Form 5472
The IRS information return required from any U.S. corporation or foreign-owned U.S. disregarded entity with a 25% or greater foreign shareholder.
Form 5472 is an IRS information return that discloses transactions between a U.S. corporation or foreign-owned U.S. disregarded entity and its 25%-or-greater foreign owner or related foreign parties. Since 2017, foreign-owned single-member LLCs must file Form 5472 attached to a pro-forma Form 1120, even with zero reportable transactions. The penalty for non-filing or late filing is $25,000 per year per form. This is the most commonly missed federal filing among non-resident LLC owners.
Also known asIRS Form 5472, 25% Foreign Owner Disclosure
Related terms
- Form 1120 — The U.S. corporate income tax return; for foreign-owned single-member LLCs, a pro-forma Form 1120 must be file…
- Single-Member LLC — An LLC with only one owner, taxed by default as a disregarded entity (sole proprietorship for tax purposes).…
- LLC — A U.S. legal-entity form combining the limited liability of a corporation with the pass-through taxation of a …
- EIN — A nine-digit IRS-issued tax identification number for U.S. business entities, equivalent to a Social Security …