Form 945 (2024) Tax Year-Specific Checklist
Purpose
Form 945, the Annual Return of Withheld Federal Income Tax, is used to report federal income tax withheld from non-payroll payments during the 2024 calendar year. Covered expenses include pensions, annuities, individual retirement accounts, retirement pay, military retirement funds connected to the Armed Forces, gambling winnings reported on Form W-2G, Indian gaming profits, and backup withholding reported through Form 1099.
Form 945 does not apply to wages. Federal income tax withheld from wages must be reported on Form 941, Form 943, Form 944, Schedule H, or other applicable IRS forms. For 2024, the $ 2,500 threshold remains central in determining deposit obligations, monthly liability reporting, and whether payment with the return is allowed, as outlined in Publication 15.
Employer Identification Number and entity details
Verify EIN accuracy
Enter your Employer Identification Number at the top of Form 945 exactly as assigned by the Internal Revenue Service. The EIN must match IRS records under Section 6109, including the payer name and address, to avoid processing delays or compliance notices.
If you applied for an EIN but did not receive it by the due date, write “Applied For” and include the application date. In that situation, paper filing is required, and you must not substitute a Social Security number or ITIN. New EINs are requested using Form SS-4.
Reporting withheld federal income tax
Line 1 federal income tax withheld
Line 1 reports withheld federal income tax from non-payroll payments made during 2024. This includes withholding from pensions and retirement plans such as section 401(k), section 403(b), and governmental section 457(b) plans, as well as IRA distributions, retirement pay, military retirement, gambling winnings subject to regular withholding, and Alaska Native Corporation distributions where voluntary withholding applied.
Amounts reported on Line 1 should reconcile to Forms 1099 issued for the year, including Form 1099-MISC when applicable. Wage withholding and amounts reported on Form W-2 must not be included on this line.
Line 2 backup withholding
Line 2 reports backup withholding collected during 2024 on reportable payments. Backup withholding applies when payees fail to provide a valid taxpayer identification number or when withholding is required following IRS notices described in Publication 1281.
This line may include backup withholding on dividends, interest, nonemployee compensation reported on Form 1099-NEC, gambling winnings, and certain payments to H-2A visa workers. Only current-year backup withholding should be reported on Line 2; prior-year corrections must be handled using Form 945-X.
Line 3 total tax liability
Add Lines 1 and 2 to calculate Line 3, which represents your total tax liability for the 2024 tax year. This amount determines whether you must report monthly liabilities or file Form 945-A.
If Line 3 is less than 2,500, you do not complete Line 7 or Form 945-A. If Line 3 is 2,500 or more, the total must reconcile exactly to either Line 7M or Form 945-A Line M, depending on your depositor status.
Depositor status and liability reporting
Determine depositor status
Your deposit schedule for 2024 is based on your 2023 Form 945, Line 3. If that amount was 50,000 or less, you are classified as a monthly depositor. If it exceeded 50,000, you are a semiweekly schedule depositor.
These rules apply only to nonpayroll taxes reported on Form 945 and are outlined in Publication 15 and Publication 15-A. They do not follow the same lookback rules used for employment tax returns that report wages.
When Form 945-A is required
Form 945-A is required if you were a semiweekly depositor at any point during 2024. It is also necessary if you began the year as a monthly depositor but accumulated 100,000 or more of tax liability on any single day, which immediately converts you to semiweekly status.
When Form 945-A is required, do not complete Line 7 on Form 945. Instead, check the semiweekly depositor box and attach Form 945-A to report liability.
How Form 945-A reports liability
Form 945-A reports tax liability by the date non-payroll payments were made, not by the deposit date. It includes daily entries, monthly subtotals, and a Line M total for the year.
The Line M total on Form 945-A must equal Line 3 on Form 945. If your net tax liability is under $2,500, Form 945-A is not required even if deposits were made.
Completing Line 7 monthly summary
Line 7 is completed only if you were a monthly depositor for the entire year, and Line 3 is 2,500 or more. Enter monthly liabilities for January through December based on when payments occurred.
The total on Line 7M must equal the total on Line 3 exactly. If you became a semiweekly depositor at any time during the year, stop using Line 7 and file Form 945-A instead.
Deposits, payments, and reconciliation
Line 4 total deposits
Line 4 includes all federal tax deposits made during 2024 through electronic funds transfer methods. This includes deposits made using the Electronic Federal Tax Payment System, IRS Direct Pay, or your IRS Business Tax Account.
Line 4 also includes overpayments applied from a prior-year Form 945 or credits from Form 945-X filed during the year. Do not include payments made with the return itself on this line.
Balance due or overpayment
If Line 3 exceeds Line 4, the difference is reported as a balance due on Line 5. If Line 4 exceeds Line 3, the difference is reported as an overpayment on Line 6.
A balance due is generally allowed only when the total tax is under $2,500 or when limited payment rules apply. If Line 3 is 2,500 or more, a balance due may indicate missed deposits and can result in interest charges.
Using Form 945-V
Form 945-V is used only when payment with the return is permitted, and you are paying by check or money order. This generally applies when the total tax is under $2,500 or when a monthly depositor qualifies under the accuracy rules in Publication 15.
Form 945-V requires your Employer Identification Number, payment amount, and payer information. Checks must include the correct account number and be payable to the United States Treasury. Do not staple the voucher or payment to Form 945.
If you pay electronically using Electronic Balance Due Payments or EFTPS, omit Form 945-V. Electronic filing and payment options are encouraged for faster processing.
Signatures, preparers, and authorizations
Signature requirements
Form 945 must be signed under penalties of perjury in accordance with the Paperwork Reduction Act and the OMB control number instructions. The signer must be authorized for the entity type filing the return.
Paper filing requires a handwritten signature, while electronic filing through the IRS e-file system allows a digital signature workflow. The signature date must be on or before the due date.
Paid preparer information
If a paid preparer completed the return, the preparer must complete the Paid Preparer Use Only section. This includes the Preparer Tax Identification Number, firm information, and signature.
Preparers obtain or maintain their PTIN using Form W-12. Reporting agents with valid authorizations may have different signature requirements under IRS rules.
Third-party designee
You may authorize a Third-Party Designee to discuss the return with the IRS by completing that section on Form 945. This authorization allows limited communication about processing issues and expires one year after the due date.
The designation does not allow representation before the Department of Justice or permit the designee to bind you to additional tax liability.
Filing deadline and corrections
Filing deadline for 2024
Form 945 for the 2024 tax year is due by January 31, 2025. If all federal tax deposits were made on time and in full, the filing deadline would extend to February 10, 2025.
You may file electronically using the IRS Modernized e-File system or mail a paper return to the address listed in the Instructions for Form 945. Retain a copy of the completed return for your records.
Correcting errors
Use Form 945-X to correct a previously filed Form 945. This is the proper correction method rather than using Form 843.
Before amending, reconcile Forms 1099, Form W-2G totals, EFTPS deposit history, and reported liabilities to ensure the amended return is consistent and complete.
Year-specific regulatory notes for 2024
The 2,500 threshold remains unchanged for 2024, and the backup withholding rate continues at 24 percent. Payment-with-return relief is limited and does not replace deposit requirements when the threshold is exceeded.
Maintaining accurate records across Form 945, Form 945-A, Forms 1099, and electronic deposit confirmations is the most effective way to avoid compliance issues, notices, and interest charges for the 2024 tax year.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
