The foreign-owned US LLC tax filing checklist

For a typical non-US owner of a single-member US LLC with no US-source income, four filings are on the radar each year: Form 5472 + pro forma 1120 (federal, mandatory), the state annual report (state, mandatory), BOI (FinCEN, currently suspended for existing entities), and FBAR (only if your LLC has a foreign bank account holding $10k+). Most of the federal income-tax forms non-residents worry about (1040-NR, 1040, 1065) do not apply to this setup.

This is the consolidated checklist — every filing in the same place, with what each one is and isn't, so you can tell at a glance what you owe and what you don't.

1. Form 5472 + pro forma Form 1120 — federal, mandatory

• Who: every foreign-owned US single-member LLC, even with $0 revenue.
• When: April 15 (calendar-year LLC) — see the deadlines guide.
• How: faxed to the IRS Ogden PIN Unit (the IRS does not accept Form 5472 e-filed for disregarded entities).
• Penalty: $25,000 per form, per year for failure to file (IRC §6038A(d)).
• Snapfile handles this for $89 — fax delivery included.

2. State annual report — state, usually mandatory

• Who: every US LLC, regardless of ownership.
• When: varies by state. Wyoming = anniversary month of formation. Delaware = June 1 (LLC franchise tax). New Mexico = none.
• Cost: Wyoming $60 minimum, Delaware $300, NM $0.
• What happens if you miss it: the state administratively dissolves your LLC. Usually reversible by paying the missed reports + a late fee, but it's an avoidable headache.

3. BOI report to FinCEN — federal, currently suspended for existing entities

• Status as of 2026: following the Corporate Transparency Act litigation and the March 2025 interim final rule, FinCEN exempts domestic reporting companies from BOI filing. Foreign reporting companies (entities formed outside the US and registered to do business in a US state) still file. A single-member LLC formed in a US state by a foreign owner is a domestic reporting company — exempt under the current rule.
• Watch this: the rule has shifted multiple times. Confirm status with FinCEN before assuming you're exempt for the current year.

4. FBAR (FinCEN Form 114) — only if you have foreign accounts

• Who: US persons with signature authority over foreign financial accounts whose aggregate balance exceeded $10,000 at any point during the year. A non-US owner is not a US person, so the LLC itself files only if it has its own foreign accounts and the owner is a US person.
• Translation for the typical Snapfile customer: if your LLC banks at Mercury / Wise / Relay (all US banks), FBAR does not apply. If your LLC opens a UK or HK account, the LLC may need to file — depends on whether it's treated as a US person for FBAR purposes (yes, disregarded entities are; the owner's status affects who files).

What you do not have to file

• Form 1040 / 1040-NR. These are personal income-tax returns. A non-US owner with no US-source income doesn't owe a personal return at all. See: 5472 vs 1040-NR.
• Form 1065 (partnership return). Only applies to multi-member LLCs. Add a second owner and this changes — read this first.
• Form W-8BEN / W-8BEN-E. Not a filing you submit to the IRS; you give it to US payers withholding on US-source income. Most foreign-owned LLCs without US-source income never need it.
• State income tax. Wyoming, South Dakota, Nevada, Texas, Florida, Washington, Tennessee, New Hampshire, Alaska — no state income tax. A foreign-owned LLC formed in any of these has no state income return either. Delaware has corporate income tax but it doesn't apply to a disregarded LLC with no Delaware-source income.

What about US sales tax?

Separate question from income tax. If you sell to US customers (e-commerce, SaaS in some states, digital downloads in some states), you may have economic nexus with a state once you cross its threshold (commonly $100k or 200 transactions in a calendar year). Sales-tax nexus is independent of LLC formation state and independent of the Form 5472 obligation — handle it via a service like TaxJar or Avalara if it applies.

The annual rhythm

1. January: gather bank statements + capital contribution records for last year.
2. March: file Form 5472 + 1120 (a month early gives you cushion against fax issues).
3. State month: file the annual report (date varies — set a calendar reminder for your formation anniversary).
4. April 15: the federal deadline. Snapfile sends auto-reminders 90 + 30 days before.

Snapfile's scope is the federal Form 5472 + 1120. We don't prepare state returns or FBARs — most non-US founders don't need them. If you do, your state of formation publishes simple online filing forms, and FBAR is filed free at bsaefiling.fincen.treas.gov. Start your Form 5472 filing.