Frequently Asked Questions

Taxation

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Annual Taxation Requirements for a Foreign-Owned Sole Member LLC

Before the 15th of April every year, each foreign-owned single member LLC is required to:

• File Form 5472 if there have been any “reportable transactions” during the previous tax year (Formation and dissolution filings are considered to be reportable transactions)
• File pro forma Form 1120
 

Note: the IRS treats each foreign-owned disregarded LLC as a separate entity. That means that if one foreign person owns more than one LLC, they must report each LLC separately. (And if they don’t, each LLC is fined separately.)