US tax documents FAQ
You can find your US tax documents with these steps:
You may get multiple tax documents if any necessary corrections are applicable to your tax form from Robinhood.
If you received less than $0.50 in US-sourced income, you won’t receive a tax document. Non-US sourced dividends (paid by non-US companies) and most gross proceeds from sell trades are not reported on a Form 1042-S. If you were charged less than $0.50 in NRA (non-resident alien) withholding, you won’t see the withholding on your tax form.
Any transaction that results in US-sourced income or NRA withholding that is reportable to the IRS (Internal Revenue Service, the tax authority of the US) will generate a tax form. Examples of US-sourced income that is subject to IRS reporting are:
If you receive free stocks or receive any cash incentives, it will be reported as US-sourced income. These stock or cash rewards will be reported as other or miscellaneous income on form 1042-S and would be subject to 30% NRA withholding.
Robinhood Securities LLC (US entity) is required by IRS regulations to report any US-sourced income received by non-US persons. The IRS rules also require NRA withholding on certain US-sourced income received by non-US persons.
Robinhood U.K. Ltd (Robinhood UK) is a company registered in England and Wales (09908051) and is authorised and regulated by the Financial Conduct Authority (FRN: 823590). Robinhood UK onboards UK customers and has the lead customer relationship with UK customers in relation to their use of the Robinhood UK app and website. Robinhood UK introduces UK customers to Robinhood Securities, LLC for order routing, execution, clearing, settlement, arranging custody services and margin lending to eligible UK customers with margin accounts. Robinhood Securities, LLC is regulated in the US by the SEC and FINRA. Robinhood UK and Robinhood Securities, LLC are subsidiaries of Robinhood Markets, Inc.
Robinhood UK doesn’t provide tax advice. For specific questions, seek advice.