I am in Mexico and assumed the treaty meant the LLC filing would be light. Why am I still hearing about Form 5472?
I live in Monterrey and own a Wyoming LLC for remote product design services. Almost all work is done in Mexico, and I originally thought the U.S.-Mexico treaty meant the annual U.S. compliance would be pretty light unless I opened an office in the U.S.
Now my preparer is telling me that Form 5472 can still matter because the LLC is foreign-owned and I personally paid several startup costs. I want to know whether I made the same mistake many founders make by mixing treaty analysis with entity reporting.
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