Real Tax Questions, Expert Answers
Get answers to your foreign-owned LLC tax questions from ForeignLLCTax. Every answer includes IRS source citations and step-by-step guidance.
I'm an F-1 student with no U.S. income. Do I still need to file Form 8843?
I'm an international student on an F-1 visa and I arrived in the U.S. in August 2025 for a 4-year undergraduate program. I don't have a job or any U.S. source income — I'm fully funded by my family ba...
My bank application for my foreign LLC was denied twice. What am I doing wrong?
I'm from Brazil and I formed an LLC in Wyoming about two months ago. I've tried opening a bank account at Mercury and got denied both times. The denial email just says "we're unable to open an account...
How does the U.S.-Canada tax treaty handle estate tax for Canadian LLC owners?
I'm a Canadian citizen with a U.S. LLC that earns income from consulting services. I also have a U.S. brokerage account with about $500,000 in stocks. My worldwide estate is about $4 million. How does...
Does my foreign LLC need to worry about the $10,000 cash transaction reporting rule?
I've read that banks are required to report cash transactions over $10,000. My foreign LLC occasionally receives large client payments — sometimes $15,000-$20,000 at a time via ACH or wire transfer. ...
How does FIRPTA apply to a multi-member LLC taxed as a partnership? Two foreign owners selling property.
My business partner and I (both non-resident aliens from France) own a 50/50 multi-member LLC in Florida that holds a commercial property. We're planning to sell the property next year. I understand F...
What are the tax implications of my foreign-owned LLC participating in a DAO?
My LLC holds governance tokens for a major DeFi DAO and I actively vote on proposals. The DAO also distributes revenue to token holders. I'm trying to understand: 1. Is holding DAO governance tokens ...
What is the branch profits tax under IRC 884 and how does it apply to foreign corporations?
I'm a foreign corporation doing business in the U.S. through a branch (not a subsidiary). My U.S. tax advisor mentioned something called the 'branch profits tax' in addition to regular corporate incom...
What are all the reporting obligations when a non-resident alien LLC owner dies?
My business partner (a non-resident alien from Nigeria) recently passed away. He was the sole owner of a U.S. LLC. I've been helping his family sort things out but I'm overwhelmed by the number of for...
Does a foreign-owned LLC in Florida need to pay the Florida corporate income tax?
I formed an LLC in Florida because I heard it has no personal income tax. I'm from Brazil and I sell digital products online. My LLC is a single-member entity and I'm the sole owner. A friend told me...
Does FIRPTA apply to my rental income, or only when I sell the property?
I own a rental property in Atlanta through my foreign-owned LLC. I've been collecting rent for 3 years. Nobody has mentioned FIRPTA for the rental income, only when I eventually sell. But a friend tol...
I live overseas and need my CPA to handle IRS matters for my LLC. How does Form 2848 work?
I'm a foreign owner of a U.S. LLC and I live in South Korea. I want to authorize my U.S.-based CPA to communicate with the IRS on my behalf, receive copies of notices, and respond to any correspondenc...
What specific transaction patterns trigger SAR filings for foreign-owned LLCs?
I am a German citizen running a foreign-owned LLC that provides digital marketing services. My clients are mostly in Europe and pay me through international wire transfers. Some months I get 10 wires ...
My bank is asking for 'Enhanced Due Diligence' documents — what is EDD and why am I flagged?
I have had a U.S. LLC bank account at a regional bank for about two years. I am from India and my LLC does software development. Last week my bank sent me a letter requesting additional documentation ...
Is swapping one cryptocurrency for another a taxable event for my foreign-owned LLC?
I traded ETH for BTC on Uniswap through my LLC. No USD was involved at all — it was purely a crypto-to-crypto swap. A friend told me this isn't taxable because I didn't convert to fiat, but I've also ...
First year with the LLC — what records should I be keeping?
I just formed my LLC this month. What records and documents should I start keeping from day one to make my Form 5472 filing easier next year?
Does my foreign-owned LLC need to pay the Texas franchise tax even though Texas has no income tax?
I keep hearing that Texas has no state income tax, which is why I formed my LLC there. But now my accountant is telling me about a "franchise tax" or "margin tax" that I might owe. I'm a Canadian citi...
What is FUTA and how much does a foreign-owned LLC pay for federal unemployment tax?
I keep seeing references to FUTA when reading about employer taxes for my foreign-owned LLC. I understand FICA but FUTA is confusing me. Is this separate from state unemployment tax? How much is it? I...
How does IRC 163(j) business interest limitation affect my foreign-owned LLC that has a loan from its parent company?
I'm a UK citizen and my UK company lent $500,000 to my U.S. LLC at 6% interest. My CPA says IRC 163(j) might limit how much of that interest my LLC can deduct. She mentioned something about '30% of ad...
What makes a foreign corporation a Controlled Foreign Corporation (CFC)?
I've been told my foreign company might be a CFC, but I'm not sure I understand the definition. I'm a U.S. green card holder and I own 30% of a company incorporated in the UK. My brother, who is also ...
Does Bitcoin mining through my foreign-owned LLC create a U.S. trade or business?
I'm a foreign national who set up a Wyoming LLC to operate a small Bitcoin mining operation. The mining rigs are physically located in Texas (cheap electricity). I manage everything remotely from abro...
How does FICA tax work for foreign LLC employers — do I pay both employer and employee shares?
My foreign-owned LLC in Florida has two employees. I understand I need to pay FICA taxes but I'm confused about the split. Do I withhold the employee's portion from their paycheck AND pay a separate e...
Does PayPal count as a US bank account for FBAR purposes?
I have a PayPal business account linked to my LLC. It sometimes holds significant balances. Does this count toward the $10,000 FBAR threshold?
I received a Form 1042-S showing U.S. tax was withheld on my income. How do I get a refund?
I'm a UK resident and I received dividends from a U.S. company. They withheld 30% but I think the U.S.-UK treaty rate is only 15% for dividends. I got a Form 1042-S showing the withholding. How do I c...
Can a tourist form a U.S. LLC?
I am visiting the U.S. as a tourist on a B-2 visa and I want to form an LLC while I am here. I have heard that anyone can form an LLC in the U.S. regardless of citizenship. Is this true, and can I do ...
Can I get a virtual debit card for my foreign LLC without a U.S. address?
I need a virtual debit card for my foreign-owned LLC to pay for online services like hosting, software subscriptions, and Google/Facebook ads. I have a Mercury account but I'm not sure if I can get a ...
Can I appoint someone in the U.S. to handle my foreign-owned LLC's payroll tax filings using Form 2678?
I'm a foreign owner of a U.S. LLC and I live overseas. Managing payroll tax deposits and filing Form 941 from abroad is difficult. I heard about Form 2678 that lets you appoint a fiscal agent to handl...
My CPA mentioned IRC 267 and said I can't deduct certain expenses paid to my own foreign company — why?
I'm a Brazilian citizen and I own both a consulting firm in Brazil and a Delaware LLC. My Brazilian company provides back-office services to the LLC and charges a monthly fee. My CPA said IRC 267 rest...
Amazon FBA seller — do I need Form 5472?
I'm a foreign seller on Amazon FBA. Amazon handles everything — warehousing, shipping, payments. Do I still need to file Form 5472 for my US LLC even though Amazon manages all the operations?
How are NFT sales taxed for a foreign-owned U.S. LLC? Are NFTs treated like other crypto?
My LLC mints and sells NFT art on OpenSea. I'm the artist and I'm based in Brazil. The NFTs are sold for ETH and I also earn royalties on secondary sales. I've made about $30,000 worth of ETH from pri...
Can a foreign LLC owner build business credit in the U.S.?
I've heard that building business credit is important for U.S. companies. My foreign-owned LLC has been operating for about a year with consistent revenue. I don't have a personal U.S. credit history ...
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