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Form 5472 Instructions: Plain-English Walkthrough

The official IRS instructions for Form 5472 are 12 pages of dense regulatory language. Here's what each part actually means, what to write in each box, and the common mistakes that trigger the $25,000 penalty.

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Part I — Reporting Corporation

This is your LLC's information. • Line 1a-1d: LLC legal name and address as shown on your EIN confirmation letter (CP-575) • Line 1b: EIN — your 9-digit IRS-issued number • Line 1c: Total assets at year-end (the ending balance from your books) • Line 1d: Principal business activity code (NAICS) — look up at naics.com • Line 1e: Total value of gross payments made or received reportable on this form • Line 1f: Total reportable transactions — this MUST include Part V amounts for foreign-owned DEs

Part II — 25% Foreign Shareholder

This is YOU — the foreign owner. • Name and address (your residential address in your home country) • Foreign Tax ID Number (FTIN) — your tax ID from your country of residence • US identifying number if you have one (ITIN/SSN) — leave blank if you don't • Country of citizenship • Country of incorporation (only if the owner is itself a foreign entity) • Principal country where business is conducted

Part III — Related Party

If the foreign shareholder (Part II) is also the related party (transactions occurred between you and the LLC), repeat the same information here. For most single-member LLCs owned by one individual, Part III mirrors Part II.

Part IV — Monetary Transactions

List the transactions between you and the LLC. For most foreign-owned DEs, this section is blank because contributions and distributions go in Part V, not Part IV. If your LLC paid you for services or paid rent to you, put it here.

Part V — Reportable Transactions

This is THE critical section for foreign-owned DEs. • Capital contributions you made to the LLC during the year • Distributions the LLC made to you during the year • Other amounts paid or received between you and the LLC Attach a supporting statement listing each transaction by date and amount. The total of Part V must equal Line 1f on Part I.

Part VII — Additional Information

Check the boxes that apply. For most foreign-owned single-member LLCs, this section is brief — you'll check the box for "foreign-owned domestic disregarded entity" and the others stay blank.

Common mistakes that trigger penalties

• Forgetting to attach pro forma Form 1120 — Form 5472 by itself isn't valid • Forgetting the Part V supporting statement • Mismatching Line 1f and the Part V total • Signing in pencil or with a digital signature (IRS requires wet ink) • Missing the April 15 deadline without filing Form 7004 for extension • Filing by email or trying to e-file — neither is accepted

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Frequently asked questions

Do I need a US address to file Form 5472?
Your LLC needs a US address (your registered agent's address works). Your personal address is your foreign residential address.
What's an FTIN if my country doesn't issue tax IDs?
Write 'NOT LEGALLY REQUIRED' in the FTIN box. The IRS accepts this for residents of countries without tax ID systems.
Do I need to attach financial statements?
No. Only the Part V supporting statement listing each reportable transaction is required.

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