Search all codes at once in the Form 1042-S code finder. Every explanation below is our summary of the IRS instructions and the rule each code points to.
Not sure which status an entity is? The W-8BEN-E status finder walks through line 5, and the FATCA guide for payers explains which statuses mean withholding.
Withholding agent codes
For your own status in box 12c. A U.S. business that is not a financial institution enters 02.
01U.S. withholding agent, FI
Withholding agent status for a U.S. financial institution, entered in box 12c. A foreign branch of a U.S. financial institution uses 50.
Source: Instructions for Form 1042-S (2026), box 12c
02U.S. withholding agent, other
Withholding agent status for any other U.S. withholding agent, such as an ordinary U.S. business paying a foreign vendor.
Source: Instructions for Form 1042-S (2026), box 12c
50U.S. withholding agent, foreign branch of FI
Withholding agent status for a foreign branch of a U.S. financial institution that issues the Form 1042-S.
Source: Instructions for Form 1042-S (2026), box 12c
Recipient and intermediary codes
03Territory FI, not treated as U.S. person
A financial institution organized in a U.S. territory that is not treated as a U.S. person.
Source: Instructions for Form 1042-S (2026), definitions; Instructions for Form W-8BEN-E, Part XVII
04Territory FI, treated as U.S. person
A U.S. territory financial institution that agreed on Form W-8IMY to be treated as a U.S. person.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
05Participating FFI, other
A participating FFI: a foreign financial institution that signed an FFI agreement with the IRS. It has a GIIN. An FFI in a country with an intergovernmental agreement checks a reporting Model 1 or Model 2 box instead.
Source: Instructions for Form 1042-S (2026), definitions; Instructions for Form W-8BEN-E, line 5
06Participating FFI, reporting Model 2 FFI
A reporting Model 2 FFI: an FFI in a country with a Model 2 intergovernmental agreement, treated as a participating FFI. It reports directly to the IRS and has a GIIN.
Source: Instructions for Form W-8BEN-E, line 5; Instructions for Form 1042-S (2026), definitions
07Registered deemed-compliant FFI, reporting Model 1 FFI
A reporting Model 1 FFI: an FFI in a country with a Model 1 intergovernmental agreement, which reports to its own tax authority. It is treated as registered deemed-compliant and has a GIIN.
Source: Instructions for Form W-8BEN-E, line 5; Instructions for Form 1042-S (2026), definitions
08Registered deemed-compliant FFI, sponsored entity
A sponsored FFI: an investment entity or controlled foreign corporation whose sponsor performs its FATCA duties. It is registered deemed-compliant, gives its own GIIN, and names the sponsor in Part IV of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part IV
09Registered deemed-compliant FFI, other
Any other registered deemed-compliant FFI: one that is deemed to comply with FATCA without an FFI agreement but must register and hold a GIIN.
Source: Instructions for Form 1042-S (2026), definitions; Treas. Reg. 1.1471-5(f)(1)
10Certified deemed-compliant FFI, other
Other certified deemed-compliant FFIs, which certify their status instead of registering, such as a limited life debt investment entity (Part VIII). A restricted distributor (Part XI) is also reported under 10.
Source: Instructions for Form W-8BEN-E, Parts VIII and XI; Instructions for Form 1042-S (2026), boxes 13j and 13k
11Certified deemed-compliant FFI, FFI with low value accounts
A certified deemed-compliant FFI with only low-value accounts, certified in Part VI of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part VI
12Certified deemed-compliant FFI, nonregistering local bank
A certified deemed-compliant nonregistering local bank, certified in Part V of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part V
13Certified deemed-compliant FFI, sponsored entity
A certified deemed-compliant sponsored, closely held investment vehicle, which names its sponsor and gives the sponsor's GIIN in Part VII of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part VII
14Certified deemed-compliant FFI, investment entity that does not maintain financial accounts
An investment entity that is a financial institution only because of how it invests, and that does not maintain financial accounts. It certifies this in Part IX of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part IX
15Nonparticipating FFI
A nonparticipating FFI: a foreign financial institution that is not participating, deemed-compliant or an exempt beneficial owner. Withholdable payments to it are withheld at 30% under chapter 4, and a treaty does not reduce that. Use it only when reporting directly to the recipient.
Source: Instructions for Form 1042-S (2026), definitions and boxes 13j and 13k
16Owner-documented FFI
An owner-documented FFI: an FFI that documents its owners to a designated withholding agent instead of registering, certified in Part X of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part X; Treas. Reg. 1.1471-5(f)(3)
17U.S. branch, treated as U.S. person
A U.S. branch of an FFI treated as a U.S. person.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
18U.S. branch, not treated as U.S. person (reporting under section 1471)
A U.S. branch not treated as a U.S. person that certified it applies the rules of Treas. Reg. 1.1471-4(d)(2)(iii)(C) to avoid chapter 4 withholding. Used as the intermediary code in box 15c.
Source: Instructions for Form 1042-S (2026), boxes 15a to 15m
19Passive NFFE identifying substantial U.S. owners
A passive NFFE that identifies its substantial U.S. owners in Part XXIX of Form W-8BEN-E. No chapter 4 withholding applies, but the payer reports those owners on Form 8966.
Source: Instructions for Form W-8BEN-E, Parts XXVI and XXIX
20Passive NFFE with no substantial U.S. owners
A passive NFFE that certifies on line 40b of Form W-8BEN-E that it has no substantial U.S. owners.
Source: Instructions for Form W-8BEN-E, Part XXVI
21Publicly traded NFFE or affiliate of publicly traded NFFE
A publicly traded NFFE, or an NFFE in the same expanded affiliated group as a publicly traded entity, certified in Part XXIII of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part XXIII
22Active NFFE
An active NFFE: a non-financial company whose passive income is under 50% of its gross income and whose passive assets are under 50% of its assets, certified in Part XXV of Form W-8BEN-E. Most operating companies are active NFFEs.
Source: Instructions for Form W-8BEN-E, Part XXV; Treas. Reg. 1.1472-1(c)(1)(iv)
23Individual
An individual. Chapter 4 withholding does not apply to individuals.
Source: Instructions for Form 1042-S (2026), Appendix B; Publication 515
24Section 501(c) entities
A foreign organization claiming chapter 4 status as a section 501(c) organization, with an IRS determination letter or an opinion of U.S. counsel, in Part XXI of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part XXI
25Excepted territory NFFE
An excepted territory NFFE, certified in Part XXIV of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part XXIV; Treas. Reg. 1.1472-1(c)(1)(iii)
26Excepted NFFE, other
Other excepted NFFEs: nonfinancial group entities, start-ups, entities in liquidation or bankruptcy and nonprofit organizations (Parts XVIII to XX and XXII of Form W-8BEN-E). The instructions also use 26 for an NFFE treated as a U.S. person.
Source: Instructions for Form W-8BEN-E, Parts XVIII to XXII; Instructions for Form 1042-S (2026), boxes 13j and 13k
27Exempt beneficial owner
An exempt beneficial owner: a foreign government or central bank, an international organization, certain retirement funds, and others listed in Treas. Reg. 1.1471-6 (Parts XIII to XV of Form W-8BEN-E).
Source: Instructions for Form 1042-S (2026), definitions; Instructions for Form W-8BEN-E, Parts XIII to XV
28Entity wholly owned by exempt beneficial owners
An entity wholly owned by exempt beneficial owners, which documents its owners in Part XVI of Form W-8BEN-E.
Source: Instructions for Form W-8BEN-E, Part XVI
29Unknown recipient
Unknown recipient for chapter 4: no documentation was received from an intermediary or flow-through entity for a withholdable payment. Use it only with chapter 3 code 21, and report the intermediary in boxes 15a to 15m.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
30Recalcitrant account holder
A recalcitrant account holder: an account holder of a participating or registered deemed-compliant FFI that did not provide the documentation chapter 4 requires. Use it only when reporting directly to the recipient; pooled accounts use 42 to 46.
Source: Instructions for Form 1042-S (2026), definitions and boxes 13j and 13k
31Nonreporting IGA FFI
A nonreporting IGA FFI: an FFI treated as nonreporting under its country's intergovernmental agreement, certified in Part XII of Form W-8BEN-E with the IGA and Annex II category.
Source: Instructions for Form W-8BEN-E, Part XII
32Direct reporting NFFE
A direct reporting NFFE: an NFFE that reports its substantial U.S. owners directly to the IRS and has a GIIN.
Source: Instructions for Form W-8BEN-E, line 5 and line 9a
33U.S. reportable account
A U.S. reportable account under a Model 1 IGA whose holder cannot be in a U.S. payee pool because the payment is subject to chapter 3 withholding.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
34Nonconsenting U.S. account
A nonconsenting U.S. account under a Model 2 IGA, in the same situation as code 33.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
35Sponsored direct reporting NFFE
A sponsored direct reporting NFFE, which names its sponsor in Part XXVIII of Form W-8BEN-E and gives its own GIIN.
Source: Instructions for Form W-8BEN-E, Part XXVIII
36Excepted inter-affiliate FFI
An excepted inter-affiliate FFI, certified in Part XXVII of Form W-8BEN-E; it applies only to certain deposit accounts held with an affiliate.
Source: Instructions for Form W-8BEN-E, Part XXVII
37Undocumented preexisting obligation
An undocumented preexisting obligation: a payment made before the deadline for documenting the account, so the presumption rules did not yet apply.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
38U.S. branch, ECI presumption applied
A U.S. branch to which the effectively connected income presumption was applied.
Source: Instructions for Form 1042-S (2026), Appendix B
39Account holder of excluded financial account
An account excluded from the definition of financial account under Treas. Reg. 1.1471-5(b)(2) or Annex II of an IGA. The holder checks "Account that is not a financial account" on line 5 of Form W-8BEN-E.
Source: Instructions for Form 1042-S (2026), Appendix B note 15; Instructions for Form W-8BEN-E, line 5
40Passive NFFE reported by FFI
A passive NFFE whose account the FFI maintaining it has certified, on its withholding statement, that it reports as a U.S. account. The FFI's name and GIIN go in boxes 15d and 15e.
Source: Instructions for Form 1042-S (2026), Appendix B note 16
41NFFE subject to 1472 withholding
An NFFE that was withheld on under IRC 1472, reported as a specific recipient, unless it is treated as a recalcitrant account holder, which uses 30.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
Pooled reporting codes
Used for payments allocated, on an FFI or QI withholding statement, to a pool of recalcitrant account holders, nonparticipating FFIs or U.S. payees.
42Recalcitrant pool, no U.S. indicia
Pooled reporting of recalcitrant account holders with no U.S. indicia.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
43Recalcitrant pool, U.S. indicia
Pooled reporting of recalcitrant account holders with U.S. indicia.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
44Recalcitrant pool, dormant account
Pooled reporting of recalcitrant account holders with dormant accounts.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
45Recalcitrant pool, U.S. persons
Pooled reporting of recalcitrant account holders that are U.S. persons.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
46Recalcitrant pool, passive NFFEs
Pooled reporting of recalcitrant account holders that are passive NFFEs.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
47Nonparticipating FFI pool
Pooled reporting of payees that are nonparticipating FFIs.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
48U.S. payees pool
Pooled reporting of U.S. payees, used only when a participating or registered deemed-compliant FFI certified on Form W-8IMY that it may include them in a U.S. payee pool and allocated the payment to that pool.
Source: Instructions for Form 1042-S (2026), boxes 13j and 13k
49QI-recalcitrant pool, general
A single pool of recalcitrant account holders that a QI may give instead of separate pools. Used by a withholding agent reporting a payment to a QI for the QI's recalcitrant account holders.
Source: Instructions for Form 1042-S (2026), Appendix B note 17