Inbound Business & LLCs
Form 5472 (Foreign-Owned U.S. Entities & LLCs)
Information Return of a 25% Foreign-Owned U.S. Corporation or Disregarded Entity
- Penalty
- $25,000 mandatory penalty per form/year for failure to timely file or maintain reportable records, plus $25,000 per 30-day period after IRS notice.
- Deadline
- Filed with Form 1120 or pro-forma 1120 by April 15 (or October 15 with Form 7004 extension).
- Who must file
- U.S. corporations with 25%+ direct or indirect foreign ownership, and foreign-owned single-member U.S. LLCs (treated as disregarded entities under Treas. Reg. §1.6038A-1).
- Statute of limitations
- Statute of limitations on related-party transactions remains open indefinitely if omitted.
- Key parts & schedules
- Part IV (Monetary Transactions) · Part V (Non-monetary Transactions) · Part VI (Related Foreign Party Details)
Where filings usually fail
- Believing zero US income excuses filing for Delaware/Wyoming LLCs
- Omitting capital contributions, loans, or personal expense reimbursements
- Missing the strict annual e-file or fax deadline
How we run it
- Audit-proof preparation of Form 5472 and pro-forma Form 1120
- Classification and ledger reconciliation of all reportable transactions
- Penalty abatement petitions under Reasonable Cause for prior missed years
Next step
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