Is your Form 5472 filing simple or complex?
5472Direct is built for simple filings: single-member, foreign-owned LLCs with standard transactions. The free eligibility check — 14 yes/no questions — tells you which yours is, before you pay.
By Thibault Chassagnol, founder of 5472Direct
Published Updated
What the free check asks
These are the exact topics the eligibility check covers, in plain words. A simple filing looks like this:
LLC setup
- 1.Your LLC has an EIN issued by the IRS.
- 2.It is a single-member LLC formed in a U.S. state.
- 3.The sole owner is not a U.S. citizen, green-card holder, or U.S. tax resident.
- 4.The LLC is on its default tax treatment — no Form 8832 or 2553 election to be taxed as a corporation.
U.S. activity
- 5.No income treated as coming from the United States, such as U.S. rents or royalties.
- 6.No U.S. employees, office or warehouse, and nobody working only for the LLC from inside the United States.
Related-party transactions
- 7.No goods imported from a foreign company you own or are related to.
- 8.No money or value moving between the LLC and your family, or other foreign companies you or your family own.
- 9.No formal loans between the LLC and the owner or a related foreign party.
- 10.No property — vehicles, equipment, real estate, intellectual property — moving between the LLC and the owner.
- 11.No royalties, IP licensing fees, or loan interest paid to a foreign person or company.
Other complexity checks
- 12.The LLC does not own 20% or more of any other company.
- 13.No digital asset transactions — crypto, NFTs, stablecoins — during the tax year.
Year-end changes
- 14.Ownership did not change, and the LLC was not closed, dissolved, sold, or liquidated during the tax year.
Where a question needs context, the check includes a short plain-language explanation. If you’re unsure how to answer, take the check anyway — the worst outcome is a free referral, not a fee.
What happens after the check
Either way, you know where you stand in a few minutes.
If every answer fits
Simple
You’re eligible. Continue to the guided wizard, enter your LLC and owner details, add your transactions, and your Form 5472 and pro forma 1120 are ready as PDFs in the same session.
If one answer doesn’t
Complex
The check stops you before you pay, explains which answer is outside the tool, and points you to our CPA partner, TaxClaim (Chirag Lathiya, CPA). Complex doesn’t mean impossible — it means a professional should look at it.
Still need to file Form 5472 for tax year 2025?
Check if your LLC qualifies for free, then get your IRS-ready filing in the same session.