ForeignLLCTax

DIY bookkeeping prep

Turn messy records into a tax-ready organizer

Pick the filing path and the types of records you have. The organizer maps your bookkeeping file to the tax outputs a foreign-owned LLC owner actually cares about: Form 5472 records, Form 1065 worksheets, ECI support, tax ID applications, and catch-up binders.

Educational organizer, not bookkeeping or tax advice.

This tool does not connect to your bank or prepare books for you. It gives a record checklist and tax-prep map so you can organize your own file before using a filing wizard or talking to a tax professional.

1. What are you organizing for?

2. Which record types do you have?

Foreign-owned single-member LLC

Build the Form 5472 / pro forma 1120 record file before filling the return

Use this as your folder structure before importing a JSON backup, filling a wizard, or sending records to a tax professional.

Start the Form 5472 filing wizard→Classify Form 5472 transactions→Check related-party method support→

Tax outputs this supports

  • Form 5472 reportable-transaction support
  • Pro forma Form 1120 identification and balance-sheet wrapper
  • Part IV / Part V related-party transaction summary

Core books and supporting documents

core

IRS recordkeeping guidance focuses on keeping documents that prove income, deductions, assets, and return positions.

Collect

  • Business bank statements for the tax year
  • Payment processor exports showing gross receipts, fees, refunds, and reserves
  • Sales invoices, receipts, and customer/refund records
  • Expense receipts and vendor invoices tied to each deduction category
  • Year-end cash, receivables, payables, asset, and liability balances

Maps to

  • Recordkeeping support for every filed return and worksheet

Owner and related-party money trail

core

Form 5472 is driven by reportable transactions with foreign or domestic related parties, not just ordinary sales.

Collect

  • Capital contributions from the owner
  • Distributions or withdrawals to the owner
  • Owner-paid formation costs or reimbursements
  • Loans, interest, rents, royalties, management fees, or service fees with related parties
  • Written notes, invoices, agreements, and transfer-pricing support for material related-party amounts

Maps to

  • Form 5472 Part IV
  • Form 5472 Part V statement
  • Transfer-pricing documentation file

Payment-platform reconciliation

conditional

Processor deposits usually net out fees, reserves, refunds, and chargebacks; tax returns often need the gross story.

Collect

  • Gross sales export
  • Fees and refunds export
  • Reserve/holdback activity
  • 1099-K or platform annual statement if issued

Maps to

  • gross receipts
  • returns and allowances
  • processor-fee deductions

Owner money in / money out

conditional

Owner contributions, distributions, reimbursements, and owner-paid costs often drive Form 5472 or partner-capital workpapers.

Collect

  • Owner contribution log
  • Distribution/withdrawal log
  • Owner-paid expense reimbursements
  • Capital account notes

Maps to

  • Form 5472 related-party totals
  • partner capital worksheet
  • balance-sheet support

Review before you rely on the file

  • Do not treat bank deposits alone as a completed Form 5472 file; related-party classification and support matter.
  • Do not fill unrelated Form 1120 income lines just because the bookkeeping system can produce a profit-and-loss report.

Official sources to verify

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