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 accountant just offsets several entries against the owner ledger instead of moving actual cash. Because nothing hit the bank on those specific entries, I started assuming Form 5472 would not care.
But now I am not so sure. If the form is about related-party transactions rather than bank wires only, maybe these offsetting entries still need real analysis. I want to know whether noncash or bookkeeping-only settlements can still show up in the Form 5472 filing story.
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