1042-S Trust Tax Form 1042-S trust software solutions for fiduciary reporting

1042-S Fiduciary Reporting

Confidence doesn’t happen by accident


ONESOURCE Trust Tax offers the most comprehensive trust tax compliance solution on the market. As part of this solution, our 1042-S trust software integrates seamlessly with existing accounting systems, internal systems, and third-party provider systems. Close relationships with trust accounting vendors who electronically transmit data help us bridge your data to Thomson Reuters each month.

Comprehensive software for 1042-S forms

Put our solutions to work for you and you’ll successfully automate your process and reduce compliance risk. Your 1042-S forms will have a letter including back-up detail for all income and expenses. Our software can also help create scenarios and comparisons.

Your clients will receive a complete form 1042-S software package that includes:

  • Expense Allocation Options
  • NRA Income Reallocation Factors
  • 1042-S Manual overrides
  • Recipient roll-up
  • Blended withholding rates
  • Automated formatting for FIRE system for 1042-S filings uploads
  • Correction filings through the FIRE system
  • Multiple QI reporting capability including Roll-up reporting
  • File Export for all data
  • Client customized reports of all components of data, processing and delivery
  • Multiple Client Reporting options
    • Standard 1042-S
    • Consolidated 1042-S
    • Direct Mail
    • Web Delivery through your own institutions website