Tax prep support
Foreign-owned LLC reporting support (Form 5472)
Finbryn prepares Form 5472 and the pro forma Form 1120 that a foreign-owned, single-member US LLC must file, tracking related-party transactions through the year so the filing package is ready well before the deadline instead of assembled from memory.
Tax working papers
Illustrative client · August 2026
USD
- Year-end books closed and reconciledDone
- Fixed asset and depreciation scheduleDone
- Book-to-tax adjustments listedDone
- Supporting schedules for the preparerIn progress
- Handed to the signer for review and filingNext
Illustrative. An example of the document, not a client's figures.
Built for the foreign founder's LLC
A single-member US LLC wholly owned by one foreign person and treated as disregarded has to file Form 5472 along with a pro forma Form 1120, even with zero US income and zero US activity beyond forming the entity. This is common for GCC and international founders using a US LLC as their operating or holding vehicle, and we build the required transaction log from your books rather than reconstructing it in a hurry each spring.
Why the penalty makes this urgent
A late or missing Form 5472 carries an initial penalty of at least $25,000 per related party, with additional $25,000 increments for each 30-day period the failure continues beyond 90 days after IRS notice, and no statutory cap. We flag reportable transactions as they happen through the year specifically so this filing is never assembled under deadline pressure.
What counts as a reportable transaction
Capital contributions, loans between the LLC and its foreign owner, and payments for services or goods between related parties all need to be logged, even at $0 or nominal value in a formation year. We build this log inside your regular bookkeeping cycle rather than as a separate year-end project.
One less thing to track
Beneficial Ownership Information reporting for US-formed entities was permanently eliminated by FinCEN effective August 14, 2026, so that obligation no longer sits alongside this one for most founders, though we keep an eye on any foreign-entity exceptions that remain.
Where this fits
Pair this with state registration support if the LLC is expanding its US footprint, and with monthly bookkeeping so the transaction log builds itself as the year runs. See pricing for this filing's cost.
Questions
Frequently asked questions: Foreign-owned LLC reporting support (Form 5472)
Does our LLC need to file Form 5472 with zero US revenue?
Yes. A single-member US LLC wholly owned by one foreign person and treated as disregarded files Form 5472 and a pro forma Form 1120 regardless of whether the entity has any US income.
What is the penalty for filing late?
An initial penalty of at least $25,000 per related party, with further $25,000 increments for each 30-day period the failure continues beyond 90 days after IRS notice, and no statutory maximum.
Do we still need to file a Beneficial Ownership Information report?
FinCEN eliminated BOI reporting for US-formed entities effective August 14, 2026; most foreign-owned LLCs formed in the US no longer have that separate filing.
What transactions need to be logged?
Contributions, loans and payments between the LLC and its foreign owner or other related parties, tracked through the year rather than reconstructed at filing time.
What does foreign-owned LLC reporting support (Form 5472) actually include, month to month?
Foreign-owned LLC reporting support (Form 5472) covers related-party transaction log built from your books, along with reportable transaction schedule drafted for the information return. The work runs inside QuickBooks Online, Xero, Wise or Drake Tax, the file stays under your own subscription, and a senior principal reviews the output before it reaches you each period.
Who does this filing apply to?
A single-member US LLC wholly owned by one foreign person and treated as disregarded generally must file this information return, even with no US income.
What happens if it is filed late?
Penalties are substantial and start from the first missed deadline, which is why we build the transaction log through the year rather than at year-end.
Who reviews the work before it reaches us?
Every deliverable under foreign-owned LLC reporting support (Form 5472) 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.
What is included in foreign-owned LLC reporting support (Form 5472)?
Foreign-owned LLC reporting support (Form 5472) covers related-party transaction log built from your books and reportable transaction schedule drafted for the information return. The exact scope is agreed and set out in writing before work starts, so you know precisely what is and is not covered before the first deliverable arrives.
Related services
- Tax prep supportState registration supportSupport for registering a business to operate, collect tax or run payroll in a new state, built around the specific triggers your growth creates.
- BookkeepingMonthly bookkeepingOngoing monthly bookkeeping: transactions sorted into categories, accounts reconciled and month-end reports delivered in the software you already use.
Industries
- Startups and VC-backed companiesBookkeeping and reporting for early-stage, venture-backed companies watching burn, runway and investor reporting closely.
- SaaSBookkeeping and reporting for subscription software businesses tracking recurring revenue, deferred revenue and burn.
- Crypto and web3Bookkeeping for businesses holding, trading or earning cryptocurrency across wallets and exchanges.
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.