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Do you need to file Form 5472?
For non-US owners of a US single-member LLC. Answer six plain questions to find out whether you need to file, when it's due, and what you still need to prepare. No signup, and your answers stay in your browser.
The short version
Form 5472, in plain language.
Who has to file Form 5472?
Since 2017, a US single-member LLC owned by one non-US person is treated like a corporation for this reporting rule. In any year it has a "reportable transaction" with its owner, it must file Form 5472, attached to a pro forma Form 1120. A pro forma 1120 is a mostly blank cover form: name, address, and EIN.
What counts as a reportable transaction?
Almost any money moving between you and your LLC: putting money in, taking money out, loans, the LLC paying for something of yours, or you paying the LLC's bills, including formation and registered agent fees. That's why most owners have to file even in a year with no revenue.
When is Form 5472 due?
For a calendar-year LLC, April 15 of the following year. Filing Form 7004 by then extends it to October 15.
What happens if I don't file Form 5472?
The IRS penalty is $25,000 for each year the form is missing or substantially incomplete, and it grows if you still haven't filed after an IRS notice. Penalties can sometimes be reduced if you can show reasonable cause, which is best handled with a tax professional.