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Zero Tax Return for a Disregarded Entity LLC (including Form 5472)

US companies that are 25% or more owned by foreign persons for US tax purposes must check every year whether they have to file Form 5472. With it, the company reports its transactions with related parties to the IRS, in both directions.

We know exactly what matters when preparing these documents, and we make sure every formality with the Internal Revenue Service is handled simply and properly for you. Book the service now and we get started right away.

$600
Included in the fee
  • Review of the reportable transactions during the year, such as contributions, distributions and payments between you and the LLC
  • Preparation of Form 5472 and the pro forma Form 1120 cover sheet
  • Extension with Form 7004 if your documents are not ready by the deadline
  • Filing by fax with the IRS for one tax year; each additional year is ordered separately

We prepare the zero tax return for any foreign-owned single-member LLC, whether or not it does business in the US. If you want to form an LLC with no US business, or have one managed on an ongoing basis, you will find the right package at our sister site zerotax.llc. It is run by the same firm in Austin.

What exactly is IRS Form 5472?

IRS Form 5472 is an information return that must be filed with the Internal Revenue Service mainly by LLCs (learn more about exempt LLCs here) and C Corporations with at least 25% foreign ownership. Its main purpose is to disclose transactions between a reporting US company and a related party, foreign or domestic. Examples include any money transfers, rent payments or commissions between the two parties.

What are the penalties for not filing IRS Form 5472?

If the company does not file Form 5472 on time, the penalty is $25,000 per year (IRC § 6038A(d)). A substantially incomplete Form 5472 counts as not filed. If the IRS has notified you of the failure and Form 5472 still has not been filed after 90 days, another $25,000 is added for each 30-day period or part of one. We make sure your Form 5472 is filed completely and on time.

$25,000
Penalty per year without a complete Form 5472
+ $25,000
per 30-day period or part of one, if nothing has been filed 90 days after the IRS notice
25 %
Ownership threshold that triggers reporting
Already received a letter from the IRS? For late filing or late payment penalties and penalties on information returns such as Form 5472, we file the request for abatement at a fixed price per letter. IRS letters & penalties →

How is IRS Form 5472 filed?

A foreign-owned single-member LLC files Form 5472 together with a pro forma Form 1120 cover sheet by the Form 1120 deadline: for a calendar-year company, April 15 of the following year. Form 7004 extends the deadline. Such an LLC cannot file Form 5472 electronically; it goes to the IRS by fax or mail.

It is not only sales that must be reported. The Form 5472 instructions expressly include amounts related to forming the company, as well as contributions and distributions. For this we need from you the LLC's name and EIN, the tax year, the year's bank statements and a list of your contributions, distributions and payments to or from the LLC.

Your partner for preparing and filing IRS Form 5472

Mount Bonnell Advisors is happy to handle the entire process of preparing and filing IRS Form 5472 for you, year after year.

Have more questions about IRS Form 5472 or want to check whether you have to file? Just get in touch now to book a personal consultation with one of our tax experts. We offer professional advice on all US tax matters, tailored to your needs.

Form 5472, done right and on time.

We check your reporting obligation and file the return for your disregarded entity, in English.

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