Do Foreign-Owned US LLCs Still File a BOI Report in 2026?

No. A U.S. LLC owned by a non-U.S. person no longer files a beneficial ownership information (BOI) report with FinCEN. FinCEN exempted U.S.-created companies in March 2025, and its final rule, effective August 14, 2026, made that exemption permanent. Form 5472 is a different filing, owed to the IRS, and the BOI change does not affect it.

BOI reporting and Form 5472 are easy to confuse because both ask who owns your LLC. They come from different laws, go to different agencies, and have different penalties. BOI reporting was a FinCEN anti-money-laundering requirement under the Corporate Transparency Act. Form 5472 is an IRS information return that a foreign-owned U.S. single-member LLC files with a pro forma Form 1120 to report transactions with its owner and other related parties.

If your LLC had money or property move between you and the company this year, Form 5472 is still on your list. You can start your Form 5472 filing with Snapfile in about 15 minutes.

What changed for BOI reporting in 2026?

BOI reporting began in 2024, was narrowed by an interim rule in March 2025, and was made permanent in its narrowed form in August 2026.

Date	What happened	Effect on a U.S. LLC owned by a non-U.S. person
January 1, 2024	FinCEN's BOI reporting rule took effect under the Corporate Transparency Act	Most U.S. LLCs, including foreign-owned ones, had to report their beneficial owners
March 2025	FinCEN issued an interim final rule exempting domestic companies	U.S.-formed LLCs no longer had to report
August 11, 2026	FinCEN announced the final rule	Confirmed the exemption permanently
August 14, 2026	Final rule published and effective (91 FR 52508)	No BOI report for U.S.-formed companies

FinCEN's August 11, 2026 announcement states that the final rule "permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information" to FinCEN under the Corporate Transparency Act. The Act itself was not repealed; FinCEN changed the regulation that defines who must report.

Does a U.S. LLC with a non-U.S. owner still file a BOI report?

A U.S. LLC with a non-U.S. owner does not file a BOI report. The exemption turns on where the company was formed, not on the owner's nationality. An LLC formed in Wyoming, Delaware, New Mexico, or any other U.S. state is a domestic company, so it is outside BOI reporting even when every owner lives abroad.

BOI reporting now applies only to entities formed under the law of another country that have registered to do business in a U.S. state or tribal jurisdiction, which FinCEN formerly called "foreign reporting companies". Unless an exemption applies, those companies still report, and only for their foreign beneficial owners. A U.K. limited company registered to do business in Texas is an example. A Delaware LLC owned by a U.K. resident is not.

Some states have their own disclosure rules, separate from FinCEN's BOI reporting. New York, for example, requires a beneficial-owner disclosure from LLCs formed outside the United States that are authorized to do business in New York, effective January 1, 2026. Check the rules where your LLC is formed or registered.

Why the BOI change does not affect Form 5472

The BOI change does not affect Form 5472 because the two filings rest on different laws. BOI reporting comes from the Corporate Transparency Act and FinCEN's regulations. Form 5472 comes from section 6038A of the Internal Revenue Code and IRS regulations, and nothing in FinCEN's rule changed them.

Under Treasury Regulation §301.7701-2(c)(2)(vi), a U.S. single-member LLC wholly owned by a foreign person is treated as a corporation for section 6038A purposes. That rule is why a foreign-owned LLC that is "disregarded" for income tax still files Form 5472 with a pro forma Form 1120.

	BOI report	Form 5472
Agency	FinCEN (U.S. Treasury)	Internal Revenue Service
Legal basis	Corporate Transparency Act, 31 CFR 1010.380	Internal Revenue Code §6038A, Treas. Reg. §1.6038A-2
Who files in 2026	Only companies formed outside the U.S. and registered to do business in a U.S. state, unless an exemption applies	Foreign-owned U.S. single-member LLCs (and U.S. corporations at least 25% foreign-owned) with reportable transactions in the tax year
What it reports	Who owns and controls the company	Transactions between the LLC and its foreign owner or other related parties
How it is filed	Online with FinCEN	Fax or mail to the IRS with a pro forma Form 1120; no e-file
Deadline	Not applicable to U.S.-formed LLCs	April 15 for calendar-year LLCs, or October 15 with a Form 7004 extension
Penalty for not filing	Not applicable to U.S.-formed LLCs	$25,000 for each tax year of failure under IRC §6038A(d)(1)
Status in 2026	Ended for U.S.-formed companies	Unchanged

Does every foreign-owned LLC have to file Form 5472?

Not every foreign-owned LLC files Form 5472 every year. Treasury Regulation §1.6038A-2 requires the form for a year with reportable transactions between the LLC and a related party, and provides an exception when there were none. In practice, many active LLCs have at least one: the owner paying the formation fee, wiring start-up money, paying a software bill personally, or taking money out.

The regulations specifically include contributions to and distributions from a foreign-owned disregarded entity as reportable. That is why an LLC with no revenue can still owe Form 5472. Our guide to Form 5472 with no revenue walks through the common cases, and the reportable transactions guide lists each category.

The three-question check: do you owe BOI, Form 5472, or neither?

Answer three questions about the company and its tax year to see which filing applies.

1. Where was the company formed?	2. Who owns it?	3. Any money or property between the company and its owner or another related party this year?	BOI report to FinCEN	Form 5472 to the IRS
A U.S. state	One non-U.S. person	Yes	No	Yes, with a pro forma Form 1120
A U.S. state	One non-U.S. person	No, and you can document that	No	The regulatory exception may apply; keep records showing why
A U.S. state	U.S. persons only	Any	No	Not under the foreign-owned disregarded entity rule
Another country, registered to do business in a U.S. state	Non-U.S. persons	Any	Yes, for foreign beneficial owners, unless an exemption applies	Depends on the company's own U.S. tax position; get specific advice

A typical first-row case: a founder living abroad forms a Wyoming LLC through a formation service, pays the state fee from a personal card, and later wires start-up money to the LLC. BOI reporting does not apply. Form 5472 does, as long as the founder is a non-U.S. person and the LLC kept its default disregarded-entity status.

How to file Form 5472 for a foreign-owned LLC in 2026

1. Confirm the LLC had a reportable transaction during the tax year, such as an owner contribution, a distribution, a loan, or an owner-paid expense.
2. Gather the LLC's EIN, address, and formation date, plus the owner's name, address, country of residence, and foreign tax identification number if the owner has one.
3. Total each type of transaction between the LLC and its owner or other related parties for the year, in U.S. dollars.
4. Complete Form 5472 and attach it to a pro forma Form 1120 that shows the LLC's identifying information, with "Foreign-owned U.S. DE" written across the top, as the IRS instructions for Form 5472 require.
5. Sign the pro forma Form 1120 in its signature block and send the package to the IRS by fax to 855-887-7737 or by mail to the address in the instructions, because Form 5472 for these LLCs cannot be e-filed.
6. Keep the fax confirmation or mailing proof and the records behind every number on the form.

For a calendar-year LLC, the package is due April 15 of the following year, or October 15 if a Form 7004 extension is faxed or mailed by April 15. The Form 5472 deadlines and extensions guide covers fiscal years and short years.

What if you skipped Form 5472 because BOI reporting ended?

If you skipped Form 5472 because BOI reporting ended, file the missed returns as soon as possible. The October 15, 2026 extended deadline for the 2025 tax year has passed, so a 2025 Form 5472 filed now is late.

The IRS Delinquent International Information Return Submission Procedures (DIIRSP) let a taxpayer file late information returns and attach a reasonable cause statement, but only if the IRS has not already contacted them about those returns and they are not under examination or criminal investigation. Filing before any IRS letter arrives is a condition of using these procedures. The IRS says penalties may still be assessed without considering the statement, so be ready to answer IRS correspondence. Our missed deadline guide and DIIRSP catch-up guide explain the process step by step.

How Snapfile handles Form 5472 for foreign-owned LLCs

Snapfile prepares and files Form 5472 with a pro forma Form 1120 for foreign-owned U.S. single-member LLCs. You answer questions about your LLC, your details as owner, and the year's transactions. Snapfile builds the complete package, including a reasonable cause statement for late years, runs it through system checks for completeness and format, and collects your signature online. It then faxes the package to the IRS and sends you the transmission receipt.

The price is $89 for one tax year with the IRS fax included, plus $69 for each additional past year. A two-year catch-up costs $158 and a three-year catch-up costs $227. See pricing for details, or start your filing.

Frequently asked questions

Do foreign owners of a U.S. LLC still have to file a BOI report in 2026?

No. FinCEN exempted companies created in the United States in March 2025, and its final rule made the exemption permanent on August 14, 2026. An LLC formed in any U.S. state is exempt even if every owner lives outside the United States.

Which companies still file BOI reports?

Only entities formed under another country's law that registered to do business in a U.S. state or tribal jurisdiction still file, unless an exemption applies. They report only their foreign beneficial owners. A U.S.-formed LLC owned by a non-U.S. person is not a foreign reporting company.

Do I still need to file Form 5472 now that BOI reporting is gone?

Yes, if your LLC had a reportable transaction with you or another related party during the year. Form 5472 is an IRS return under Internal Revenue Code section 6038A, and the BOI change did not alter it.

Does an LLC with no revenue have to file Form 5472?

Often, yes. Owner contributions and distributions are reportable transactions, so an LLC whose owner paid the formation fee or transferred start-up money can owe Form 5472 even with zero revenue. Only a year with no reportable transactions at all can qualify for the regulatory exception.

Can I e-file Form 5472 for a foreign-owned LLC?

No. A foreign-owned U.S. disregarded entity files Form 5472 with a pro forma Form 1120 by fax to the IRS at 855-887-7737 or by mail to the address in the IRS instructions. E-filing is not available for this package.

What is the penalty for not filing Form 5472?

The penalty is $25,000 for each tax year of failure under IRC section 6038A(d)(1). If the failure continues more than 90 days after the IRS mails a notice, an additional $25,000 can apply for each 30-day period.

Is a BOI report the same as a state annual report?

No. A state annual report is filed with the state where the LLC was formed, usually to keep the LLC in good standing. BOI reporting was a federal FinCEN requirement, and Form 5472 is a federal IRS return. Each has its own deadline.

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BOI reporting for U.S.-formed LLCs ended in March 2025 and was made permanent in August 2026. Form 5472 did not end. If your foreign-owned LLC had any transaction with you this year or in a past year you have not filed, start your Form 5472 filing with Snapfile: $89 per year with the IRS fax included.

This article is general information, not legal or tax advice. Snapfile is not a law firm or CPA firm.