Any U.S. business that pays interest, dividends, royalties, or services income to foreign persons and withholds under chapters 3 or 4 becomes a withholding agent with a Form 1042 obligation. The return is calendar-year by design, so the deadline never moves: March 15.
Here is the extension picture — including the split between the 1042 itself and the 1042-S recipient statements, which travel on separate rails.
The deadline and the extension
Form 1042 is due "the 15th day of the 3rd month after the end of the calendar year" — March 15, every year, for every filer. Form 7004 with code 08 on line 1 provides the automatic extension, running 6 months to September 15.
As always, the extension is filing-only. The Form 1042 instructions state that "Form 7004 does not extend the time for payment of tax," and the 7004 instructions point 1042 filers to the deposit rules: chapter 3 and 4 withholding is deposited through EFTPS during the year as the liability accrues, not paid with an extended return.
The e-file mandate
Electronic filing of Form 1042 is required for withholding agents that are financial institutions, for agents required to file 10 or more information returns during the year, and for partnerships with more than 100 partners. For most institutional filers, paper Form 1042 is simply no longer an option — which makes the electronic extension trail (e-filed 7004, electronic acknowledgment) the natural companion.
Form 1042 vs. Forms 1042-S: two extension systems
The annual return and the recipient statements separate cleanly at extension time. Form 7004 code 08 extends only Form 1042 — the summary return. The Forms 1042-S furnished to recipients and filed with the IRS have their own extension vehicle, Form 8809 (Application for Extension of Time To File Information Returns), with its own rules and deadlines.
A withholding agent that files a 7004 and assumes its 1042-S batch is covered has extended half its obligation. Calendar both.
Deposit discipline is the real compliance risk here: the withholding was due throughout the year under the deposit schedule. An extension cures late paperwork, never late deposits.
Frequently asked questions
When is Form 1042 due?⌄
How do I extend Form 1042?⌄
Does the extension cover my Forms 1042-S too?⌄
Is Form 1042 required to be e-filed?⌄
Does extending Form 1042 delay paying the withholding?⌄
Related guides
More in Business Tax Extensions (Form 7004)
Official sources
Tax rules, rates and deadlines change — verify current requirements against the IRS sources above before acting. This guide is general information, not tax or legal advice.