Form 5472 Explained for Foreign-Owned LLCs
If you own a US LLC as a non-resident, Form 5472 is required every year — even with zero income. Here is everything you need to know.
Many non-resident owners of US companies are surprised to learn that Form 5472 must be filed with the IRS every year — even if the company made no profit. Missing it can be very expensive, so here is what you need to know.
What is Form 5472?
Form 5472 is an information return filed by US companies that are 25% or more foreign-owned. It reports transactions between the company and its owner, such as capital contributions, withdrawals and loans. Single-member LLCs with a foreign owner file it together with a pro-forma Form 1120.
Who must file Form 5472?
- Single-member LLCs owned by a non-US person.
- US corporations that are 25% or more foreign-owned.
- Even dormant companies, as long as there was a reportable transaction such as paying formation fees.
Deadline and penalty
The usual deadline is 15 April for the previous year, extendable by six months with Form 7004. The penalty for not filing, or filing an incomplete form, starts at $25,000 per form — one of the highest information-return penalties at the IRS. See the official IRS instructions.
Documents you will need
- Company details: name, EIN, formation date and state.
- Owner details: name, address, country and foreign tax ID if any.
- Full-year bank statements to identify transactions with the owner.
How we help
We prepare Form 5472 and the pro-forma 1120 from your statements, review them with you, then file and send you the submission copy. Request it from our tax filings page and upload your statements inside the request.
Bottom line: if you own a US LLC as a non-resident, put Form 5472 in your calendar every year before 15 April.