IRS Form 5472 is required for any foreign-owned U.S. corporation or foreign individual with U.S. business interests to report specific transactions to the IRS. Failing to file correctly or on time can result in steep penalties starting at $25,000.
Walter Ludlow, CPA understands the complexities and compliance demands of Form 5472. With deep knowledge of both U.S. and international tax law, we make the process simple and secure.
Any 25% foreign-owned U.S. corporation or foreign corporation engaged in U.S. trade or business.
A minimum of $25,000 per failure, with additional penalties for continued noncompliance.
Any transaction with a related foreign party, such as sales, leases, loans, and payments.
It’s due on the same date as the corporation’s income tax return, including extensions.
Individuals cannot file Form 5472 directly, but it applies to U.S. entities they control or own.
It must be filed with Form 1120 or Form 1120-F via the IRS e-file system.
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