What is a 1042-S form? (US options and futures)
US options (tastytrade) accounts:
If you're a non-US tax resident and have traded options in the past calendar year (where the underlying was incorporated in the US), Apex will email you a copy of your 1042-S form.
This form details any income sourced from the United States on your trades, like dividends from American stocks. Since this income is subject to US withholding tax, Apex submits the form to the IRS (US tax authorities) according to US tax regulations.
For detailed guidance on using the form for your personal tax returns, please consult your tax advisor.
US futures (tastytrade) accounts:
If you're a non-US tax resident and have traded futures in the past calendar year, you won't get a 1042-S form because, given the nature of the product, there aren't any divided adjustments. This means a 1042-S isn't required.
CFD trading and spread betting accounts:
We have an arrangement with the IRS that exempts us from issuing the 1042-S form individually. So, you won't receive this form from us.
