I will file form 1120 and 5472 foreign owned US llc pro forma

Yes. If you own a foreign-owned Single Member LLC, the IRS requires Form 5472 with Pro Forma Form 1120 as an Informational Return, even if your US LLC had Zero Activity during the year.

Form 5472 is an IRS Tax Form used to report Reportable Transactions between a Non-resident owner and their US LLC. The IRS requires this form to track financial activity between foreign owners and US entities

No, as per IRS guidelines 1120 and 5472 for Single-member LLC is only submitted through Fax or Mail. Be careful before anyone scam you.

As per IRS, the 1120 is only used as a cover page, while Form 5472 reports the transactions.

The deadline is 15 April each year for the previous tax year. Filing late can result in a $25,000 IRS penalty.

Money transferred between the owner and the LLC, Owner funding the business, Payments to the foreign owner, Business expenses paid personally by the owner. (Revenues and expenses of operations on Amazon or other business conducted in US are not reportable transactions of 5472)

Yes. If you missed filing Form 5472 or Pro Forma 1120, you can still submit late Informational Returns. A reasonable cause statement can also be attached to request penalty waiver if the failure was due to lack of knowledge or external reasons.

No problem. Many non-resident founders are unsure about IRS compliance. You can message me for a free consultation, and I will guide you on Form 5472, 1120, and your US LLC reporting requirements.