Missed Form 5472 for 2 Years? Here Is Exactly What to Do
Updated June 2026 · Reviewed by a Form 5472 specialist
Updated June 2026 · Reviewed by a Form 5472 specialist
The short answer
Key takeaways
Two missed years exposes you to $50,000 in penalties — $25,000 per form, per year under IRC §6038A(d). There is no cap and no statute of limitations, so the clock never runs out on either year until you file.
The number is genuinely alarming, and you should take it seriously — but it is not a bill you owe today. The $25,000 penalty per form, per year is an assessable penalty the IRS can impose, not an automatic charge that posts the day after the deadline. For two missed years that is $50,000 of exposure, and because Form 5472 carries no statute of limitations under IRC §6501(c)(8), neither year ages out.
Worse, if the IRS mails a 90-day notice demanding the form and you still do not file, an additional $25,000 accrues every 30 days per form. That is exactly why acting now — before any notice — matters so much. Read the full mechanics on the penalty page or estimate your number with the penalty calculator.
| Item | Amount |
|---|---|
| Year 1 — failure to file Form 5472 | $25,000 |
| Year 2 — failure to file Form 5472 | $25,000 |
| Total base exposure (2 years) | $50,000 |
| Per 30 days after a 90-day notice | +$25,000 per form |
| Statute of limitations | None (IRC §6501(c)(8)) |
Source: IRC §6038A(d); §6501(c)(8); IRS Instructions for Form 5472. Verified June 2026.
Almost certainly yes. Virtually every foreign-owned single-member LLC has a reportable transaction — funding the LLC counts — so a non-US owner with at least 25% ownership had to file for each of those 2 years, even with zero revenue.
Many owners convince themselves they were exempt because the LLC made no money. That is the most common and most expensive misunderstanding. Form 5472 is triggered by a reportable transaction, not by profit. The moment you wired money into the LLC's bank account, paid the formation fee, or covered a registered-agent invoice, you created a reportable transaction with a related foreign party.
The requirement for foreign-owned disregarded entities has applied since tax years beginning on or after January 1, 2017 under final regulations T.D. 9796, which treat a foreign-owned single-member LLC as a corporation for this reporting only. So if you owned the LLC across both years and moved any money, you had a duty to file each year. Confirm your situation on our missed-filing guide.
Build two separate packages — one pro forma Form 1120 plus Form 5472 for each missed year — attach a reasonable-cause statement to each, then mail or fax both. Keep proof of filing for all 2submissions.
Do not try to shortcut this by squeezing two years onto one return. The IRS processes each tax year separately, and combining them creates exactly the kind of error that invites a penalty. Here is the order of operations.
| Step | What you do | Why it matters |
|---|---|---|
| 1 | Confirm your EIN and ownership for each year | Each Form 5472 needs the foreign owner's details |
| 2 | Pull each year's correct form revision | You must use that year's pro forma 1120 + 5472 |
| 3 | List every reportable transaction per year | Funding, fees, and loans all count |
| 4 | Write a reasonable-cause statement per year | Explains the failure and requests relief |
| 5 | Mail or fax each package separately | No e-file path exists for a foreign-owned DE |
| 6 | Keep certified-mail or fax proof | Proves you filed and when |
Source: IRS Instructions for Form 5472 (foreign-owned U.S. DE). Verified June 2026.
A full walkthrough of the catch-up process lives on the Form 5472 catch-up filing page. If you would rather not assemble two years of forms yourself, the apply page starts the process for you.
You cannot e-file. Each year's package goes by mail to P.O. Box 149342, Austin, TX 78714-9342, or by fax to 855-887-7737 — those are the only 2 accepted channels for a foreign-owned disregarded entity.
There is no electronic filing path for a foreign-owned single-member LLC, no matter how many years you are catching up. Both late packages must travel by mail or fax. Many owners fax both years the same day and keep the two transmission confirmations as proof — that is perfectly acceptable and the fastest option.
| Method | Where | Proof to keep |
|---|---|---|
| P.O. Box 149342, Austin, TX 78714-9342 | Certified-mail receipt per year | |
| Fax | 855-887-7737 | Fax confirmation per year |
Source: IRS Instructions for Form 5472 (foreign-owned U.S. DE). Verified June 2026.
The complete sending checklist, including how to label each year, is on our missed Form 5472 guide. Whichever channel you choose, send both years together so nothing slips.
It can. The IRS may waive the $25,000 penalty for each year if you show reasonable cause — an honest, documented reason for the failure — and you file voluntarily. There is no guaranteed outcome, but a clear written statement materially improves your odds.
Reasonable cause means you exercised ordinary business care and prudence but still could not file on time — for example, you genuinely did not know a zero-revenue foreign-owned LLC had to file, or you relied on a preparer who never mentioned Form 5472. Attach a short, factual statement to each late year explaining what happened and what you did to fix it the moment you learned.
We do not provide IRS representation or penalty-abatement services, but we do prepare your returns correctly and on a clean record, which is the foundation any reasonable-cause request stands on. For sample wording and real scenarios, see reasonable-cause examples.
Almost certainly no. Under FinCEN's March 2025 interim final rule, US-formed entities — including foreign-owned US LLCs — are exempt from BOI reporting; only foreign reporting companies file. Form 5472 is separate and still required for both years.
Owners catching up often worry they have missed a beneficial-ownership (BOI) report too. As of FinCEN's March 2025 interim final rule, a domestically formed entity such as your US LLC is exempt from BOI reporting — only entities formed abroad and registered to do business in the US must file. That removes one source of anxiety.
It does not, however, touch Form 5472. The two filings are entirely separate regimes, and your two missed Form 5472 years remain due regardless of your BOI status. Keep the focus on the two pro forma 1120 packages described above, and start them on the apply page if you want help.
form5472.tax prepares each missed year for a flat $299, so two years is two filings. That is a fraction of the $50,000 exposure and cheaper per year than form5472.online at $547 or doola at $1,999/year.
Compare the math plainly: each unfiled year risks $25,000, while professional preparation costs a flat $299 per year. Catching up two years correctly and voluntarily is the cheapest insurance you will ever buy against a $50,000 penalty. We prepare each year's pro forma Form 1120 with Form 5472, review it, and give you a ready-to-send package.
| Provider | Price per year | Two years |
|---|---|---|
| form5472.tax | $299 | $299 × 2 |
| form5472.online | $547 | $1,094 |
| doola | $1,999/year | $3,998 |
Source: published competitor pricing. Verified June 2026.
See the full breakdown on the pricing page, or read the longer playbook on the catch-up filing guide.
Two years of Form 5472 + pro forma 1120, prepared, reviewed, and filed for a flat $299 per year. Or message us first — we answer every question before you pay.