This article contains instructions how to make changes to a tax year after it has been finalized and locked.
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Changes to settings
If you need to make changes to your settings you'll need to unlock the tax year. To do that:
a. Login to your Calculus account.
b. Head to User (or Vendor) List.
c. Click on the Unlock button and confirm
Once you have made the necessary changes you can finalize the year again and regenerate/refresh the 1042-S forms, if needed.
Changes to user/vendor personal data
a. You can unlock the particular profile(s) that need to be updated.
Please, check Lock or Unlock User Accounts.
Once profile(s) are unlocked the foreign nationals can login and update their information or administrators can import the updated data. After the necessary changes are made the profiles can be locked again and 1042-S forms regenerated/refreshed, if needed.
b. You can unlock the whole tax year and with that all accounts will be unlocked.
Once profile(s) are unlocked the foreign nationals can login and update their information or administrators can import the updated data. After the necessary changes are made the profiles can be locked again and 1042-S forms regenerated/refreshed, if needed.
Important: Unlocked accounts or unlocked tax year hides recipient 1042-S copies from foreign nationals' profiles. If you only need to make updated to one account, we suggest unlocking that account only so the 1042-S forms are still present in the rest locked accounts.
3. Change in 1042-S data
a. 1042-S forms generated through Payments Entry Module (PEM)
When the tax year has been finalized, but you need to make changes to financial data, please first unlock the account(s) and then you will be able to manually change the payments for the foreign national(s), add missing payments or import them.
After you have added/edited the financial data, lock the account again and regenerate the foreign national's 1042-S forms to update them.
b. Imported 1042-S data
You do not need to unlock the foreign nationals' profiles to correct 1042-S data. There's 2 ways to correct 1042-S data:
- Import the corrected 1042-S file for the foreign national(s) you need to update and re-generate the updated 1042-S forms.
- Correct a 1042-S form directly from the Correct button under Actions. For more information, please visit 1042-S List Actions Tab Overview.
Important: You need to only import correct data for the forms you wish to update and re-generate these particular 1042-S forms only.
Correcting information on 1042-S forms after they have been filed with the IRS
If you correct a 1042-S form that has already been filed with the IRS, regardless if it is personal or financial information, the form may need to be amended and filed with the IRS again.
Most common amendments to 1042-S forms:
- Corrections to recipient's personal information (name, U.S, TIN, etc.)
- Corrections to the amounts reported (income code, amounts, tax rate, etc.)
- Corrections to a 1042-S form to remove the income and tax, if any, reported (when a 1042-S form has been issued to a foreign national in error)
Correcting a 1042-S form when using PEM:
Please, unlock the accounts that need correcting make the necessary changes to the personal or financial data, lock the accounts back and regenerate/refresh the corrected 1042-S forms. After the information has been corrected on the 1042-S forms, please, reach out to your Sprintax Representative to mark the forms as amended.
Correcting a 1042-S form when you have imported the data:
- Correcting personal data
a. Unlock the account(s) and make the corrections to personal data.
b. Lock back the account(s).
c. Prepare a 1042-S import with the exact same information for the foreign nationals' 1042-S form you need to amend, but add "1" to columns Is the current version amendment and The current number of amendment. This will mark the 1042-S form as amended.
d. Regenerate the 1042-S forms you have corrected.
2. Correcting financial data
a. Prepare a 1042-S import with the correct information for the foreign nationals' you need to amend and add "1" to columns Is the current version amendment and The current number of amendment. This will mark the 1042-S form as amended and update the changes to the income code, amounts, tax rate, etc.
b. Regenerate the 1042-S forms you have corrected.
Important: Make sure you have the exact UFI (Unique Form Identifier) in your subsequent 1042-S import for the forms you wish to correct. If UFI is not present in the subsequent import to correct existing 1042-S forms, it will not update the forms already generated, but will create new 1042-S forms instead.
Amending a 1042-S form when it was issued in error
When a 1042-S form has been issued in error to a foreign national and has already been filed with the IRS, the form needs to be amended, instead of just deleted. Please, reach out to your Sprintax representative for assistance.
Amending TXT file
Please, reach out to your Sprintax representative for assistance with preparing an amended TXT file.