Tax & Legal

Reconciliation Data Cruncher

Mastering the Role of a Qualified Intermediary

The Reconciliation of 1042-S Forms are the IRS' Focus for the Upcoming Certifications

The Qualified Intermediary (QI) Agreement is concluded between the Internal Revenue Service (IRS) and non-U.S. banks. It includes, in particular, provisions for customer documentation and for the withholding and payment of U.S. withholding tax due on income from U.S. securities. 


Data Extraction

The contents of the reports are extracted by the software and converted into a machine-readable format. Typing out the forms is no longer necessary, simple transmission errors are avoided and you and your employees can concentrate on other tasks.

Plausibility Checks

By reading out all available data fields and performing over 50 plausibility checks per form, we support you beyond the mathematical reconciliation required as a minimum to uncover and challenge inconsistencies.

1042-S Check

Automatic aggregation and reconciliation of the received and issued reportable amounts/taxes withheld form the minimum reconciliation required by the IRS for each year of the certification period. Based on experience developed over years, identified differences are classified and prioritized in order to perform the subsequent detailed analysis in a targeted and efficient manner.


Our solution comes with a customizable letter text for the QI certification to the IRS and a total extract of the used data.



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