In short: even an LLC with no income has to report. Non-residents most often forget Form 5472 — and the penalty for missing it is $25,000. We track your deadlines and prepare and file the reports.
What an LLC files
- Form 5472 + pro forma 1120 — every year for a single-member LLC with a foreign owner. It reports transactions between the company and its owner: contributions, distributions, loans.
- Form 1065 and K-1s — for LLCs with several owners.
- State annual report — in most states; the deadline and fee depend on the state. Some states do not require one.
- State taxes and returns — franchise tax, sales tax, etc., if they apply to you.
- Other IRS forms — depending on the business, for example if the company pays US contractors.
The list of filings for your state is on the US states page.
How we work
- We build a calendar — every filing and deadline for your company.
- We collect the data — statements and transactions for the year.
- We prepare the filings — IRS forms and the state report.
- We file — and send you copies and confirmations.
- We remind you next year — well in advance.
What we need from you
- LLC documents and EIN.
- Bank and payment system statements for the year.
- Information about contributions and distributions to the owner.
Timing
Depends on the form and the state. For a calendar-year Form 5472 the deadline is in the spring of the following year, and it can be extended. Annual report deadlines are on the state pages.
Price
- Form 5472 and other filings — on request, depending on the number of transactions.
- Filing reminders — included in Standard ($299) and Premium ($399).
- Certificate of Good Standing — from $129.
FAQ
My company had no income. Do I still need to file?
Yes. Form 5472 is required even with no income if there were transactions with the owner — and there almost always are (paying the formation costs, for example).
What is the penalty for not filing Form 5472?
$25,000 per form, per year.
I missed filings for past years. What should I do?
Contact us as soon as possible: we will review the situation, and our lawyers will advise on next steps.
What is a Certificate of Good Standing?
A state document confirming that the company is active and up to date with its filings. Banks often ask for it.