CPA Explains: Form 5472 (When You Should & Shouldn’t File)

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Are you a non-U.S. resident with a U.S. LLC? You might need to file Form 5472—but should you always? In this video, CPA James breaks down when you should file, when you can skip it, and what happens if you forget. Learn from real-world examples, IRS updates, and expert filing advice to avoid unnecessary penalties.

📌 Key Takeaways
Not all foreign-owned LLCs must file 5472—context matters.
IRS penalties are real, but enforcement is inconsistent.
Filing late may be safer than not filing at all.
Always attach Form 5472 to a pro forma 1120.
Form 7004 can buy you extra time!

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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not to provide legal advice. You should contact your attorney for advice regarding any particular issue or problem.