A Form 5472 Preparer for Foreign-Owned US LLCs

The forms are short. The judgement is in what goes on them.

• Sorts the year's money movements. Contributions, distributions, loans and owner-paid LLC costs are identified and totalled by type.
• Completes Form 5472. Owner details, related-party information, the transaction totals and year-end total assets.
• Writes the Part V statement. A plain list of the reportable transactions behind the totals.
• Completes the pro forma 1120. Only the identifying items, marked "Foreign-owned U.S. DE", with the income and tax lines left blank.
• Gets the package to the IRS. A foreign-owned disregarded entity cannot e-file these forms, so they go by fax or mail.

Ask each candidate these questions and get the answers in writing:

• Does the price include the pro forma 1120, or only Form 5472?
• Who checks the package before I sign it?
• Who sends it to the IRS, by what route, and what proof do I get?
• How are missed years handled, and at what price per year?
• What is outside the job: state returns, Form 1040-NR, bookkeeping?
• Who signs? It should be you, or someone authorized for the LLC.

A clear answer to each matters more than a firm's size or location.

Every filing is reviewed by a qualified accountant before it is submitted. In practice:

• The package is generated from your questionnaire answers, so the forms and the Part V statement use the same figures.
• The reviewer compares the forms with those answers and checks details that are easy to miss, such as the "Foreign-owned U.S. DE" marking and a matching EIN on both forms.
• If something is unclear, the question appears on your filing page. Nothing moves until it is answered.
• Signing opens only after the review is approved, so you never sign an unchecked package.

• Sign for the LLC. The return is signed by the owner or another authorized person. Our staff never sign on a client's behalf.
• Know facts you have not shared. A preparer works from your information, and you remain responsible for its accuracy.
• Promise penalty relief. If a year is late, nobody can promise the IRS will not assess the $25,000 penalty under IRC §6038A(d).
• Replace tax advice. We prepare and submit forms; we do not advise on tax positions.

Both plans include the review and the IRS fax. Standard is $149, ready in 5-7 business days; Express is $199, ready within 3 business days. Each additional past year adds $99. See pricing, or start the questionnaire now.