Form 1120
The U.S. corporate income tax return; for foreign-owned single-member LLCs, a pro-forma Form 1120 must be filed alongside Form 5472.
Form 1120 is the corporate income tax return filed by C-Corporations. For non-resident-owned single-member LLCs treated as disregarded entities, the IRS requires a "pro-forma" Form 1120 to be filed solely to attach Form 5472 — only the entity name, EIN, and signature lines are completed, with all financial fields left blank. Failure to file the pro-forma 1120 + Form 5472 combination is a $25,000 penalty per missed year, even with zero U.S. activity.
Also known asIRS Form 1120, 1120 Pro Forma
Related terms
- Form 5472 — The IRS information return required from any U.S. corporation or foreign-owned U.S. disregarded entity with a …
- LLC — A U.S. legal-entity form combining the limited liability of a corporation with the pass-through taxation of a …
- C-Corp — A U.S. corporation taxed under Subchapter C of the Internal Revenue Code, with corporate-level tax on profits …
- Single-Member LLC — An LLC with only one owner, taxed by default as a disregarded entity (sole proprietorship for tax purposes).…