Form 5472 filing checklist for foreign-owned US LLCs

1. Confirm the filing requirement applies

Form 5472 applies to a US LLC that is treated as a disregarded entity and is wholly owned, directly or indirectly, by a foreign person, where there were reportable transactions during the tax year. Ownership by a non-US individual or a non-US company both count.

2. Entity identification

• Legal name of the LLC exactly as registered
• State of formation and the formation date
• US mailing address used by the LLC
• EIN — required. A disregarded foreign-owned LLC still needs its own EIN to file, even with no US tax liability.
• Principal business activity and business activity code

3. Owner (25% foreign shareholder) details

• Full legal name of the foreign owner
• Country of citizenship, organisation, or incorporation
• Full address outside the United States
• Any US or foreign taxpayer identification number the owner holds
• Country or countries where the owner files an income tax return as a resident

4. Transaction records for the tax year

Form 5472 reports transactions between the LLC and its foreign owner or related parties. Collect the amounts and supporting records for items such as:

• Capital contributions to the LLC
• Distributions or withdrawals taken by the owner
• Loans in either direction, and any interest
• Expenses paid by the owner on behalf of the LLC, or the reverse
• Sales, purchases, rents, royalties, or service fees between the parties

Formation-related costs paid personally by the owner are a common item people forget. If you are unsure whether something belongs here, treat it as a question to resolve rather than an omission to make.

5. The pro forma Form 1120

Form 5472 is not filed alone. It is attached to a pro forma Form 1120 that carries the entity's identifying information. This return does not report taxable income for a disregarded entity — it exists so the information return has a valid filing vehicle.

6. Deadline and delivery

For a calendar tax year the filing is generally due by April 15 of the following year, extendable with Form 7004. Keep proof of filing with your records.