Form 5472 vs Form 5471: Which One Do You Need to File?
Updated June 2026 · Reviewed by a Form 5472 specialist
Updated June 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 |
Source: IRS Instructions for Form 5472 and Form 5471. Verified June 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.
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 P.O. Box 149342, Austin, TX 78714-9342, or fax 855-887-7737. There is no e-file path.
The complete, step-by-step process is in the how to file Form 5472 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.