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 survive until launch. The business never made a sale that year, so I kept assuming the tax side would be easy because there was no revenue.
Now I am hearing that zero revenue does not mean zero Form 5472 risk if there were reportable transactions with the foreign owner. I want to know whether owner funding and startup payments can still make the filing mandatory even in a year where the company looked almost inactive from a normal business point of view.
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