July 01, 2026

Non-U.S. Payment Form 1042 Compliance Risks

17 minutes

As colleges and universities navigate increasingly complex reporting obligations for payments made to non-U.S. persons, having the right processes in place is critical. From filing requirements and deposit deadlines to documentation and reconciliation, institutions must take a coordinated approach to Form 1042 compliance.

In part two of this series, Melanie McPeak, Managing Director and Tax Leader of the Firm’s Not-for-Profit industry practice, is joined again by Tahira Nagda, Managing Director and Compliance & Provision Lead in Cherry Bekaert’s International Tax practice. Together, they discuss reporting requirements and practical considerations surrounding Form 1042 compliance for payments made to non-U.S. individuals, including students, scholars and other foreign payees.

Listen to learn about:

Key filing deadlines and deposit obligations
Common compliance mistakes and audit triggers
Reconciliation and documentation considerations
Coordination across departments involved in the compliance process
Process considerations that can help reduce risk
Why Form 1042 compliance extends beyond tax

Cherry Bekaert’s Not-for-Profit and International Tax teams help higher education institutions navigate complex withholding and reporting obligations while strengthening compliance processes. For additional guidance or support, connect with your Cherry Bekaert advisor or reach out to our team.

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