What goes on Form 5472 Part V — and when do I actually have to fill it out?
I'm filing Form 5472 for my Wyoming LLC for the 2026 tax year. Parts IV (monetary) and VI (Items Affecting Foreign Owner) I sort of understand, but Part V is confusing — the heading says 'Reportable Transactions of a Reporting Corporation with a Foreign Related Party Where No Specific Amount is Set,' which sounds like everything. Do I always have to put something in Part V, or only in certain cases?
Related Questions
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...
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...
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...
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 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...
What changed in the December 2024 revision of Form 5472 compared to the prior version?
I'm preparing my foreign-owned Wyoming LLC's 2026 Form 5472 and the IRS site now shows the current revision is dated December 2024. My prior return was filed on an older revision. Are there meaningful...
Form 5472 Part VI — do I need to attach a statement about the owner being the manager?
My CPA added an extra attachment to my Form 5472 filing labeled 'Part VI' that says 'THE FOREIGN RELATED PARTY IS THE MEMBER MANAGER OF THE REPORTING CORPORATION.' He told me this discloses the nonmon...
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 ...
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...
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 ...
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.
