Stripe Atlas LLC owners — Form 5472 is on you, not Stripe

Stripe Atlas's pricing section (checked October 5, 2026) lists a US$500 one-time fee covering Delaware incorporation, a company tax ID, founder equity, an 83(b) election filing, document templates and the first year of registered agent service. Form 5472 is not on that list.

Listed in Atlas's US$500 setup fee:

• Company incorporation in Delaware, including expedited processing and state filing fees.
• Company tax ID (EIN).
• Founder equity issuance and share purchase.
• 83(b) election filing.
• Document templates created with Cooley LLP.
• First year of registered agent service (then US$100 a year).

Not in Atlas's published inclusions (its business-taxes docs point founders to partner tax and accounting services):

• Annual federal tax filings, including Form 5472.
• Pro forma Form 1120 (the attachment to Form 5472).
• Delaware annual LLC tax ($400/year, due June 1).
• State annual reports outside Delaware.
• Personal Form 1040-NR (if you have US-source income).
• Sales tax registrations.
• Bookkeeping or accounting.

Note: BOI (Beneficial Ownership Information) reporting isn't on this list because it no longer applies. Since March 26, 2025, FinCEN has exempted US-formed entities like your Delaware LLC from BOI reporting entirely.

If you formed your LLC through Stripe Atlas and you're a non-US person, Form 5472 is yours to file — every year, by April 15. Atlas's published ongoing service is registered agent renewal, not the annual IRS filing.

This catches Stripe Atlas founders off guard because the IRS still requires Form 5472 even when the LLC owes zero US federal tax or only has startup funding. Their LLC has clear revenue, runs through Stripe and Mercury, and from their perspective the US side "just works".

The disconnect: the IRS requires Form 5472 even when:

• Your LLC owes zero US federal tax (most do).
• Your LLC's customers are 100% outside the US.
• Your LLC's only activity is one wire from you to fund operations.

That wire is itself a reportable transaction. So almost every Stripe Atlas LLC owes Form 5472 every year.

The second disconnect: there's no IRS reminder. The IRS doesn't email you in March saying "hey, Form 5472 is due in 30 days." You're expected to know. Most founders learn about Form 5472 from a Reddit thread, a Stripe Atlas community post, or — worst case — a CP 215 penalty notice in the mail two years after they should have filed.

The typical Stripe Atlas compliance stack includes federal Form 5472, Delaware franchise tax, and situational filings. The federal piece is Form 5472 plus pro forma Form 1120 due April 15; Delaware's annual LLC franchise tax is separate and due June 1; personal, sales, or payroll filings depend on facts.

Federal (us):

• Form 5472 + pro forma Form 1120 due April 15. $25,000 penalty if missed. Our service: $149 Standard (ready in 5-7 business days) or $199 Express (within 3) — identical filing, IRS fax delivery included.
• BOI report to FinCEN — NOT required. Since March 26, 2025, FinCEN has exempted US-formed entities, including Delaware LLCs, from BOI reporting under the Corporate Transparency Act.

State (Delaware, self-serve):

• Delaware Annual LLC Franchise Tax: $400, due June 1. Self-serve at corp.delaware.gov.

Situational:

• Personal Form 1040-NR — only if you have US-source income personally (rare for most Stripe Atlas LLCs).
• Sales tax registrations — only if you cross economic nexus thresholds in specific states (rare for SaaS, more common for physical-goods ecommerce).
• Payroll taxes — only if you have US employees (rare).

Beyond formation:

• Atlas's published ongoing service is registered agent renewal (US$100 a year after year one). Its business-taxes docs point founders to partner tax and accounting services that offer discounts to Atlas users.

Total annual federal compliance with us: Standard $149 (fax delivery included). Plus $400 Delaware state. Total year 2+: $549/year.

You file a cover letter, pro forma Form 1120, Form 5472, Part V supporting statement, and reasonable cause statement when filing late.

1. Cover letter identifying the filing.
2. Pro forma Form 1120 — entity info only, stamped "Foreign-Owned U.S. DE" at the top. Income, deductions, tax sections all blank.
3. Form 5472 — Parts I (your LLC), II (you as foreign shareholder), III (you again as related party), IV (monetary transactions, often blank), V (reportable transactions — capital contributions, distributions), VII (FDE confirmation).
4. Part V supporting statement — list of each reportable transaction.
5. Reasonable Cause Statement — only if filing late under DIIRSP.

All faxed to the IRS Ogden PIN Unit at +1-855-887-7737. The fax transmission receipt is your transmission evidence.

Total pages: 5-8. Total time to file with us: ~15 minutes. Total cost with us: Standard $149 (IRS fax delivery included).

Common Stripe Atlas LLC scenarios include year-one funding, growing SaaS activity, late discovery, and multiple LLCs. The examples cover a no-revenue first year with a capital contribution, a second-year SaaS business with distributions, DIIRSP catch-up after missed years, and separate annual filings for separate LLCs.

Scenario A — Year 1, no revenue yet: Lucia formed her Stripe Atlas LLC in June 2024. By December 2024 the only activity was: $5K capital contribution to open Mercury account + $500 spent on Stripe Atlas formation fee. Required for tax year 2024: Form 5472 + pro forma 1120. Part V reports the $5K capital contribution. Files by April 15, 2025 with our service for Standard $149 (fax included).

Scenario B — Year 2, growing SaaS: Mei has been running her Stripe Atlas Delaware LLC for 2 years selling SaaS to EU customers. Year 2 revenue: $180K, $0 US tax owed. She files Form 5472 + 1120 reporting capital contributions and distributions to/from her HK bank account. Standard $149 (fax included) with our service.

Scenario C — Discovered Form 5472 late: Carlos formed his Stripe Atlas LLC in 2022. Three years later (2025) he discovers Form 5472 obligation. He files 2022, 2023, 2024 together under DIIRSP using our 3-year catch-up (Standard $347, fax included). Reasonable cause statement auto-generated for first-time foreign-owner unawareness. No outcome is guaranteed: if a penalty is assessed during processing, the statement is the basis for responding.

Scenario D — Multiple Stripe Atlas LLCs: Mei has 3 separate Stripe Atlas LLCs for 3 different product lines. Each one needs its own Form 5472 + pro forma 1120 every year — 3 separate filings, Standard $149 each with us = $447/year just for federal compliance.

We handle Stripe Atlas Form 5472 filings with a wizard pre-tuned for the Stripe Atlas, Mercury, and non-US-founder profile. The wizard is set up for this exact case:

• 12-question wizard. Pre-filled state (Delaware), common NAICS suggestions for SaaS / ecommerce / consulting.
• In-portal canvas signature — no printing, scanning, or uploading needed.
• Accountant review on every package before submission.
• IRS fax delivery + timestamped receipt as transmission evidence.
• Pre-fills the next year from your prior filing — year 2 onward takes 5 minutes.
• Optional annual reminder emails so you don't miss the April 15 deadline.

Pricing:

• 1 tax year: $149 Standard / $199 Express (fax included)
• 2 tax years (DIIRSP catch-up): $248 Standard / $298 Express (fax included)
• 3 tax years (DIIRSP catch-up): $347 Standard / $397 Express (fax included)
• +$99 per additional past year

100% money-back guarantee if we fail to submit your filing to the IRS.

Many Stripe Atlas founders discover Form 5472 a year or two after forming their LLC. The IRS provides DIIRSP — Delinquent International Information Return Submission Procedure — as the standard catch-up:

• File all missed years together as one package.
• Include a Reasonable Cause Statement explaining first-time foreign-owner unawareness.
• Fax to +1-855-887-7737 (IRS Ogden PIN Unit).
• Expect no guaranteed outcome: the IRS may still assess a penalty during processing, and the statement is then the basis for responding.

DIIRSP eligibility: you have not yet been contacted by the IRS about the specific year's delinquency. As long as no CP 215 notice has arrived for those years, DIIRSP is available.

Our multi-year packages:

• 2-year catch-up: $248 Standard / $298 Express (fax included).
• 3-year catch-up: $347 Standard / $397 Express (fax included).

Don't wait. Once the IRS issues a CP 215, that year's DIIRSP eligibility ends and you're in the harder post-assessment appeal process.

If your Stripe Atlas LLC banks with Mercury, a US-based fintech, the LLC's main bank account is considered US — no FBAR (foreign bank account report) is required just for the Mercury account.

If you supplement Mercury with Wise USD, Brex, Relay, or other US-based business banking — also fine, no FBAR.

FBAR enters the picture only if your LLC opens accounts OUTSIDE the US (e.g. Wise EUR account, Revolut Business EU). In those cases the LLC itself may need to file FBAR, separate from Form 5472. Talk to a tax professional if your LLC has non-US accounts.

For the standard Stripe Atlas + Mercury / Wise USD / Brex profile, Form 5472 + Delaware franchise tax is the complete compliance picture — BOI reporting doesn't apply since FinCEN exempted US-formed entities on March 26, 2025. No FBAR needed.

Common mistakes include assuming Atlas handles annual filings, starting too late, following outdated BOI advice, and filing without the pro forma 1120.

• Assuming Stripe Atlas "handles everything" — Atlas's published inclusions do not list Form 5472 or other annual federal filings.

• Waiting until April 14 to start — gather records earlier. Year 1 you'll need: Mercury statements, Stripe payout reports, any wires you made to/from the LLC.

• Believing you still owe a BOI report — outdated advice. Since March 26, 2025, FinCEN has exempted US-formed entities, including Delaware LLCs, from Beneficial Ownership Information reporting. Don't pay anyone to file one for you.

• Forgetting Delaware franchise tax — $400/year due June 1. Different deadline from Form 5472. Pay directly at corp.delaware.gov.

• Assuming your CPA back home (in your country) knows about Form 5472 — they almost certainly don't. This is US-specific.

• Filing only Form 5472 without the pro forma 1120 — invalid filing, triggers $25,000 penalty.

• Planning to e-file the package — the IRS Form 5472 instructions send a foreign-owned DE's Form 5472 and pro forma 1120 by fax or mail.

Stripe Atlas got you the LLC, the tax ID, and the first year of registered agent service. Its published inclusions stop short of the annual IRS filing. From year 1 onward, Form 5472 + pro forma 1120 is on you, due April 15 each year, with a $25,000 penalty per year if missed.

Our service is built for this profile — fixed pricing, accountant-reviewed, with a money-back guarantee if we fail to submit. $149 Standard (ready in 5-7 business days) or $199 Express (within 3) — identical filing, IRS fax delivery included. Most of our customers come from Stripe Atlas, Mercury, and similar foreign-founder onboarding paths.

File early, file every year, keep the fax receipt for your records. The $25,000 penalty is the single largest compliance risk for your LLC — bigger than every other federal/state obligation combined.