Form 5472. Report of a foreign-owned US companyReports transactions between the US company and its foreign owner or related parties: money put in, loans, payments for services, and so on. A foreign-owned single-member LLC files it with a pro forma Form 1120 every year it has any such transaction.
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International, immigration and foreign owners
Form 5472
Report of a foreign-owned US company
What it is
Reports transactions between the US company and its foreign owner or related parties: money put in, loans, payments for services, and so on. A foreign-owned single-member LLC files it with a pro forma Form 1120 every year it has any such transaction.
Who it's for
US corporations that are 25% or more foreign-owned, and US single-member LLCs owned by a foreign person.
Good to know
- The penalty for missing or incomplete forms is $25,000 per form, per year.
- A foreign-owned single-member LLC files by fax or mail, not e-file.
- It needs an EIN for the LLC.
The law behind it
Related forms
8843Statement for exempt students, scholars and others8938Statement of specified foreign financial assets (FATCA)FinCEN 114 (FBAR)Report of foreign bank and financial accounts2555Foreign earned income exclusion
General information, not tax or legal advice. Check the current IRS instructions for the form before you file.