This article was checked in September 2026. Rules and figures change, so confirm them before you act. We are not lawyers or tax advisers.
The short answer
| Question | Answer |
|---|---|
| Who files Form 5472? | A US LLC owned by one foreign person, with a pro forma Form 1120. |
| Even with no sales? | Usually yes. Money you put in or take out counts as a reportable transaction. |
| When is it due? | April 15 for calendar-year companies, with an extension to October 15 on Form 7004. |
| What if I miss it? | The IRS penalty starts at $25,000. |
Key takeaways
- Keep records of every payment between you and your company.
- File even if the company had no sales.
- Use a CPA who knows foreign-owned LLCs.
- Set a reminder in January every year.
Who must file
A US LLC with one owner who is not a US person is usually treated by the IRS as a disregarded entity. Since 2017, these LLCs must file Form 5472, attached to a pro forma Form 1120, every year.
What you report
Form 5472 reports money and other transactions between the LLC and its foreign owner or related parties. For example:
- Money you put into the company to start it or keep it running
- Money the company pays you or sends to your Pakistani company
- Loans between you and the company
- Company expenses you paid personally
Keep records of every transaction. The IRS requires them.
Due date
The filing is due by April 15 for companies on a calendar year. You can get a six month extension, usually to October 15, by filing Form 7004 before the deadline. These forms are generally filed by fax or mail, as the IRS instructions explain.
Penalties
The penalty for not filing, or filing an incomplete form, is $25,000 per form per year. More penalties can be added if the IRS sends a notice and you still do not file.
Tax is a separate question
Filing Form 5472 does not by itself mean your company owes US income tax. Whether it does depends on how and where it does business. A US CPA should review your situation.
What counts as a reportable transaction
- Money you put into the company to start it or run it
- Money the company pays you or your Pakistani business
- Goods your Pakistani company sells to your US company
- Loans between you and the company
Records to keep
- Bank statements for the US company
- Invoices between your Pakistani and US companies
- Formation documents and EIN letter
- A simple yearly summary of money in and out
How we help
Our US CPA partner prepares and files Form 5472 and the pro forma 1120 for our clients, from $450 per year. We send reminders well before the deadline. See US company setup.
Want us to handle this for you?
We are a US office in Chicago for Pakistani exporters. We set up your US company, build your website and find US buyers. You sell to them directly.
Keep reading
- Company, tax and bankingRegister a US company from Pakistan
Company, tax and bankingGet an EIN from Pakistan
Company, tax and bankingUS bank account for a Pakistani business
Common questions
Do I need to file Form 5472 if my LLC had no income?
Yes. A foreign-owned single member LLC must file it every year, even with no income, if it had reportable transactions such as money put into the company.
What is the penalty for not filing Form 5472?
$25,000 per form per year, with more penalties possible if you still do not file after an IRS notice.
When is Form 5472 due?
By April 15 for calendar year companies, or by October 15 with an extension filed on Form 7004.
Does filing Form 5472 mean I pay US tax?
Not by itself. It reports transactions with the owner. Whether US tax is owed depends on how the company does business.
Can I file Form 5472 myself?
It is possible, but mistakes are costly. Most owners use a US CPA. Our CPA partner files it from $450 a year.