0

Is Form 5472 (used in case owners of Delaware C Corporation are foreign) required every time with the submission of Form 1120 (used to file Federal Corporate Income Tax Returns)?

I submitted the necessary number for Form 5472 the first time around with 1120 and since then there has been no change in ownership and the same has been mentioned in the latest 1120.

1

Yes, you must file both forms each time.

Form 5472 needs to be sent to the IRS by mail or by fax. Make sure Form 5472 is attached to Form 1120. “Attached” simply means that Form 5472 is behind Form 1120 when you submit them to the IRS.

Form 5472 and Form 1120 are due every year by April 15th. https://www.llcuniversity.com/irs/form-5472-foreign-owned-llc/

In regard to a C Corperation, the company must file Form 5472 when a foreigner owns 25% or more. https://krscpas.com/irs-form-5472-what-foreign-owned-companies-need-to-know-to-avoid-penalties/

  • Can you please recommend a service which will help me to do so? TaxAct only has Form 1120 and has no mention of Form 5472. – shahz Apr 9 at 21:50
  • Also is the same case for LLC or for Delaware C Corporation as well? – shahz Apr 9 at 21:50
  • You aren't supposed to efile the 5472 using the common software. Just fax or mail it. Corporations have tons of different rules based on the circumstances and it's hard to say without knowing your exact situation. – Putvi Apr 9 at 21:54
  • thanks for the information :) Any particular service in mind which can help me do e-file form 1120 and also fax form 5472. Since all the owners of the Delaware C Corporation in question are non US residents hence we do not have a SSN. – shahz Apr 9 at 21:58
  • Yeah I get it, but theres more rules than just that for corporations. I don't know of any software for form 5427 and I don't think it is an option in any major software or allowed by the IRS to be in the software. – Putvi Apr 9 at 22:01

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.