IRS Form 5472
Foreign-Owned U.S. LLC Reporting
- Form 5472 preparation for foreign-owned U.S. single-member LLCs
- Pro Forma Form 1120 required cover page for submission
- We file with the IRS for you including submission by fax
- Active and inactive LLCs covered including zero-revenue LLCs
- Reasonable-cause statement included for late filings, when needed
- Post-filing IRS assistance for correspondence related to your filing
For foreign individuals and entities who own a U.S. LLC
This service is for non-U.S. individuals or companies that own a U.S. single-member LLC treated as a disregarded entity for U.S. tax purposes.
You need to file Form 5472 with a pro forma Form 1120 each year if your foreign-owned LLC has reportable transactions with you or another related party. These include common transactions such as:
- Money contributed to or withdrawn from the LLC
- LLC formation or startup costs
- Expenses paid on behalf of the LLC
- Payments between the LLC and its foreign owner or other related parties
Having no revenue or profit does not eliminate the filing requirement. A foreign-owned LLC can have a Form 5472 filing requirement even when it is inactive or has no business income.
Trust the experts
Transparent flat rates
20+ years of shared experience
Security and data encryption
Up to date knowledge
In order to give you the best care we can. Our experts complete continuing education every year to stay up to date.
Frequently asked questions
Do I need an ITIN to file Form 5472?
You do not need an ITIN solely because you own a foreign-owned U.S. single-member LLC that must file Form 5472. The LLC itself needs an EIN for the Form 5472 filing.
If you have a separate U.S. individual income tax filing requirement, an ITIN may be required for that purpose, but that is separate from the LLC’s Form 5472 filing.
What information do I need to provide?
We’ll need basic information about your LLC and its foreign owner, together with details of transactions between the LLC, its owner, and any other related parties during the year.
This typically includes:
- LLC name, EIN, formation date, and state of formation
- Foreign owner’s name, address, and tax information
- Money contributed to or withdrawn from the LLC
- Expenses paid personally by the owner on behalf of the LLC
- Other payments or transactions between the LLC and related parties
We’ll guide you through the information we need to prepare the Form 5472 and pro forma Form 1120.
What if my LLC had no income during the year?
Having no income does not eliminate the Form 5472 filing requirement. Foreign-owned U.S. single-member LLCs often have reportable transactions even when they generated no revenue or profit.
For example, money contributed by the owner, withdrawals from the LLC, formation costs, or expenses paid personally on behalf of the LLC can be reportable transactions. This is why a zero-revenue LLC can still need Form 5472.
When is Form 5472 due?
For a foreign-owned U.S. single-member LLC filing on a calendar-year basis, Form 5472 and the accompanying pro forma Form 1120 are normally due April 15 following the end of the tax year.
An extension can be requested by filing Form 7004 by the original deadline. The extension gives additional time to file, but it must be requested on time.
Can you file past-due Forms 5472?
Yes. We prepare and file delinquent Forms 5472 and the required pro forma Forms 1120.
When appropriate, we also prepare a reasonable-cause statement at no additional charge to explain why the filing was late and request relief from the $25,000 penalty. If the IRS sends correspondence related to the filing afterward, our assistance with that correspondence is also included in the $300 fee.
What happens if I don’t file Form 5472?
The IRS can impose a $25,000 penalty for failing to file Form 5472 on time or for filing an incomplete form. Additional penalties can apply if you fail to correct the filing after receiving notice from the IRS.
This penalty can apply even when your LLC had no income or owes no U.S. tax, which is why Form 5472 should not be overlooked simply because the LLC had little or no business activity.
Can I use this service if I have multiple LLCs?
Yes. We can prepare Form 5472 filings for multiple foreign-owned U.S. LLCs.
Our fee is $300 per LLC, per tax year. Each filing includes the required pro forma Form 1120, IRS filing, and the other services included in our Form 5472 package.
