Setup and compliance
Foreign-owned LLC compliance support
Finbryn prepares the records and information-return data a foreign-owned US LLC needs for Form 5472 and a pro-forma Form 1120, a filing with a penalty starting at $25,000 per related party if missed. Related-party transactions are logged through the year and reviewed by a credentialed signer.
Compliance calendar
Illustrative client · August 2026
USD
- Entity formed and registration numbers recordedDone
- Chart of accounts set up for your modelDone
- Annual report date added to the calendarDone
- Sales tax or VAT position confirmedIn progress
- First filing prepared for reviewNext
Illustrative. An example of the document, not a client's figures.
Why this filing carries the highest stakes on the calendar
A US LLC that is wholly owned by a foreign person and treated as a disregarded entity for tax purposes is required to file Form 5472 together with a pro-forma Form 1120, reporting transactions between the LLC and its foreign owner. Missing the deadline or failing to maintain the required records triggers a penalty starting at $25,000 per related party, with an additional $25,000 for every 30-day period the failure continues beyond 90 days after IRS notice, and no statutory maximum. That is a materially different risk profile from most other compliance filings this business handles.
What has to be tracked through the year
The filing depends on an accurate related-party transaction log: capital contributions, loans between the LLC and its owner, and any other reportable transaction. Reconstructing this from twelve months of bank statements after the fact is where most of the risk lives, so we log it as it happens instead, alongside the entity's regular bookkeeping.
Beneficial Ownership Information, separately
Since August 14, 2026, FinCEN no longer requires a BOI report from a US-formed entity, including a foreign-owned one, though a foreign entity itself registered to do business in the US may still owe one. The Form 5472 obligation above is unrelated to BOI reporting and stays in effect regardless.
Who signs
A pro-forma Form 1120 attached to Form 5472 is a signed federal filing. We prepare the underlying data and reconcile it against the transaction log well ahead of the deadline, then hand it to a credentialed signer, a PTIN-holding preparer with unlimited IRS representation authority, for review and signature.
Questions
Frequently asked questions: Foreign-owned LLC compliance support
What is Form 5472 and who has to file it?
It is an information return for a US entity with significant foreign ownership, or in this case a US LLC wholly owned by a foreign person and treated as disregarded, reporting reportable transactions between the entity and its foreign owner.
What happens if we miss the Form 5472 deadline?
The penalty starts at $25,000 per related party and adds another $25,000 for each 30-day period the failure continues beyond 90 days after an IRS notice, with no statutory cap. That is why the related-party log is kept current through the year rather than assembled at deadline time.
Do you sign our Form 5472 for us?
No. A pro-forma Form 1120 filed with Form 5472 is a signed federal return, and we route it to a credentialed signer for review and signature. Our role is keeping the transaction records and preparing accurate data ahead of that step.
What does foreign-owned LLC compliance support actually include, month to month?
Foreign-owned LLC compliance support covers ownership structure documented against the entity's reporting obligations, along with related-party transaction log maintained through the year, not rebuilt at year end. The work runs inside QuickBooks Online, Xero or Google Workspace, the file stays under your own subscription, and a senior principal reviews the output before it reaches you each period.
What access do you need to start foreign-owned LLC compliance support?
View or edit access to QuickBooks Online, Xero or Google Workspace is enough to begin; nothing about your existing subscription or login changes on our side. Any additional access needed for a specific deliverable, such as a bank portal or receipt inbox, is agreed with you first, and the scope is set out in your engagement letter.
Does a foreign-owned LLC have extra filing requirements?
Often yes, once it is treated as a disregarded entity with a foreign owner. The specific form and threshold depend on ownership structure and activity, which is why we document the structure first.
Who actually signs the filing?
A credentialed signer reviews and signs; our role is keeping the underlying records and transaction data accurate and ready well before the deadline.
What if our records for foreign-owned LLC compliance support are not up to date?
If your records are behind, we scope a catch-up first so foreign-owned LLC compliance support starts from a clean, reconciled base. That catch-up is priced and timed separately from the ongoing engagement, so you always know what each part costs.
Who reviews the work before it reaches us?
Every deliverable under foreign-owned LLC compliance support is reviewed by a senior principal before it reaches you. You keep access to the underlying file at every stage, so nothing about the work happens somewhere you cannot see it.
Related services
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Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.