If your US LLC has a non-US owner, there’s one form the IRS expects every year — even if your company made nothing. It’s called Form 5472, and it’s the single most-missed filing for non-resident founders. The good news: once you know what it is, it’s usually a non-event, and every one of our plans handles it for you.
What is Form 5472?
Form 5472 is an information return. It doesn’t calculate tax — it tells the IRS about money that moved between your US company and the people connected to it (mainly you, the owner). Because foreign-owned US entities are harder for the IRS to see, this form is how they keep track.
Filing a Form 5472 usually does not mean you owe US tax. It’s a disclosure, not a bill.
Who has to file it?
You’ll almost certainly need to file if you’re a non-resident and you own:
- A foreign-owned single-member LLC (a “disregarded entity”) — the most common case for non-resident founders.
- A US corporation that is at least 25% owned by a non-US person.
Single-member LLCs file Form 5472 attached to a pro-forma Form 1120 — a mostly-blank corporate return that exists just to carry the 5472.
What counts as a “reportable transaction”?
Basically, any money that moves between you and your LLC. The common ones:
- Money you put into the company (capital contributions).
- Money you take out (distributions).
- Loans in either direction.
- Payments the company makes to you or to another business you own.
The deadline
For a calendar-year LLC, Form 5472 (with its pro-forma 1120) is due April 15. You can get an automatic 6-month extension to October 15.
The IRS sets a significant penalty for filing Form 5472 late, and it can apply even if your company had no income — which is exactly why it’s worth getting right the first time.
How we handle it
- We confirm your entity type and ownership so we know which forms apply.
- We gather the year’s transactions between you and the company.
- We prepare the pro-forma 1120 and attach the completed 5472.
- A US-licensed CPA reviews it, and we file by the deadline — or file an extension if you need more time.
None of it is conceptually hard, but the details trip people up. That’s why every one of our tax plans files Form 5472 for you automatically — so a form you’d rather not think about becomes one you never have to.
