Regulatory Updates

2022 IRS Form 1042-S Released

The IRS has posted the 2022 tax year version of Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. Form 1042-S is used by IRA custodians, trustees, and issuers to report payments to nonresident aliens, including distributions from IRAs and employer-sponsored retirement plans. There are no noteworthy changes from the 2021 form to report.

Regulatory Updates

Proposed Enhanced Disclosures About ESG Investment Practices

Proposed Enhanced Disclosures About ESG Investment Practices

The SEC has issued a proposed rule that would add reporting requirements for registered investment advisors, registered investment companies, certain advisers that are exempt from registration, and business development companies.