Form 5472 and pro forma 1120 for foreign-owned LLCs
If you own a single-member US LLC from outside the US, the IRS generally requires Form 5472 with a pro forma Form 1120 every year, even if the company earned nothing.
- Single-member LLCs with a foreign owner
- Due 15 April for calendar years
The penalty for not filing
The IRS penalty for failing to file Form 5472 is $25,000 per form, per year, with more if the failure continues after IRS notice.
Transactions between you and your LLC
Form 5472 reports “reportable transactions” between the LLC and its foreign owner or related parties. That includes money you put into the company, money you take out, and payments between them.
The pro forma Form 1120 is only a cover for the 5472. It carries basic company details, not a full corporate tax calculation.
- Who files
- Foreign-owned single-member LLCs
- Forms
- 5472 plus pro forma 1120
- Needs
- The LLC’s EIN
- Extension
- Form 7004 by the original due date
How we file your 5472
Collect records
Bank statements and a list of owner transactions.
Classify
We identify the reportable transactions.
Prepare forms
Form 5472 and the pro forma 1120.
Review
You check and sign.
File
We submit by the method the IRS instructions require.
Single-member US LLCs
Owned by one person or company outside the US.
Zero-income LLCs
Forming and funding the LLC already counts as reportable.
Missed past years
You need late-year returns filed to get back on track.
Thinking no income means no filing
The filing comes from transactions, not profit.
Wrong address
It is faxed or mailed to a special IRS unit, not e-filed.
Incomplete owner details
A substantially incomplete form counts as not filed.
Foreign-owned LLC tax filing
- No activity (Form 5472 + pro forma 1120)$149
- Active LLC (Form 5472 + pro forma 1120) Most popular$249
- Each additional foreign related party+$50
- Prior / late year$299 per year
The active LLC filing includes a Form 7004 extension if needed.
What you need for Tax filing
Prepare these before you apply. Exact requirements depend on your situation, and we confirm them with you.
Documents
- Prior-year returns, if any
- Income records: W-2s, 1099s, 1042-S or platform reports
- Bank statements for the business
- Expense receipts and records
Information you’ll provide
- SSN, ITIN or EIN
- Residency status and days in the US
- Entity type and ownership
- Owner contributions and withdrawals (for Form 5472)
- The return you need depends on your residency and entity type.
- Some returns can’t be e-filed and are sent by mail or fax.
- Upload documents securely in your client portal or send them to us on WhatsApp.
Own a US LLC from abroad?
Let us check whether your 5472 is up to date.