If the information reported in IRS Form 1042-S is no longer correct the QI must correct this information by filing an amended Form 1042-S with the IRS.

Follow the Form 1042-S instructions to amending the form. In case the amendment related to the amount of income paid you generally can make the necessary changes and submit the amendment. In case the amendment regards the recipient, for instance an incorrect recipient, a two-step amendment will be required. First, prepare a Form 1042-S identical to the original (incorrect) form that shows "0" income and withholding. The second step requires the issuance of a new Form 1042-S in the name of the correct recipient.