Form 5472 & Foreign-Owned LLCs

Should I close my US LLC before year-end to avoid another filing?

DC
delawarenewb_c150new member
October 2, 2024 174 views 0 answers
LLC closureyear-endfinal filing

I'm not using my LLC anymore. If I close it before December 31, do I avoid having to file Form 5472 for this year? Or is there still a final return required?

Related Questions

Form 5472Pending

Can I dissolve my LLC to avoid future Form 5472 filings?

I'm not using my LLC anymore and the annual filing requirement is a hassle. If I dissolve the LLC, do I still need to file Form 5472 for the final year? What's the process?

NC
nooruae_cb1a·Apr 2, 2018
7200
Form 5472Pending

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?

K6
katerina_6f0e·May 11, 2019
6620
Form 5472Pending

What happens if my LLC had only $50 in the bank account the whole year?

My LLC literally only has $50 from the initial deposit. No revenue, no expenses beyond the registered agent fee. Do I still need to file Form 5472 for this?

CD
chen_d3f6·May 12, 2022
4460
Form 5472AnsweredFeatured

My single-member LLC made no money this year. Do I still need to file taxes for it?

I'm a British citizen who formed a single-member LLC in Delaware through Firstbase about 8 months ago. I haven't launched my product yet so the LLC has $0 in revenue. Do I still need to file anything ...

TG
tom_gb_b2c5·Jul 26, 2024
1,7891
Form 5472Pending

Does my registered agent need to know about Form 5472?

My registered agent only handles state compliance stuff. Do they need to be involved in my federal tax filing at all? Or is Form 5472 completely separate?

L1
laurab_1078·Sep 20, 2024
6150
Form 5472Pending

How do I report crypto income in my LLC?

My LLC received payments in Bitcoin and Ethereum. How do I report this on Form 5472? Is crypto considered a reportable transaction?

P7
paulabrazil_76f6·Dec 26, 2023
1980
Form 5472Pending

My accountant charged me $800 for a zero-income Form 5472 filing. Is that normal?

I have a single-member LLC with literally zero transactions. My CPA charged $800 to file Form 5472 + pro forma 1120. That seems really high for what should be a simple return. What do others pay?

CE
confusedexpa_e47c·May 25, 2022
3360
Form 5472Pending

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?

PC
patricko_cfa2·Oct 11, 2018
1450
Form 5472Pending

Can I file Form 5472 myself or do I absolutely need a CPA?

My LLC had zero revenue this year. It seems like the filing should be pretty simple for a zero-income LLC. Is it realistic to do this myself or is it too risky without professional help?

TF
thomask_fi_53a2·May 25, 2021
6920
Form 5472Answered

Can I mix typed and handwritten entries on Form 5472? My software only printed '202' in the year field and I added the '5' by hand.

I used a filing tool to generate my Form 5472 and pro forma 1120. When I printed the forms, I noticed the year field only shows '202' instead of '2025.' I handwrote the '5' to complete it. Also, a fe...

J7
jason_7a79·Jun 14, 2020
1,2451

Have a similar question?

ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.

Become a Member — $9.99/mo

Disclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.

Watch the walkthroughs