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Form 5472 filing, included for every foreign owner

Form 5472 is where most foreign-owned companies get caught out. Durity finds the owner transactions in your books as they come in, so the form is ready with your return.

What's included

  • Form 5472 for every foreign owner, in the monthly price
  • For a corporation, filed with Form 1120; for a foreign-owned single-member LLC, with a pro forma Form 1120
  • Possible owner and related-party transactions flagged as they arrive
  • A worksheet for the preparer, grouped by type of transaction
  • Every line checked by the preparer before filing

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How it works

  1. Owner transactions are flaggedMoney to or from an owner, a founder or a related company is set aside and asked about, instead of being guessed.
  2. You say what each one wasA loan, a capital contribution, a payment for services: pick the closest answer, or add a note.
  3. The worksheet is preparedThe transactions are grouped by type for the preparer, who checks every line.
  4. It is filed with the returnForm 5472 goes with Form 1120 or the pro forma Form 1120, after you approve the return.
Questions

Good to know

Who has to file Form 5472?

A U.S. corporation that is 25% or more foreign-owned, and a U.S. single-member LLC owned by a foreign person, generally file it to report transactions with the foreign owner and other related parties. The free checker on this site walks through the questions.

What does it cost if it is missed?

The IRS penalty is $25,000 per form per year, plus $25,000 for each 30-day period it continues after 90 days from an IRS notice.

Is Form 5472 extra?

No. It is included in the monthly price for every foreign owner.

Check if you need to file · What Durity does for Form 5472