My foreign-owned LLC had zero income this year. Do I still need to file Form 5472?
I formed a single-member LLC in Wyoming through Stripe Atlas about a year ago. I'm a non-US person living in Germany. The LLC hasn't made any money yet — it's basically dormant. I did put about $2,000 into the bank account to keep it open and paid for a registered agent.
Do I really need to file Form 5472 + pro forma 1120 if my LLC earned nothing? The penalty is $25,000 which seems insane for a company with zero revenue. Some people online say you don't need to file if there's no income, but others say you always have to. Which is it?
Related Questions
My single-member LLC made no money this year. Do I still need to file taxes for it?
I'm a British citizen who formed a single-member LLC in Delaware through Firstbase about 8 months ago. I haven't launched my product yet so the LLC has $0 in revenue. Do I still need to file anything ...
Does having no U.S. tax due exempt my foreign-owned single-member LLC from Form 5472 in tax year 2026?
I formed my single-member LLC last year. The business made nothing this year, so I owe no U.S. federal tax. Does that mean I can skip the Form 5472 filing for tax year 2026? I keep seeing conflicting ...
Do I need books and records for Form 5472 if my LLC is tiny in 2026?
My LLC barely operates and the related-party transactions are small. Do I really have to keep formal books to back up the Form 5472 for 2026?
My LLC had no sales, only bank fees and owner funding. Do I still have a Form 5472 issue?
This was basically a setup year for my U.S. LLC. I am in Pakistan, opened the company, got the EIN, paid formation and banking costs, and moved about $6,500 from myself into the LLC so it could surviv...
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 ...
Do I report forming, dissolving, or distributing money from my LLC on Form 5472 for 2026?
My LLC is brand-new this year. I funded it with my own money to start operations and now I'm thinking about whether to distribute back to myself. Are formation contributions and any future distributio...
What is IRC 6038A and why does my single-member LLC have to file Form 5472 with a $25,000 penalty?
I'm an Indian citizen living in Mumbai. I formed a single-member LLC in Wyoming two years ago for an online consulting business. I just learned about IRC 6038A and Form 5472 from a tax forum. Apparent...
What happens if my LLC had only $50 in the bank account the whole year?
My LLC literally only has $50 from the initial deposit. No revenue, no expenses beyond the registered agent fee. Do I still need to file Form 5472 for this?
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...
I have dual US-Brazilian citizenship. Do I need Form 5472 for my LLC or just Form 1040?
I was born in Brazil to an American parent so I have both US and Brazilian citizenship. I've lived in Brazil my whole life and recently formed an LLC in Delaware for my software consulting business. A...
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/moDisclaimer: 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.
