Form 5472 questions, answered
Deadlines, requirements, and how the filing works. Rules and deadlines link to the IRS instructions, so you can check the source.
What is Form 5472?
Form 5472 is an IRS information return. It reports certain transactions between a company and related parties, such as its foreign owner. The IRS instructions for Form 5472 explain that a foreign-owned US disregarded entity, like a single-member LLC with a non-US owner, files it with a pro forma Form 1120.
Who must file Form 5472?
The IRS instructions for Form 5472 list who must file. One group is a foreign-owned US disregarded entity that had a reportable transaction with a related party during the tax year. If you’re unsure whether this applies to you, ask a tax professional. Our free eligibility check tells you whether our tool takes your case. If it doesn’t, we refer you to a CPA partner before you pay.
How do I file Form 5472 online?
Start with the free eligibility check. Then enter your LLC and owner details. Add your transactions by bank import (Plaid), CSV upload, or manual entry. Imported transactions come with suggested categories. You review them and can change any of them. Then review your forms and download the PDFs, all in one sitting. With IRS Direct Delivery ($199 in total, $149 without it), we fax the filing to the IRS and send you the fax transmission receipt.
What are reportable transactions for Form 5472?
The IRS instructions for Form 5472 describe them in Parts IV and V of the form. For a foreign-owned US disregarded entity, Part V includes amounts paid or received in connection with forming, dissolving, acquiring or disposing of the LLC, including contributions to it and distributions from it. If you’re unsure how a specific amount should be reported, ask a tax professional.
When is Form 5472 due?
Form 5472 is filed with the pro forma 1120, by that return’s due date. For a calendar-year LLC, that is usually April 15. A Form 7004 extension, filed by that date, moves it to October 15. See the IRS instructions for Form 5472. From January to April 15, you can generate a free Form 7004 extension with our tool.
What is the penalty for not filing Form 5472?
The IRS can assess a $25,000 penalty* for each required Form 5472 that isn’t filed when due. The penalty rules are in the IRS instructions for Form 5472. Read about common Form 5472 mistakes.
Does 5472Direct use AI to generate tax filings?
Your Form 5472 and pro forma 1120 are filled from the information you provide, using fixed rules. They aren’t written by AI. Imported transactions come with suggested categories. You review them and can change any of them before anything is filed. The final categories are your decision.
Can I get a refund?
Yes. You get a full refund within 30 days, as long as you haven’t downloaded your packet and we haven’t faxed it. After that, we correct for free any form that doesn’t match what you entered, and refund you if we can’t fix it. If we can’t get your fax delivered to the IRS, we refund the $50 delivery fee. See section 8 of our Terms of Service.
Can I file Form 5472 for prior years?
Prior-year (catch-up) filings aren’t available yet. They’re planned for the 2027 season. Contact us to be notified.
*IRC Section 6038A(d). $25,000 per form, per year.
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