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Form 5472 Instructions: What Each Part Asks (2026)
This guide walks through Form 5472 part by part for a single-member US LLC owned by someone outside the US: what each section asks, what a typical foreign-owned LLC enters, and the mistakes that lead to the $25,000 penalty. If you would rather not do it yourself, we prepare and file it for you.
A foreign-owned single-member LLC completes Form 5472 to report its transactions with its owner, and attaches it to a one-page pro forma Form 1120 marked “Foreign-owned U.S. DE”. It usually fills in Parts I, II, III, IV, V and VII. The forms are due by April 15 for a calendar-year LLC (six more months with Form 7004), cannot be e-filed, and a missing or incomplete form can cost $25,000.
Who Has to Complete Form 5472?
Since 2017, a US LLC that is wholly owned by one foreign person is treated as a corporation for Form 5472 purposes, even though it is a disregarded entity for income tax. It must file when it had a reportable transaction with a related party during the year. The owner is a related party, so paying formation fees, putting money into the LLC or taking money out are all reportable. In practice nearly every foreign-owned single-member LLC files every year.
Multi-member LLCs taxed as partnerships do not file Form 5472 this way; they have their own returns. See our guide to single-member LLCs if you are not sure which you have.
What You Need Before You Start
| Item | Why it is needed |
|---|---|
| LLC name, US address and EIN | Identifies the reporting company (Part I) |
| Owner’s full name, address and country of citizenship and residence | Identifies the 25% foreign shareholder (Part II) |
| Owner’s foreign tax ID (and US tax number, if any) | Requested for the owner in Part II |
| Bank statements for the tax year | To total money in from the owner, money out to the owner and other related-party amounts |
| Total assets of the LLC at year end | Asked in Part I |
| Principal business activity | Asked in Part I |
Form 5472 Part by Part
| Part | What it asks | What a single-member foreign-owned LLC usually enters |
|---|---|---|
| Part I | The reporting corporation: name, address, EIN, total assets, business activity | Your LLC, plus the box showing it is a foreign-owned US disregarded entity |
| Part II | The 25% foreign shareholder | You, the owner: name, address, countries, tax ID |
| Part III | The related party the LLC dealt with | Usually you again, as the owner |
| Part IV | Monetary transactions with the foreign related party | Amounts such as payments between you and the LLC, sales, services or loans |
| Part V | Reportable transactions of a foreign-owned disregarded entity | Box checked, with a statement describing contributions to and distributions from the LLC |
| Part VI | Non-monetary or less-than-full-value transactions | Often left blank |
| Part VII | Additional yes/no questions | Answered for every filer |
| Lines meant for domestic corporations | Domestic-only questions | Left blank |
The Pro Forma Form 1120
A foreign-owned LLC does not prepare a full corporate tax return. It sends a pro forma Form 1120 as a cover sheet: only the name, address and a few identifying items on page 1 are filled in, and “Foreign-owned U.S. DE” is written across the top. Our Form 1120 guide explains what the pro forma is and why it is needed.
Deadline, Extension and How It Is Sent
- Due date: the due date of the pro forma Form 1120, which is April 15 for a calendar-year LLC.
- Extension: an automatic six months (to October 15) with Form 7004, filed by the original due date and also marked “Foreign-owned U.S. DE”.
- No e-filing: the forms go to a special IRS unit by fax or mail, not to the usual Form 1120 address. Sending them to the wrong place is a common reason a filing is missed.
Calendar Year and Tax Year Dates on Form 5472
The top of Form 5472 asks for the tax year: “For calendar year 20__, or tax year beginning …, and ending …”. Most foreign-owned single-member LLCs use the calendar year, so for the 2025 tax year you enter 2025 (January 1 to December 31, 2025) and file by April 15, 2026, or by October 15, 2026 with an extension. Use the same dates on the pro forma Form 1120. If your LLC was formed during the year, the first tax year starts on the formation date.
Form 5471 vs Form 5472
| Form 5471 | Form 5472 | |
|---|---|---|
| Who files | US persons with ownership or control in certain foreign corporations | 25% foreign-owned US corporations and foreign-owned US single-member LLCs |
| What it reports | Information about the foreign corporation | Transactions with foreign or related parties |
| Typical filer | A US citizen or resident who owns a company abroad | A non-US founder who owns a US LLC |
If you live outside the US and own a US single-member LLC, the form you file is Form 5472, with a pro forma Form 1120. Form 5471 is usually not your form.
Penalties for Missing or Incomplete Forms
The penalty is $25,000 for each form that is not filed on time, not filed correctly or not backed by the required records, and a substantially incomplete form counts as not filed. If the IRS sends a notice and the form is still missing 90 days later, an extra $25,000 can be added for each further 30-day period. The penalty applies even when the LLC owes no tax.
Records to Keep
Keep the LLC’s bank statements, invoices and a simple record of money the owner put in and took out. The rules require records that support what the form reports, and not keeping them can itself trigger the penalty.
Common Form 5472 Mistakes
- Assuming no income means no filing.
- Leaving Part V empty when the owner paid the formation or running costs.
- Filing Form 1040-NR or nothing instead of the pro forma 1120 with Form 5472.
- Sending the forms to the regular Form 1120 address or trying to e-file.
- Missing the Form 7004 extension deadline, which is the original due date.
What We Need From You
If you want us to handle it, send your bank statements for the year and confirm your owner details. We prepare Form 5472 and the pro forma 1120, send them before the deadline and keep you updated on WhatsApp. It costs up to $60 for both forms. See our Form 5472 filing service for what is included.
Form 5472 Instructions: FAQs
What dates go at the top of Form 5472?
Most foreign-owned single-member LLCs use the calendar year. For the 2025 tax year, enter calendar year 2025 (January 1 to December 31, 2025) and file by April 15, 2026, or October 15, 2026 with an extension.
What is the difference between Form 5471 and Form 5472?
Form 5471 is filed by US persons who own or control certain foreign corporations. Form 5472 is filed by foreign-owned US corporations and foreign-owned US single-member LLCs to report transactions with foreign or related parties.
Do I fill in Form 5472 if my LLC made no money?
Yes. A foreign-owned single-member LLC files when it had any reportable transaction with its owner or another related party. Money the owner put in to pay formation or running costs counts, so almost every foreign-owned LLC files, even with no sales.
Which parts does a single-member foreign-owned LLC complete?
Usually Part I (the LLC), Part II (the foreign owner), Part III (the related party, often the owner again), Part IV and Part V for transactions, and Part VII. Lines meant only for domestic corporations are left blank.
What goes in Part V?
Part V is for foreign-owned disregarded entities. You check the box and attach a short statement describing transactions such as money the owner contributed to the LLC and money the LLC paid out to the owner.
Do I need a full Form 1120?
No. The LLC sends a pro forma Form 1120: only the name, address and a few identifying items on page 1 are completed, with “Foreign-owned U.S. DE” written across the top, and Form 5472 attached.
Can I e-file Form 5472?
No. For a foreign-owned disregarded entity, Form 5472 with the pro forma 1120 cannot be filed electronically. It goes to a special IRS unit by fax or mail, which we handle for you.
What happens if I file it late?
The penalty is $25,000 per form, and an incomplete form counts as not filed. If the IRS sends a notice and it is still missing 90 days later, more $25,000 penalties can be added for each further 30 days. See our guide to Form 5472 filing for what to do next.
Based on the IRS Instructions for Form 5472 (revised December 2024) and Treasury Regulations section 1.6038A. Tax rules change; we check the current instructions before every filing.
Let Us File Your Form 5472
Up to $60 for both forms. Send us your bank statements and we prepare and file them before the deadline.
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