1042-S is not required for this situation, can you provide the explanation and code/regulation as to why Form 1042-S would not be required?
A.
(Answered by IOFM's third-party tax experts)
There are special regulations for that type of ocean…
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