What Is Form 5472?

Form 5472 is an IRS information return that foreign-owned US corporations and LLCs must file every year. Its official name is “Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business.”

Who must file?

You must file Form 5472 if your US LLC meets both of these conditions:

• At least one foreign person owns 25% or more of the LLC (directly or indirectly)
• The LLC had any reportable transactions with a related foreign party during the tax year, this includes sales, payments, loans, advances, contributions, or distributions

A common misconception: you only need to file if the LLC had revenue. This is wrong. Even a dormant LLC with zero revenue must file if the ownership threshold is met and any transaction occurred, including a capital contribution from the foreign owner.

What does Form 5472 report?

Form 5472 reports the identity of the 25% foreign owner and details of all reportable transactions between the LLC and related foreign parties during the year. It is filed together with a pro forma Form 1120 (US corporation income tax return), even if the LLC owes no tax.

When is Form 5472 due?

For calendar-year LLCs, the due date is April 15. With a Form 7004 extension, the deadline moves to October 15. Both the Form 5472 and the pro forma 1120 are filed together.