MyFreeTaxAmerica

Running a Software Agency Through a US LLC? You Still Need Form 5472

"Running a software agency through a foreign-owned US LLC? Zero revenue doesn't mean zero filing requirement. Here's what actually counts as a reportable transaction."

How to Get an EIN for Your Foreign-Owned LLC (Without an SSN)

"No SSN? No problem. Here's how to get an EIN for your foreign-owned LLC by phone in 15 minutes — for free."

How to Dissolve Your US LLC as a Non-Resident (Without Getting Hit With Penalties)

"Dissolving your US LLC? The state part is easy. The IRS side is where the $25,000 penalties live — and the statute of limitations never expires until you file."

FBAR and Your Foreign-Owned US LLC

"Your US LLC is a 'US person' under the Bank Secrecy Act. If it controls foreign accounts over $10,000, you may need to file an FBAR — on top of Form 5472."

Your US Bank Account Got Closed? Here's Why — And How to Protect Your LLC

"Your Mercury, Relay, or Chase account just got closed. Here's why US banks shut down foreign-owned LLC accounts — and how staying IRS-compliant protects you."

Do I Need Form 5472 If My LLC Is Dormant?

"Your LLC has no income. It's dormant. You still probably need to file Form 5472 — and the penalty for skipping it is $25,000."

Stripe Atlas LLC? The IRS Filing Nobody Told You About

"Stripe Atlas didn't tell you about Form 5472. The IRS penalty for missing it is $25,000 per year — even if your LLC earned nothing."

Form 5472 for Russian Emigres

"Russian émigré with a US LLC? The IRS requires Form 5472 every year — even with zero income. Here's what you need to know."

Canadian With a US LLC? You Owe the IRS Form 5472

"Canadian with a US LLC? The IRS requires Form 5472 every year — even with zero income. The penalty for missing it is $25,000."

Featured

Form 5472 October 15 Deadline: What Extension Filers Need to Know

"Filed Form 7004 in April? October 15 is your real deadline — no second extension exists. Here's exactly what to file and what happens if you miss it too."

Form 5472: The $50,000 Reporting Shortcut You Need to Know

"If a Form 5472 transaction category totals $50,000 or less, you can use simplified reporting. Here's how the shortcut works."

When Does 50% Ownership Trigger Form 5472 Related Party Reporting?

"The 50% ownership threshold determines who's a related party on Form 5472. Get it wrong and the $25,000 penalty follows."

Why Form 5472 Requires a Wet- Ink Signature.

"The IRS won't accept electronic signatures on Form 5472. Here's why wet ink is required and how to sign and submit correctly."

Form 5472 Part V: Essential Guide for Foreign-Owned U.S. Disregarded Entities (2026)

"Part V of Form 5472 is only for foreign-owned disregarded entities. Here's what goes there, what doesn't, and how to avoid the $25,000 penalty."

How to File an Extension for Form 5472: A Complete Guide for US Disregarded Entities

"Need more time to file Form 5472? File Form 7004 before April 15 for an automatic 6-month extension. Here's exactly how."

When to Report Related Parties on Form 5472: Understanding Family Member Reporting Requirements

"Siblings, parents, and spouses can all trigger Form 5472 reporting. Here's how IRS attribution rules define related parties."

Form 5472 for Foreign-Owned LLCs: Essential FAQs (2026)

"Everything foreign LLC owners need to know about Form 5472 — who files, when it's due, the $25,000 penalty, and how to file for free."

Form 5472: Essential Filing Requirements for Nonresidents Owning US Rental Properties Through LLCs

"Own U.S. rental property through a foreign LLC? You likely need to file Form 5472 every year. Here's what the IRS requires."

Why You Shouldn't Hire Someone from Upwork or Fiverr to Prepare Your Form 5472

"A $75 Fiverr preparer got your Form 5472 wrong? The IRS penalty is $25,000. Here's why cheap tax help costs more than it saves."

Hong Kong Company for Amazon FBA: The U.S. Tax Trap That Could Cost 45% of Your Profits

"Hong Kong company selling on Amazon FBA through a U.S. LLC? The IRS sees a 44.7% tax bill. Here's the trap and what to do instead."

News

Simple Excel Bookkeeping for Form 5472: A CPA's Guide for Nonresidents

"You don't need expensive software to track Form 5472 transactions. A simple Excel spreadsheet is all most foreign LLC owners need."

Featured

Wyoming vs Delaware vs New Mexico LLC: Which One Should You Pick as a Non-Resident?

"Wyoming, Delaware, or New Mexico? See the real cost, privacy, and tax differences for foreign LLC owners in 60 seconds."