Tax compliance in the US

For a foreign-owned company, US tax compliance has a particular trap. A foreign-owned US disregarded entity, such as a single-member LLC, is required to file a pro forma Form 1120 with Form 5472 attached, according to the IRS instructions for Form 5472, and the same instructions state a penalty of $25,000 for a reporting corporation that fails to file when due. Filing is on paper and not electronic for such entities. Owners who treat the LLC as dormant because it earned nothing can still be caught by this.

Ask a firm whether it has filed Form 5472 for foreign-owned entities, which state returns and annual reports it covers, how it handles the owner’s tax position at home, and who tracks the dates. A firm that does only domestic returns may not be familiar with these filings. Profiles show languages and entity types handled. The US country guide explains the choice between an LLC and a corporation.

257 firms list tax compliance in the United States (226 accounting firms and 24 corporate services providers and 7 law firms), which is almost every firm Accountanty holds for the country. Foreign clients are served by 145 of them. Individuals, small businesses and small business owners are the main client groups. Firms can be compared by city in Miami, New York, Houston, Dallas and Las Vegas, or through a free quote request.

Firms offering tax compliance in the US

H&CO LLP

Accounting firm · International network

Miami, Florida

  • Company formation
  • Accounting and bookkeeping
  • Tax compliance
  • +4 more

Languages: English · Spanish · Portuguese

View profile of H&CO LLP

233 more firms offering tax compliance in the US

Frequently asked questions

What is Form 5472?

It is an information return that a foreign-owned US entity files with the IRS, attached to a pro forma Form 1120 where the entity is a disregarded LLC. The IRS instructions state a penalty of $25,000 for failing to file when due. Ask a tax preparer to confirm if it applies to you.

Can Form 5472 be filed online?

The IRS instructions state that a foreign-owned US disregarded entity cannot file Form 5472 electronically. It is filed on paper, so ask your firm how it handles the mailing, the deadline and proof of delivery.

Do I owe US tax if my LLC earns nothing?

Your tax position depends on your residence, the income and the entity, and filing duties can apply even when there is no income. Ask a US tax preparer to review your case before you assume that nothing is due.

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General information, not legal or tax advice. Rules, rates and fees change: check them with the official sources linked on this page or with a qualified adviser before you act.