Form 5472 for a New Mexico LLC with a foreign owner
Short answer: New Mexico’s low state upkeep doesn’t change the federal filing. A New Mexico single-member LLC wholly owned by a non-US person files Form 5472 attached to a pro forma Form 1120, by fax or mail. The deadline is the 1120’s due date, including extensions.
By Thibault Chassagnol, founder of 5472Direct
Published
Checked against the IRS Instructions for Form 5472 (Rev. 12/2024).
New Mexico LLCs are often chosen for their low ongoing state requirements. One in ten LLCs filed through 5472Direct last season was a New Mexico LLC (12 of 119).
Low state upkeep doesn’t change the federal filing. Under the IRS instructions, a single-member LLC wholly owned by a foreign person is a “foreign-owned U.S. DE”, whatever state it was formed in. It files Form 5472 attached to a pro forma Form 1120 by the 1120’s due date, including extensions (IRS i5472).
What’s in the filing
- Pro forma 1120: a cover return with a few identifying items and “Foreign-owned U.S. DE” across the top.
- Form 5472: the LLC, its foreign owner, and the year’s reportable transactions between them (for example contributions, distributions and owner-paid expenses).
- Sent by fax or mail to the IRS PIN Unit in Ogden. No e-file.
The IRS instructions set a $25,000 penalty for failing to file when due and in the manner prescribed.
File it with 5472Direct
$199 for the packet, +$49 if we fax it for you with a delivery receipt. Free eligibility check first.
FAQ
Do I file anything different because it’s New Mexico?
Document preparation only; not tax or legal advice.
