Who must file
A single-member LLC is normally ignored for US income tax. Since 2017, though, a US LLC wholly owned by one foreign person is treated as a corporation for one purpose: reporting transactions with its owner. That means it files:
- a pro forma Form 1120, with only the company's name, address, EIN and a note at the top, and
- Form 5472, which reports the owner and the money that moved between the owner and the LLC.
This applies every year the LLC exists, even with zero income and zero activity.
What you report on Form 5472
- The foreign owner: name, address, country, and foreign tax number or US ITIN.
- "Reportable transactions" between the owner and the LLC: money you put in to open the account or pay fees, loans, payments for services, distributions you took out.
- The LLC needs an EIN. It can't file without one.
Paying a state fee, a registered agent or formation costs from your own pocket counts as a contribution. That alone makes the form required.
Deadline and extension
The return is due April 15 for calendar-year LLCs. Form 7004 extends it to October 15. The pro forma return and Form 5472 can't be e-filed through normal channels. They are mailed or faxed to the IRS as the instructions allow.
The penalty
A missing, late or incomplete Form 5472 carries a $25,000 penalty per form, per year. More can be added if the IRS writes and the form still isn't filed. Late filings with a reasonable explanation can sometimes get the penalty removed, so it's worth fixing past years quickly.
How we file it
Tax From US has prepared over 9,000 business returns, including Forms 5472 for owners in dozens of countries. We collect your bank statements, list the reportable transactions, prepare the pro forma 1120 and Form 5472, and send it to the IRS with proof of delivery. If you also sell on Amazon or run a US business, our partner E-Commerce.One helps with company formation and operations. See business tax services.
Frequently asked questions
My LLC had no income. Do I still file Form 5472?
Yes. Even putting money in to pay state fees is a reportable transaction. The filing is required every year the LLC exists.
Can a foreign-owned LLC file Form 5472 late?
Yes. File as soon as possible with an explanation. A reasonable-cause statement can help get the $25,000 penalty reduced or removed.
Does a multi-member LLC file Form 5472?
A multi-member LLC is usually a partnership and files Form 1065 instead. Different rules apply, so ask us.
This guide is general information based on IRS publications and form instructions as of November 2026. It isn't tax advice for your situation. Rules change, so our tax experts check every return before filing.