IRS Form 5472 and Pro Forma Form 1120 for Non-Resident LLC Owners
This guide provides an overview for non-resident LLC owners on how to properly file Form 5472 and Pro Forma Form 1120 with the IRS, essential for compliance with U.S. tax regulations.
Filling Out Form 5472
Form 5472 is a requirement for foreign-owned U.S. disregarded entities engaging in reportable transactions with a related party. Here’s what to include:
- Part I: Provide LLC information including name, address, and EIN. The address can be foreign.
- Part II: Detail the single foreign owner's information.
- Part III: Describe the related party and the reportable transactions.
- Additional parts cover more specific transaction details and information about monetary exchanges.
Review the IRS instructions for Form 5472 carefully to ensure all applicable lines and parts are completed accurately.
Completing Pro Forma Form 1120
Pro Forma Form 1120 is simpler for foreign-owned LLCs, requiring minimal information:
- The LLC's name, address, and EIN.
- Indicate "Foreign-owned U.S. DE" at the top of the form.
- Sign and date the form after the perjury statement.
This form accompanies Form 5472 when submitted to the IRS.
Need Assistance with Your Filing?
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