I paid several LLC bills personally and never reimbursed myself. Does that still need a clean Form 5472 story?
I live in Colombia and my Delaware LLC was underfunded for most of the year, so I kept paying subscriptions, contractors, and filing fees from my personal foreign cards. I never reimbursed myself because I assumed I could sort it out later once the business had more cash. Now the books show a pile of founder-paid items with no real explanation attached.
I want to know whether the lack of reimbursement makes the record cleaner or messier. My main concern is whether Form 5472 preparation becomes harder when founder-paid expenses were real, but the business never formally repaid them or labeled them at the time.
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I keep wiring money from my personal foreign account into the LLC. How do I decide whether that was capital or a loan for Form 5472?
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My adviser keeps talking about reasonable cause, but I think the penalty may be wrong on basic liability first. Does that distinction matter?
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My accountant filed Form 7004 for the LLC. Does that also extend my own 1040-NR deadline?
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