US & Global Business
Form 5472 — Meaning
A US information return for foreign-owned single-member LLCs and corporations — $25,000 penalty if missed.
What is Form 5472?
Form 5472 reports transactions between a US company and its foreign owners or related parties. A US single-member LLC owned by a foreign person must file it every year, attached to a pro forma Form 1120, even with no income — forming and funding the LLC are themselves reportable. It is due on 15 April (extendable with Form 7004), and the penalty for failing to file is $25,000 per form.
Need help with this?
Our CA team handles this for clients across India.
More US & Global Business terms
PFIC (Passive Foreign Investment Company)
A US tax category that makes Indian mutual funds expensive for US citizens and residents to hold.
FBAR (FinCEN Form 114)
A US report of foreign financial accounts when their total exceeds USD 10,000 at any time in the year.
EIN (Employer Identification Number)
The US federal tax ID for a company, obtainable by foreign owners without an SSN or ITIN.
ITIN (Individual Taxpayer Identification Number)
A US tax ID for individuals who must file US taxes but aren't eligible for an SSN.
POEM (Place of Effective Management)
The test that can make a foreign company tax-resident in India if it is effectively managed from India.
