Prepare Form 5472 For a Foreign-Owned Single Member LLC
If you've come to this page, you are likely a non-U.S. person that owns 100% of a U.S. LLC.
You probably also know that every single-member U.S. LLC with a foreign owner must file a Form 5472 each year, or face a $25,000 penalty from the IRS!!!!!
Don't let the IRS penalize you so much it puts you out of business before you can even get started!
We are going to cover the following topics in this guide:
1. What is Form 5472?
2. Who needs to file Form 5472?
3. What are reportable transactions and how do I calculate them?
4. Where can I download the forms?
5. Under what circumstances will my LLC be subject to U.S. taxes?
6. What is a U.S. trade or business and effectively connected income?
7. Can I file an extension to submit my Form 5472?
8. When would the LLC need to file an FBAR?
A sample Form 5472 is provided with attachments for your reference.
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Form 5472 Tax Prep Guide