Q: Step-by-step procedure

The section of law behind each step is shown beside it. 1 Year-end records — Bank statements and all transfers with the owner. 2 Prepare 5472 and 1120 IRS Reportable transactions listed. 3 File by required method IRS Foreign-owned disregarded entities can't e-file 5472. 4 State report State Annual report and fees. 5 Registered agent State Renew to keep the company in good standing.

Question 1

When this applies

Accepted Answer

You own a US LLC or corporation from outside the US.

Question 2

Time limits, fees and sections

Accepted Answer

Item Rule Section Form 5472 + pro forma 1120 Every year, by the return due date (extendable with Form 7004) IRS Penalty $25,000 per missing or late Form 5472 IRS State report Annual report or franchise tax by the state's date State law BOI Not required for US-formed companies FinCEN, August 2026

Question 3

Step-by-step procedure

Accepted Answer

The section of law behind each step is shown beside it.

1
Year-end records—
Bank statements and all transfers with the owner.
2
Prepare 5472 and 1120IRS
Reportable transactions listed.
3
File by required methodIRS
Foreign-owned disregarded entities can't e-file 5472.
4
State reportState
Annual report and fees.
5
Registered agentState
Renew to keep the company in good standing.

Question 4

Documents to prepare

Accepted Answer

EIN Bank statements Owner transactions list

Question 5

Practical tips

Accepted Answer

Even a single capital contribution is a reportable transaction

Item	Rule	Section
Form 5472 + pro forma 1120	Every year, by the return due date (extendable with Form 7004)	IRS
Penalty	$25,000 per missing or late Form 5472	IRS
State report	Annual report or franchise tax by the state's date	State law
BOI	Not required for US-formed companies	FinCEN, August 2026