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Short answer
A U.S. corporation files Form 5472 when a foreign person owns 25% or more of it and it had reportable transactions with a related party, such as a loan from the owner. A single-member LLC owned by a foreign person files it with a pro forma Form 1120. It is due with Form 1120 (April 15 for a calendar year). The penalty for not filing is $25,000 per form.
How this tool works
The test follows the IRS instructions for Form 5472: 25% foreign ownership (direct or indirect) for corporations, and any foreign-owned single-member LLC. One form is filed for each related party with reportable transactions.
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Updated October 30, 2026. General information, not legal or tax advice.
Questions founders ask
Almost any money or property that moves between the company and a related party: loans, capital put in, payments for services, rent, interest or reimbursed costs.
The penalty is $25,000 per form. If the IRS sends a notice and the form is still missing after 90 days, another $25,000 can apply for each 30 days.
A U.S. corporation files it with its Form 1120. A foreign-owned single-member LLC cannot e-file it: it faxes or mails the pro forma Form 1120 with Form 5472.
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