Get IRS 5472 2018-2023

When a foreign-owned US corporation must file Form 5472 Foreign-owned LLCs and C corps with at least 25% foreign shareholders or partners must file the information return Form 5472 for every year with reportable transactions.

The new Form 5472 filing requirement applies for tax years beginning after December 31, 2016, and ending on or after December 13, 2017. The Form 5472 is required to be filed by a reporting corporation that engages in reportable transactions with a U.S. or foreign related party.

Generally, a reporting corporation must file Form 5472 if it had a reportable transaction with a foreign or domestic related party. Exceptions from filing. A reporting corporation is not required to file Form 5472 if any of the following apply.

Purpose of Form Use Form 5472 to provide information required under sections 6038A and 6038C when reportable transactions occur during the tax year of a reporting corporation with a foreign or domestic-related party.

However, new for 2018, the IRS Form 5472 is now required to be filed by US LLCs that have a 25% non-US owner. In this circumstance, a capital contribution by the 25% non-US owner is indeed treated as a reportable transaction that triggers a requirement to file the IRS Form 5472.

Form 5472 must be filed when the corporation has a reportable transaction with the foreign shareholder. In general, most transactions with foreign shareholders are considered to be reportable. Some examples of reportable transactions include sales, rents, royalties, and interest.