If your non-US business is receiving US-source income for its own behalf or on behalf of clients or investors, you likely have annual tax filing obligations with the US tax authority, the IRS. Failure to complete these tax filings could result in significant penalties from the IRS, including (but not limited to) interest and fees owed on any unpaid or unreported taxes. No matter the type of financial institution your business is, Summit can assist you with your US tax filing needs. Our Hong Kong- and New York-based tax filing team has years of experience in completing submissions of Forms 1042-S, 1042, 1099, and 945 on time and in compliance with the latest IRS rules. Wherever your business is based, Summit will help you meet those deadlines.

Summit offers the following services for our clients interested in US tax filing:

1. Internal books and records review, compliance analysis, and basic personnel training
2. Form 1042-S reporting, electronic filing, amendments, correspondence with tax authorities and related activities
3. Form 1042 preparation, reporting, electronic filing and follow-ups
4. Analysis of US client accounts, reporting requirement review, U.S. custodians consultations, exemption reporting handling, and internal processing recommendations
5. Form 1099 preparation, reporting, electronic filing and follow-ups
6. On-site, telephone and email support from our Hong Kong- and New York-based teams