Do you need to file Form 5472?
Answer four questions. Missing this form costs $25,000 per form, so it is worth a minute.
You likely need Form 5472 for your foreign owner
It is attached to your Form 1120, due April 15 for calendar-year companies, or October 15 with an extension.
$25,000 per form per year, plus $25,000 for each further 30 days after an IRS notice. General information, not tax advice.
Form 5472 in plain English
What is Form 5472?
An IRS information return that a 25% foreign-owned U.S. corporation, or a foreign-owned single-member LLC, files to report transactions with related parties such as its foreign owner.
Who counts as a 25% foreign shareholder?
A foreign person who owns, directly or indirectly, at least 25% of the voting power or the value of the company at any time during the tax year.
What is the penalty for not filing?
$25,000 for each form each year, plus $25,000 for each 30-day period the failure continues after 90 days from an IRS notice.
Can a foreign-owned single-member LLC e-file Form 5472?
No. It files a pro forma Form 1120 with Form 5472 attached by fax or mail, as the IRS instructions describe.
Source: IRS, Instructions for Form 5472 (Rev. December 2024), irs.gov/instructions/i5472, checked 28 Sep 2026. General information, not tax advice.