Form 5472 for foreign-owned LLCs: deadlines and penalties

Of all the obligations that come with a US LLC, Form 5472 is the most important — and the most often forgotten. It isn’t a tax bill: it is an information return. But forgetting it can cost $25,000, per form, per year.

If you own a single-member LLC from outside the United States, this guide is for you: who has to file, what to report, when and how to send it, and how to stay clear of the penalties. Form 5472 is federal, so it applies whatever state your LLC was formed in, on top of any state annual report (our state comparison covers those).

Who must file Form 5472

Since tax years starting in 2017, a single-member LLC owned by a foreign person must file Form 5472 every year. A “foreign person” here is an owner who isn’t a US person: typically, an entrepreneur who lives abroad and is neither a US citizen nor a US resident.

Normally, the IRS looks straight through a single-member LLC: by default, it is a “disregarded entity”, transparent for tax purposes. For Form 5472, however, a foreign-owned disregarded entity is treated as a corporation. That is why the form travels with a corporate return, Form 1120, filled in “pro forma”.

Revenue is not the test. The form reports transactions between the LLC and its owner, and almost every LLC has some, even in a year without a single sale.

Multi-member LLCs follow a different regime: by default they are taxed as partnerships and file Form 1065, with a K-1 for each member. It is a more complex return, to prepare with a tax professional.

What counts as a reportable transaction

A reportable transaction is a movement of money or value between the LLC and its owner, or a related party such as another company you own. Typical examples:

You put money in: the capital you transfer to the LLC, including the money used to form it.
You take money out: distributions to yourself.
The LLC pays your personal expenses, or you pay the LLC’s expenses with your own money.
Loans between you and the LLC, in either direction.
You sell services to the LLC, or buy from it.

In practice, almost every active LLC has some. Even an LLC with zero revenue usually has at least one, because you funded its formation with your own money.

Zero revenue doesn’t mean zero reportable transactions. The money you used to form your LLC is usually the first one.

What you actually file

The package is short:

Form 5472, which identifies the LLC and its foreign owner and reports the year’s reportable transactions.
A pro forma Form 1120, on which only the identification part is filled in: the LLC’s name, address, EIN and so on. No income statement, no tax calculation.

The IRS publishes the form and its instructions on its Form 5472 page.

Behind those two forms, keep your records: the bank statements and invoices that support every figure you report. They are your proof if the IRS ever asks. A dedicated business account makes this far easier, since every movement shows up on its statements — see our guide to opening a US bank account for your LLC.

Deadlines, extension and your first year

For a calendar-year LLC, Form 5472 and the pro forma 1120 are due by April 15 for the year just ended.

Need more time? File Form 7004 before April 15, and the deadline moves by six months, to October 15. The extension only works if it is requested before the original deadline.

Your first year. The first return covers the year in which the LLC was formed, even if it only existed for a few weeks. An LLC formed in September 2026, for example, files its first Form 5472 for 2026, due by April 15, 2027 — or by October 15, 2027, with an extension.

How to send it to the IRS

For most foreign-owned LLCs, these returns can’t go through the usual e-file channels. They are sent to the IRS by fax or by mail, as set out in the form’s instructions.

Whichever route you take, keep proof that you sent it on time:

By fax: the transmission report, showing the date and the number of pages sent.
By mail: a dated proof of posting, such as tracked or registered mail.

File that proof with a full copy of the forms and the statements behind the figures. If a question ever comes up, everything will be in one place.

Penalties, and how to avoid them

The penalty is $25,000 per form, per year — for not filing, for filing late, or for filing an incomplete form. If the failure continues after an IRS notice, additional penalties are added on top.

Avoiding it comes down to four habits:

File on time, or file Form 7004 before April 15 to get until October 15.
File a complete form, with every required part filled in.
Stay consistent with your bank statements: the amounts you report should match what they show.
Keep your records for every transaction you report.

Does filing Form 5472 mean you pay US tax?

No. Form 5472 is an information return: it tells the IRS what moved between the LLC and its owner. Filing it does not, by itself, mean any tax is due.

Whether your LLC owes US federal income tax is a separate question, which depends on whether it has a US trade or business. If you, the non-resident owner, have no office, no employees and no dependent agent in the United States, and you perform your services from abroad, the LLC generally owes no federal income tax.

Your home country is another matter. You remain taxable where you live, and how your country treats the LLC’s profits depends on its rules and on the facts: as a transparent entity or as a company, under controlled foreign company rules, or even as a company tax-resident there because it is managed from there (the “place of effective management”). You may also have to declare the LLC’s US bank account. These are separate declarations, to prepare with a local tax adviser.

This guide is general information, not tax or legal advice.

How LLCUSA handles it

You can file Form 5472 yourself, with a professional, or let us do it. Our Annual federal filing add-on handles the whole process: we prepare Form 5472 and the pro forma 1120 from your records and send them to the IRS. It is included in the Empire package for your LLC’s first year.

Package contents and prices are on our pricing page. And if your LLC has several members, we will tell you plainly: its Form 1065 is a job for a tax professional.

FAQ

My LLC had no activity this year. Do I still need to file?

Most likely, yes. No revenue doesn’t mean no reportable transactions: the money you used to form the LLC or to pay its expenses is usually reportable. Given the size of the penalty, check with a professional before deciding not to file.

I forgot to file last year. What should I do?

File as soon as possible, without waiting for a letter from the IRS: additional penalties apply if the failure continues after a notice. Consider getting professional help, in particular to look into penalty relief.

Do I need an ITIN to file Form 5472?

No. The filing is made in the LLC’s name, under its EIN. An ITIN is a personal taxpayer number, useful in other situations — not this one.

When is my first Form 5472 due?

For a calendar-year LLC, by April 15 of the year after it was formed — or October 15 if you file Form 7004 before April 15. Formed in September 2026? Your first deadline is April 15, 2027.

Want your yearly filing handled from day one? Start your LLC and add the annual federal filing to your order. Still at the planning stage? Our complete guide to forming a US LLC as a non-resident walks you through every step.