Form 5472 vs Form 5471: Which One Do You Need to File?
Updated July 2026 · Reviewed by a Form 5472 specialist
Updated July 2026 · Reviewed by a Form 5472 specialist
The short answer
Key takeaways
Form 5472 reports a foreign owner of a US company; Form 5471 reports a US person who owns a foreign corporation. They point in opposite directions — 5472 is foreign money into a US company, 5471 is a US owner into a foreign company.
The two forms are constantly confused because both involve cross-border ownership and both are information returns with no tax computation of their own. But they are mirror images. The simplest memory aid: 5472 = foreign money into a US company; 5471 = a US person going abroad into a foreign company.
| Feature | Form 5472 | Form 5471 |
|---|---|---|
| Who files | US company with a 25% foreign owner | US person owning/controlling a foreign corporation |
| Direction of ownership | Foreign owner → US company | US owner → foreign company |
| Typical filer | Non-resident with a US LLC | US citizen/resident with an overseas company |
| What it reports | Related-party transactions | The foreign corporation's income, ownership, E&P |
| Penalty | $25,000 per form, per year | $10,000 per form, per year |
| Filed with | Pro forma 1120 (for a DE) | The US owner's 1040 or 1120 |
| E-file | Not possible for a foreign-owned DE — mail or fax only | Yes — e-files with the owner's return |
Source: IRS Instructions for Form 5472 and Form 5471. Verified July 2026.
They also differ in complexity. Form 5472 for a disregarded entity is short — it lists related-party transactions. Form 5471 is one of the most complex forms in the Code, with multiple schedules covering the foreign corporation's earnings, ownership, and income categories.
One more filing people bundle in by mistake: BOI. Beneficial-ownership reporting goes to FinCEN, not the IRS, and under FinCEN’s March 2025 interim final rule US-formed entities — including foreign-owned US LLCs — are exempt; only foreign reporting companies file. So a foreign-owned US LLC’s real annual obligation is Form 5472 — not Form 5471, and not BOI.
If you are a non-resident who owns a US LLC, you file Form 5472, not Form 5471. Form 5471 applies only when a US person owns a foreign corporation — the opposite direction. Most foreign founders of US LLCs file Form 5472.
For the typical reader here — a non-resident who formed a US LLC — the answer is clear: Form 5472. Your company is a US entity, and it is foreign-owned. That is exactly the situation Form 5472 covers. Form 5471 would only apply if you were a US taxpayer owning a company outside the US — the reverse of your situation.
| Your situation | Form to file |
|---|---|
| Non-resident owns a US LLC | Form 5472 |
| Non-resident owns a US C-corporation (25%+) | Form 5472 |
| US citizen/resident owns a foreign corporation | Form 5471 |
| US person with a foreign company that owns a US entity | Possibly both |
Source: IRS Instructions for Form 5472 and Form 5471. Verified June 2026.
If you have confirmed Form 5472 is yours, the do I need to file qualifier and the foreign-owned single-member LLC guide walk through your exact obligation.
It is possible but uncommon for a small founder. You would file both only if you separately satisfy each form's test — for example, a US person who owns a foreign corporation that also owns a 25%-foreign-owned US entity.
The forms are not mutually exclusive — they test different relationships, so an unusual structure can trigger both. But this is rare for the typical single-LLC founder. It generally requires a more complex setup, such as a US person who controls a foreign corporation (5471) where that foreign corporation in turn owns 25%+ of a US entity (5472).
For a straightforward non-resident-owned US LLC, only Form 5472 applies. If your structure is layered across borders and you are unsure, that is a situation worth confirming with a credentialed cross-border tax professional — the cost of getting it wrong is high on both forms.
Form 5472 carries a $25,000 penalty per form, per year. Form 5471 carries a $10,000 penalty per form, per year, with an additional $10,000 per 30 days after an IRS notice, up to a $50,000 continuation maximum.
Both forms punish non-filing harshly, but the amounts differ. Form 5472's penalty is the steeper headline number, and uniquely it has no continuation cap.
| Penalty element | Form 5472 | Form 5471 |
|---|---|---|
| Base penalty (per form, per year) | $25,000 | $10,000 |
| Continuation after IRS notice | +$25,000 per 30 days | +$10,000 per 30 days |
| Continuation maximum | None | $50,000 |
| Statute of limitations | Effectively none (§6501(c)(8)) | Effectively none (§6501(c)(8)) |
Source: IRC §6038A(d) (5472); IRC §6038(b)/§6679 (5471). Verified June 2026.
The full mechanics of the Form 5472 penalty — including why there is no statute of limitations — are covered in the $25,000 penalty guide and the IRC §6038A page.
Roughly, yes. Form 5472 is filed by US entities that are foreign-owned (reporting a foreign owner). Form 5471 is filed by US persons who own or control foreign corporations. The forms mirror each other across the US border.
The “foreigners vs Americans” shorthand is a useful first approximation, though the precise test is about direction, not nationality alone. Form 5472 looks inward: a US company discloses its foreign owner. Form 5471 looks outward: a US person discloses a foreign company they own.
So if money and ownership are flowing into the United States (a foreigner owning a US business), think 5472. If a US taxpayer is reaching out to own a business abroad, think 5471. For nearly everyone reading this — a non-resident with a US LLC — the form is 5472.
A foreign-owned single-member LLC files Form 5472 with a pro forma Form 1120 by mail or fax — never e-file. form5472.tax prepares and files the complete package for a flat $299.
Once you have confirmed that Form 5472 is your form, the filing itself is well-defined: complete Form 5472 (Parts I–VI), attach it to a pro forma Form 1120labeled “Foreign-owned U.S. DE,” and mail it to 1973 Rulon White Blvd, M/S 6112, Attn: PIN Unit, Ogden, UT 84201, or fax 855-887-7737. There is no e-file path.
The complete, step-by-step process is in the Form 5472 instructions guide. Or, for a flat $299, form5472.tax prepares, reviews, and files the entire package so you never have to decode the forms yourself.
Form 5472 + pro forma 1120, prepared, reviewed, and filed for a flat $299. Not sure which form you need? Message us.