US federal & state tax filing
Annual federal and state returns for US LLCs and corporations, including Form 5472 where needed.
Overview
Annual US federal and state filings for foreign-owned LLCs and corporations, including Form 5472 with a pro forma Form 1120 for single-member LLCs.
File Form 5472 and the pro forma 1120 every year by the return due date (extend with Form 7004 if needed). Keep a simple ledger of every transfer between you and the LLC — those are the reportable transactions.
Why it matters
Even with no US income, foreign-owned US companies often have filing duties. Missing them can bring large IRS penalties, so annual compliance is essential.
Who needs this
- Every foreign-owned US LLC or corporation, even with no sales
Actual requirements
- EIN
- Bank statements for the year
- Owner contributions, withdrawals and loans
- Income and expense records
How it works
Who does each step, and how long it usually takes once documents are complete.
- 1RecordsYou
Bank statements and transaction list.
January–February - 2ClassificationTAXWORK
LLC type, US trade or business test, state obligations.
1 week - 3PreparationTAXWORK
5472, pro forma 1120 or 1065/1120 as applicable, and state reports.
1–2 weeks - 4SubmissionTAXWORK
Filed by the method the IRS requires (foreign-owned disregarded entities can't e-file 5472).
By the due date
Documents we need
Tick what you already have, then send the list to us.
What you receive
- Filed 5472 and pro forma 1120 or full return
- State annual report
- Filing confirmation
Deadlines, risks and penalties
- $25,000 penalty for each missing or late Form 5472
- Missing state reports can dissolve the company
Mistakes we fix, and what our fee covers
Common mistakes we fix
- Picking a state without thinking about fees and tax
- Missing Form 5472 for a foreign-owned single member LLC, which carries heavy IRS penalties
- Using a personal account for business payments
- Not renewing the registered agent or state annual report
Included in our fee
- Advice on entity type and state before filing
- Formation, EIN and registered agent arranged
- Operating agreement and compliance calendar
- Support with US bank and payment platform onboarding
Law and references
The sections and rules this service is based on.
- Internal Revenue Code – Form 5472 rules for foreign-owned disregarded entities
- State annual report and franchise tax rules
Questions
How long does it take?
About 2–3 weeks; due with the federal return, extendable with Form 7004. Step by step: Records (January–February), Classification (1 week), Preparation (1–2 weeks), Submission (By the due date).
What are the actual requirements?
EIN; Bank statements for the year; Owner contributions, withdrawals and loans; Income and expense records.
What does it cost?
Our service fee is $300. Government fees are extra where they apply.
What happens if I miss a deadline?
$25,000 penalty for each missing or late Form 5472. Missing state reports can dissolve the company.
We had no income. Do we still file?
Yes. The 5472 requirement doesn't depend on income.
Is there a step-by-step procedure?
US annual filing for a foreign-owned LLC: The yearly cycle that keeps your US company compliant. Open the procedure →
My LLC had no income. Do I still file?
Often yes. Foreign-owned single member LLCs usually file Form 5472 with a pro forma 1120.
Do you handle state filings?
Yes. State annual reports and franchise taxes are included where they apply.
Why clients choose TAXWORK
Individuals, businesses and companies across Pakistan and overseas.
Rawalpindi/Islamabad, Sialkot and Karachi (with Raza Siddiqui & Co., Chartered Accountants).
You get the scope and a fixed fee in writing before any work starts.
Progress updates, and a copy of everything we file or submit for you.
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Send your documents on WhatsApp or book a meeting. A consultant confirms the scope and a fixed fee before any work starts.