Pro forma Form 1120 for a foreign-owned LLC

Why a Form 1120 at all

Since 2017, the IRS has treated a US disregarded entity wholly owned by a foreign person as a corporation for one limited purpose: reporting transactions with related parties on Form 5472. Form 5472 is normally attached to a corporation's income tax return. A disregarded LLC has no such return, so the IRS instructions require it to file a "pro forma" Form 1120, meaning a Form 1120 completed only as far as needed to carry the Form 5472.

What goes on Form 5472 itself, and when a year needs no filing at all, is covered in our Form 5472 guide.

Which Form 1120 to use

Use the Form 1120 for the tax year you are reporting. For the 2025 calendar year, that is the 2025 Form 1120. The LLC uses the same tax year its owner uses for US tax purposes or, if the owner has no US filing requirement, the calendar year. If the tax year is not a calendar year, fill in the fiscal year dates at the top of the form.

What to fill in

The Form 5472 instructions say the only information required on the Form 1120 is:

Write "Foreign-owned U.S. DE" across the top of page 1. Leave the income, deduction, tax and payment lines blank, because the LLC is not reporting income or paying tax on this form.

Form 5472 line 1c asks for the LLC's total assets, which is the figure a corporation would put in item D of the Form 1120. Work that figure out from the LLC's balance sheet at the end of the year so the two forms tell the same story.

Sign and date the Form 1120 in the signature area as the owner or another person authorized to sign for the LLC.

Putting the package together

1. Form 1120

   Completed as above, with "Foreign-owned U.S. DE" written across the top.

2. Form 5472

   One for each related party the LLC had reportable transactions with. For most single-member LLCs that is one form, for the owner.

3. The Part V statement

   A short statement describing the contributions, distributions and other transactions ticked in Part V of Form 5472.

4. Exchange rate schedule

   If any amounts were converted into US dollars, a schedule showing the rates used.

How to send it

A foreign-owned disregarded entity cannot file this package electronically. The IRS gives two options:

• Fax to 855-887-7737, at 300 DPI or higher.
• Mail to Internal Revenue Service, 1973 Rulon White Blvd, M/S 6112 Attn: PIN Unit, Ogden, UT 84201.

Do not use the mailing addresses in the Form 1120 instructions. They are for corporations filing real income tax returns. If you fax, keep the transmission report showing every page went through. It is your proof of filing on time.

See filing US forms from abroad for fax services and courier rules.

Getting more time

File Form 7004 by the original due date to extend it by six months. For a foreign-owned disregarded entity, enter the Form 1120 code on Form 7004, write "Foreign-owned U.S. DE" across the top, and fax or mail it to the same number or address as the pro forma package. The extension gives more time to file only. There is no tax to pay with this filing anyway.

Filing for years you missed

Each tax year needs its own package, on the Form 1120 for that year, with that year's Form 5472. Send each year separately and keep proof of each. The $25,000 penalty can apply to each late Form 5472, so take advice on the facts before you send several years at once.

When you close the LLC

For the LLC's last tax year, tick final return in item E. If money went back to you when the LLC was wound up, report it as a Part V transaction on the final Form 5472.

The full closing process is in how to close a foreign-owned US LLC.

This guide is general information. It is not tax or legal advice for your situation.