Form 5472 & Pro Forma 1120
Mandatory Reporting for Foreign-Owned US Disregarded Entities
Foreign persons owning 25% or more of a US entity (including single-member LLCs) must submit Form 5472 and a pro forma Form 1120 annually. Protect against the severe $25,000 IRS penalty.
QuickTaxnBooks advises international founders, remote Amazon/Stripe e-commerce operators, and software consultancies in over 60 countries on cross-border tax compliance, ensuring their US entities stay in good standing without paying unnecessary US income taxes.
Key Advantages for Your Business
Avoid $25,000 IRS Penalty
The IRS enforces an automatic $25,000 civil penalty per Form 5472 not filed on time, plus $25,000 per month continuing penalty.
Single-Member LLC Protection
Under Treasury Reg. § 301.7701-2(c)(2)(vi), foreign single-member LLCs are treated as corporations solely for Form 5472 reporting.
Reportable Transactions Accounting
Accurately document capital contributions, loans, owner withdrawals, management fees, and sales of goods between owner and LLC.
EIN & ITIN Guidance Included
We verify your entity EIN and responsible party structure to ensure compliant acceptance at IRS processing centers.
What You Receive
Frequently Asked Questions
Does my US LLC owe income tax if I am a non-resident alien?+
If your LLC has no Effectively Connected Income (ECI) with a US trade or business and no US permanent establishment/employees, you generally owe $0 in federal income tax - but Form 5472 and pro forma 1120 are still legally mandatory.
What happens if I missed previous years of Form 5472?+
We help foreign clients submit delinquent returns under IRS reasonable cause penalty abatement procedures to seek penalty waivers.
Book This Service with Viktor
Connect directly with Vikram Singh Angurala in Albany, NY or on a secure video call to get your file processed accurately.