1042-S International Students

In compliance with the IRS regulations, Truman State University withholds and remits payment for U.S Federal taxes for scholarships that cover room, board, meal plans, and other personal expenses for international, non-resident students.

The 14% withholding for U.S. Federal taxes is reflected on the student account in the semester to which it applies.  The taxable scholarship and withholding is reported on a form 1042-S in the year it was received.

The 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding form, is used to report amounts paid to foreign persons by a United States based institution or business.

What payments are reported on the 1042-S? 

Nonqualified scholarships for expenses other than tuition. This includes portions of your scholarships, fellowships, or assistantships that is applied towards refunds, housing and meal expenses. The portion applied to your tuition fees are not counted as income.