The yearly checklist
| Filing | Who it applies to | Due | Filed with |
|---|---|---|---|
| Form 5472 attached to a pro forma Form 1120 | Every single-member LLC owned by a foreign person that had reportable transactions with its owner or other related parties | April 15 for calendar-year LLCs | IRS, by fax or mail only |
| Form 7004 extension | Optional, if you need more time for Form 5472 | By the original due date. It moves the deadline to October 15 | IRS, same fax or address as Form 5472 |
| Form 1040-NR | The owner, if they have income effectively connected with a US business or other US income that requires a return | June 15 if no US wages subject to withholding, otherwise April 15 | IRS |
| State annual report or tax | Almost every LLC. New Mexico is an exception | Set by the state | The state's filing office or tax agency |
| Registered agent renewal | Every LLC | On the agent's billing date | The agent |
| Sales tax returns | Only LLCs registered for sales tax in a state | Monthly, quarterly or yearly, as the state assigns | The state's revenue department |
Form 5472 and the pro forma 1120
This is the filing foreign-owned single-member LLCs most often miss. The IRS treats the LLC as a corporation for this one purpose and requires it to report transactions with its foreign owner and other related parties. Those include the money you put in, the money you take out, and payments made on the LLC's behalf.
The filing is required even when the LLC earned nothing and owes no tax. The exception is a year with no reportable transactions at all. See what a dormant LLC still has to file. The penalty for not filing, or for filing a substantially incomplete form, is $25,000. If you are already late, see late Form 5472 relief.
How to complete and send it is covered in our Form 5472 guide.
Form 1040-NR, only if it applies
Because the IRS ignores a single-member LLC for income tax, any taxable US income belongs to the owner. The owner files Form 1040-NR when they have income effectively connected with a US trade or business, or other US income for which a return is required. An owner who lives and works abroad and has no US business activity often has nothing to report on Form 1040-NR. Whether that is you depends on your facts. See whether foreign-owned US LLCs pay US tax. Common situations are in does a foreign LLC owner file a personal return.
A Form 1040-NR needs a US taxpayer number for the owner, which for most non-residents means applying for an ITIN with the return. See whether you need an ITIN as a foreign LLC owner.
State filings
Each state sets its own yearly requirement. A few examples:
- Wyoming: an annual report with a license tax of at least $60, due on the first day of the month the LLC was formed.
- Delaware: an annual tax, $400 under the state's current form, due June 1. There is no separate annual report for LLCs.
- New Mexico: no annual report for LLCs.
- Florida: an annual report between January 1 and May 1, $138.75, with a $400 late fee after May 1.
Missing a state filing is the most common reason a foreign-owned LLC is dissolved. Notices go to the registered agent, so make sure your agent forwards them promptly.
State-by-state guides to yearly filings, fees and deadlines: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming.
Filings triggered by changes
Some filings are not yearly but are due when something changes:
- New responsible party or new address: tell the IRS on Form 8822-B. The IRS requires a change of responsible party to be reported within 60 days.
- New member: an LLC that goes from one owner to two becomes a partnership for tax purposes and starts filing Form 1065.
- Change of registered agent or state details: file the change with the state, usually for a fee.
- Closing the LLC: file dissolution with the state and a final Form 5472 and pro forma 1120, marked as final.
What you do not file
- A beneficial ownership report to FinCEN. US-formed LLCs have been permanently exempt since the final rule took effect on August 14, 2026.
- An FBAR for your personal accounts. The foreign bank account report applies to US persons, and a non-resident owner is not one. The LLC is different: it counts as a US person for this report even though the IRS ignores it for income tax. If the LLC itself holds financial accounts outside the US worth more than $10,000 in total at any point in the year, the LLC files an FBAR.
Records to keep all year
- Every bank, card and payment platform statement for the LLC.
- A running log of each transfer between you and the LLC, with the date and amount.
- Invoices, receipts and contracts.
- Copies of every filing, with proof it was sent, such as fax confirmations.
The IRS applies the $25,000 Form 5472 penalty to a failure to keep the required records, not only to a failure to file.
A calendar for a typical calendar-year LLC
| When | What to do |
|---|---|
| January | Close the previous year's books and total the transfers between you and the LLC |
| By April 15 | File Form 5472 with the pro forma 1120, or Form 7004 to extend |
| By June 15 | File Form 1040-NR if you have US taxable income and no US wages |
| By October 15 | Extended deadline for Form 5472, if you filed Form 7004 |
| State due date | Annual report or tax, and registered agent renewal |
Want the yearly filings handled?
We track your deadlines, prepare Form 5472 and the pro forma 1120 from your statements, file your state report and remind you before anything is due.
Questions people ask
Does my foreign-owned LLC need to file if it made no money?
Usually yes. Form 5472 depends on transactions with related parties, not on profit. Funding the LLC or taking money out of it counts, so most LLCs have something to report.
Is Form 5472 due every year?
Every year in which the LLC had reportable transactions with its owner or other related parties. A year with no such transactions at all falls within an exception.
Do I need to file an FBAR for my LLC?
Not for your own accounts as a non-resident. The LLC itself counts as a US person for this report, so it files one if it holds accounts outside the US worth more than $10,000 in total at any time in the year. An LLC that only has US accounts does not file.
What happens if I miss the state annual report?
The state can charge late fees and eventually dissolve the LLC. In Wyoming, an unpaid annual report makes the LLC subject to dissolution after 60 days, and reinstatement costs $100 plus the tax owed.
Sources
Every fee, date and rule on this page was taken from these official and primary sources.
- IRS: Instructions for Form 5472 (Rev. December 2024)
- IRS: Instructions for Form 1040-NR (2025)
- IRS: Instructions for Form SS-4 (12/2025)
- FinCEN: Beneficial ownership information reporting
- FinCEN: Report of Foreign Bank and Financial Accounts (FBAR) rules, 31 CFR 1010.350
- Wyoming Secretary of State: Business entities frequently asked questions
- Delaware Division of Corporations: Certificate of Formation form, rev. 8/2026
- Florida Division of Corporations: LLC annual report help
Rules and fees change. If you are reading this long after September 30, 2026, confirm the figures with the source before you rely on them.
Related guides
More in Foreign-owned and non-resident companies
This guide is general information. It is not tax or legal advice for your situation.