Form 5472 & Foreign-Owned LLCsAnswered

What is the difference between line 1f and line 1g on Form 5472?

TN
tomi_ng_6929new member
December 30, 2024 1,730 views 1 answer
form-5472line-1fline-1gnigeriatotalsforeign-owner

I am in Nigeria and helping my preparer organize data for a Delaware LLC's Form 5472. The instructions for line 1f and line 1g both seem to ask for total values, and I do not understand why there are two lines if we only have one foreign owner and one form.

I want to avoid sending inconsistent totals because that seems like the kind of small mistake that later becomes a bigger compliance problem.

Related Questions

Form 5472Answered

If I net everything through one owner ledger, can that make Form 5472 'substantially incomplete' even when the total balance is right?

My books currently collapse contributions, reimbursements, direct owner-paid bills, and later withdrawals into one running owner balance. The ending number is probably correct economically, but the pa...

J1
javier_1604·Oct 9, 2025
1,8171
Form 5472Answered

My LLC had transactions with me personally and with my Hong Kong company. Is one Form 5472 enough?

I own a Delaware LLC personally from the UAE, but I also have a Hong Kong company that provided development and admin support to the LLC during the year. The LLC received funding from me as the owner ...

NA
nasser_a96a·Aug 8, 2025
1,8881
Form 5472Answered

This is my LLC's first year filing Form 5472. Does checking the first-year box help with penalties if we make a mistake?

I am in Germany and my Delaware LLC is filing Form 5472 for the first time. I noticed the instructions mention a line asking whether this is the first year the reporting corporation has filed the form...

LD
lars_de_a574·Dec 28, 2024
1,8701
Form 5472Answered

I wired money into the LLC and later took some back out. How do I know if that was a loan or capital for Form 5472?

I am based in Brazil and funded my Wyoming LLC several times during the year because Stripe payouts were delayed. In total I put in about $32,000 and then took back roughly $11,000 over a few months o...

L0
lucas_040b·Aug 9, 2025
1,7621
Form 5472AnsweredFeatured

I paid LLC costs personally from India. Which Form 5472 section do those usually affect?

I own a Delaware single-member LLC from India and I am trying to prepare records for Form 5472. During the year I paid AWS, legal fees, and some contractor invoices personally before reimbursing mysel...

RI
rishi_in_edc9·Dec 22, 2024
3,0101
Form 5472Answered

We already filed the final return and closed the LLC. Can I finally delete the old Form 5472 records?

The business is no longer operating, which makes the archive feel like dead weight. I would love to reduce the storage burden and clean up the cloud folders, but I do not want to confuse business clos...

M5
mazen_5eae·Oct 20, 2025
1,4981
Form 5472Answered

Where do owner reimbursements go on Form 5472 Part IV — and do they always need a code?

I run a foreign-owned single-member Wyoming LLC and routinely pay for SaaS subscriptions, advertising, and small contractor invoices from my personal foreign card because the U.S. business card was sl...

N3
nguyen_3ee7·May 8, 2026
01
Form 5472Answered

My preparer says a workpaper index is optional, but I keep losing time finding support. Is building one worth it?

Every time a bank, accountant, or internal reviewer asks about related-party flows, we end up re-opening the same folders and recreating the same explanations. That makes me think the file may technic...

MA
marwan_ae3d·Oct 10, 2025
1,5981
Form 5472Answered

We already filed Form 5472, but I just found a missed owner reimbursement. Do we amend immediately?

My accountant filed the pro forma 1120 and Form 5472 for my single-member LLC, and a month later I realized one owner reimbursement never made it into the books before the return went out. It is not a...

C0
chen_0767·Aug 11, 2025
1,6391
Form 5472Answered

There was no bank transfer, just an owner ledger offset. Can that still matter on Form 5472?

My Netherlands LLC owner account moves all year because sometimes I leave money in the company and sometimes I let the company cover costs that I would otherwise reimburse later. At year-end the accou...

IE
iris_ee08·Aug 12, 2025
1,4981

Have a similar question?

ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.

Become a Member — $9.99/mo

Disclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.

Watch the walkthroughs