This program focuses on enforcing compliance through both examinations and taxpayer voluntary disclosure of withholding tax on foreign payments. Program responsibilities include coordinating and training exam teams, consulting with internal and externals stakeholders, and ensuring consistent treatment for all taxpayers. Program members assist the Withholding on Foreign Payments IMT by providing expertise in current industry policies and procedures, identifying potential weaknesses in taxpayer systems and addressing numerous withholding issues. U.S. Withholding Agent Examination, Form 1042 - The IRS has issued an Internal Revenue Manual section, on reporting and withholding requirements for U.S. source income that's paid to foreign persons. IRM 4.10.21 U.S. Withholding Agent Frequently Asked Questions Contain questions and answers which were prepared in response to inquiries that have been proposed to the IRS by U.S. withholding agents, major corporations and multi-national companies outside of the financial service community. Form Bank - Withholding Related Forms Qualified Intermediaries (QI) A Qualified Intermediary (QI) is any foreign intermediary (or foreign branch of a U.S. intermediary) that has entered into a qualified intermediary withholding agreement with the IRS. A QI is entitled to certain simplified withholding and reporting rules.