Yes. Every foreign-owned single-member LLC must file Form 5472 and a pro-forma Form 1120 with the IRS annually, regardless of whether the company earned any income. Missing this filing triggers an automatic $25,000 penalty, with no cap if it remains unresolved.

The deadline is April 15th each year, covering the prior tax year. For example, if your LLC was active at any point in 2025, your filing is due by April 15th, 2026. We track these deadlines on your behalf and handle everything before the cutoff.

We track all income and expenses flowing through your LLC, categorise transactions, reconcile your bank statements, and produce clean financial records. This gives your in-house CPAs exactly what they need to file your annual returns accurately and on time.

In many cases, foreign-owned single-member LLCs with no US physical presence and no US-source income owe no US federal income tax. However, the annual information filings are still mandatory. Your exact position depends on your country of residence and any applicable tax treaty, and our CPAs assess this for you from year one.

The IRS issues an automatic $25,000 penalty for each missed Form 5472 filing. If you are notified and do not remedy it within 90 days, additional penalties of $25,000 apply every 30 days with no upper limit. We help clients catch up on missed filings and work to minimise any penalties already incurred.