IRS Form 5472, explained
Everything you need
to know about Form 5472.
If a foreign person owns 25% or more of your US LLC, the IRS requires Form 5472 every year, even with no revenue, no employees, and no activity. Missing it triggers a $25,000 penalty per form, no income required. This guide explains exactly who must file, what to report, and how to do it.
Form 5472 at a glance
Who files?
Foreign-owned US LLCs with 25%+ foreign ownership
Due date
April 15 (or Oct 15 with Form 7004 extension)
Penalty
$25,000 per missed form, per year
Filed with
Pro forma Form 1120
Explore the guide.
Start anywhere. Each section stands on its own.
What is Form 5472?
What the form is and how it attaches to the pro forma Form 1120.
Who must file?
The 25% foreign ownership threshold and reportable transactions, in plain English.
2026 deadline & extension
April 15, October 15, and Form 7004 at a glance.
Penalties (IRC §6038A(d))
$25,000 initial and continuation penalties, what they are and how they accumulate.
Line-by-line instructions
Plain-English walkthrough of each section of the form.
Related forms
How Forms 1120, 7004, and 5472 work together as a single filing package.
IRC §6038A(d)
The penalty isn't a warning. It's automatic.
$25,000 per missed Form 5472, per tax year, regardless of revenue. After an IRS notice, continuation penalties of +$25,000 per 30-day period apply with no statutory cap. Filing voluntarily, even late, is the strongest position.
Initial penalty
$25,000
Per form · Per year
You know the rules.
Now file it.
Fylit.tax turns your bank statements and entity details into a filing-ready compliance packet in under 20 minutes.
Fylit organizes your compliance paperwork from your inputs into reviewer-ready drafts. Always review with a qualified tax professional before filing. Legal disclosures