Foreign-owned US LLCs
Form 5472 Filing for Foreign-Owned US LLCs
You live outside the US. Your LLC still owes the IRS a filing every year.
If you own a US LLC from abroad, the IRS expects Form 5472 with a pro forma Form 1120 every year, even if the LLC made no money. Ashmore Books prepares and files it for you, built from your bank statements and reviewed by an Enrolled Agent, at a fixed price.
Fixed price from $399. Extension included. Faxed to the IRS with a timestamped confirmation.
Sound familiar
Do I need to file Form 5472 for my LLC?
Most foreign owners find out about Form 5472 late, usually from a forum post or a worried friend. The company that formed the LLC rarely mentions it.
If any of these sound like you, the answer is very likely yes.
- My LLC had no sales. Do I really need to file anything?
- I sent money into the LLC and took some out. I have no idea if that counts.
- The company that formed my LLC never mentioned Form 5472.
- I think I missed last year. Now I am worried about the $25,000 penalty.
- My US bank statements are a mess and nobody has ever looked at them.
- Every US accountant I contact either ignores me or quotes a price that makes no sense for my size.
- I do not know if I need an ITIN, an extension, or something else first.
- I just want someone to tell me what is needed and handle it.
What it is costing you
Form 5472 penalty: why this filing is not optional
$25,000 per form, per year
The IRS penalty for a missing, late, or incomplete Form 5472 starts at $25,000. It applies even when the LLC owes no tax.
No income does not mean no filing
Money you put in, money you take out, and expenses you pay for the LLC are all reportable transactions. Most foreign-owned LLCs have at least one every year.
It cannot be e-filed
A foreign-owned single-member LLC must fax or mail the return. Filing software and online tax tools usually cannot send it for you.
Problems stack up
A missed year makes the next filing harder, and messy bank records make every year slower and more expensive to fix.
What changes once we are on it
What you get with Ashmore Books
Filed on time, every year
We track the April 15 deadline and file Form 7004 for an extension when it helps.
Transactions found for you
We go through your bank and payment statements and identify every reportable transaction, so you do not have to guess.
A clear yes or no
If your LLC does not need to file, we tell you why, in writing.
Proof of filing
You get a copy of the full return and the IRS fax confirmation for your records.
Books that make sense
With the 5472 + Books package, your year-end Profit and Loss and Balance Sheet are prepared from the same statements.
Missed years handled
Late filings come with a reasonable-cause statement to request penalty relief.
Response within one business day
Your questions are answered in plain English, by the people who actually prepare your filing.
Why us
Why foreign owners choose us over a form-filling website
Enrolled Agent-led
Your filing is prepared and reviewed by a federally licensed tax practitioner who can represent you before the IRS.
Built from your statements
Online tools ask you to list your own transactions. We read your bank statements and find them, which is where most mistakes happen.
Books and tax under one roof
We already clean up and maintain books for US businesses. When your records need work, it is the same team.
Fixed prices, published
You see the price before you start. Anything outside the package is quoted before any work begins.
Harder cases too
Multi-member LLCs, foreign-owned corporations, Form 5471, and missed prior years.
Fast replies
One business day, by email. No waiting a week for an answer.
Packages
Form 5472 filing price: simple packages, fixed fees
Every package is per entity, per tax year. You approve the scope and price before any work begins.
5472 Essentials
$399 per year
For a single-member LLC with one foreign owner.
- Form 5472 and pro forma Form 1120
- Reportable transactions identified from your bank statements
- Form 7004 extension if needed
- Faxed to the IRS, with timestamped confirmation
- Copy of the full return for your records
Most popular
5472 + Books
$899 per year
Everything in Essentials, plus your year-end books.
- Year-end bookkeeping for the year
- Up to 2 bank or payment accounts and 300 transactions
- Profit and Loss and Balance Sheet
- Books and filing that agree with each other
For monthly clients
$249 per year
For clients on Ashmore Books monthly bookkeeping.
- Same filing as Essentials
- Prepared straight from books we already keep
- Lower price because the hard part is already done
Add-ons
| Add-on | Price |
|---|---|
| Each additional Form 5472 (extra related party) | $99 |
| Missed or late prior-year Form 5472, with reasonable-cause statement | $499 per year |
| Form 5471, dormant or simple foreign corporation | From $695 |
| Form 5471, active foreign corporation | Quote after review |
| Delaware LLC annual tax filing | $75 plus state fee |
| Texas franchise tax report and Public Information Report | $149 |
| Multi-member LLC (Form 1065) or foreign-owned C-corp (full Form 1120) | Quote after review |
| Books above the package limits, or several years behind | Free Books X-Ray quote |
State fees and IRS penalties are not included in any price.
How it starts
How to file Form 5472 and pro forma 1120 with us
1. Tell us about your LLC
State, formation date, owner details, and the tax years you need.
2. Share your statements
Your US bank and payment account statements for the year.
3. We prepare, you review
You get the draft return and a short summary of the transactions reported.
4. We file and confirm
We fax it to the IRS and send you the confirmation.
Before you ask
Form 5472 questions foreign owners ask first
General information for foreign-owned US LLCs, not tax advice for your situation.
Who has to file Form 5472?
A US corporation that is at least 25% foreign-owned, and a US single-member LLC owned by a foreign person. The single-member LLC files Form 5472 attached to a pro forma Form 1120, even though it normally files no income tax return.
My LLC had no income. Do I still need to file?
Usually yes. The test is reportable transactions, not income. Money you put into the LLC, money you take out, and expenses you pay on its behalf all count. If we find no reportable transactions, we tell you in writing.
When is Form 5472 due?
For a calendar-year LLC, April 15. Filing Form 7004 extends it to October 15. Extensions are included in our packages.
What if I missed earlier years?
File as soon as possible. We prepare each missed year with a reasonable-cause statement explaining why it was late, which is the standard way to ask the IRS not to apply the penalty. Relief is not guaranteed, but filing late is better than not filing.
Do I need an ITIN to file Form 5472?
Not for this filing. Your LLC needs an EIN. Form 5472 asks for the owner’s US or foreign tax number if you have one, and there are other ways to identify the owner if you do not.
Can Form 5472 be e-filed?
Not for a foreign-owned single-member LLC. The IRS requires these returns to be faxed or mailed. We fax it and keep the confirmation for you.
Do you also handle Form 5471?
Yes. Form 5471 is for US persons who own or control a foreign corporation. Simple and dormant cases start at $695. Active companies are quoted after review.
What do you need from me to start?
Your LLC formation details, EIN, owner details, and your US bank and payment statements for the year. If anything else is needed, we ask once, clearly.
Get this year’s Form 5472 off your mind
Ready to file? Start your 5472 today. Not sure yet? Ask us first. Either way, an Enrolled Agent replies within one business day.