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Form 5472 Filing
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Form 5472 FAQ

How do I know if my LLC needs to file Form 5472?

LLCs that meet the following criteria are subject to filing Form 5472:

  • Was formed in any US state (Wyoming, Nevada, Delaware, etc.) or D.C.
  • Has a single owner (member) or has chosen to be taxed as a corporation.
  • The owner is an individual who is not a US tax resident, or the owner is a foreign entity.

Form 5472 is only required in years that have a reportable transaction with a related party. However, virtually all LLCs have these kinds of transactions each year, even many newly-formed LLCs. Generally, any payments made between or on behalf of the LLC to or from its owner, including paying for filing or registered agent fees, count as reportable transactions.

When is Form 5472 due for an LLC?

For most LLCs, Form 5472 is due on April 15th every year. An extension can be requested, but must be sent by paper mail or faxed to the IRS. If an LLC has asked to be taxed like a corporation (by filing Form 8832), it will file Form 5472 as part of its annual corporate return filings.

Can LLCs e-file Form 5472?

Most LLCs cannot e-file Form 5472. They must physically print, sign, and mail the form to a specific IRS address, or use a fax machine to transmit it. Only LLCs that have chosen to be taxed as corporations by filing Form 8832 can e-file Form 5472 with tax software.

When you use 5472.io, we fax the form to the IRS for you at no extra cost.

What is the penalty for not filing Form 5472?

The IRS typically charges the maximum penalty whenever they discover that a Form 5472 is late or missing—$25,000 per form, across each year not filed on time. This penalty can apply regardless of the LLC's size or revenue.

What should I do if I forgot to file Form 5472?

When an LLC has missed the deadline to file Form 5472, it should submit the form as soon as possible for all required years. To seek waiver of the penalty, the LLC should submit a reasonable cause statement to the IRS. According to Treasury Regulation § 1.6038A-4(b)(2)(ii), the IRS will liberally apply reasonable cause relief when an LLC had no knowledge that it was required to file Form 5472, has limited US operations, and had less than $20 million in gross receipts.

Because of the way paper filings move through the IRS system, some LLCs do receive a notice even after including this statement. Generally, LLCs who receive a notice should first contact the phone number or address on the notice to ensure the IRS has evaluated reasonable cause relief.

What is a "reporting corporation" for Form 5472?

This is one of the most confusing parts about Form 5472. In general, the IRS doesn't treat US LLCs as a corporation unless they ask it to (by filing Form 8832). However, the Form 5472 regulations define "reporting corporations," which specifically include US LLCs with a single foreign owner. Thus, those LLCs are required to file Form 5472 even though the forms themselves use the word "corporation." The IRS refers to these LLCs as foreign-owned US disregarded entities.

What is a pro forma Form 1120?

Because Form 5472 was originally written for corporations, it's designed to be attached to the corporate tax return, Form 1120. When LLCs file Form 5472, they must write name, address, EIN, and sign on the first page of Form 1120, which acts as a cover sheet to the Form 5472s attached.

Do I need an ITIN, SSN, or EIN to file Form 5472?

The LLC filing Form 5472 must have a US EIN, but the foreign individual owner doesn't need an ITIN or SSN. The owner only needs to apply for an ITIN if they are required to file Form 1040-NR as an individual taxpayer. For most global founders, getting an EIN requires mailing or faxing Form SS-4 to the IRS. We can help you fax this form directly to the IRS to avoid mail delays.

Do I need to pay the IRS anything with my Form 5472?

Form 5472 is what's called an information return, which means it is just for the IRS's records and never has an amount of tax due or refund. If an LLC with a single foreign owner had taxable US income, the owner will generally pay that tax on their own Form 1040-NR. Some types of LLCs with foreign owners don't have US taxable income, for example, many consulting or professional services businesses that do all work outside the US.