Form 5471 vs Form 5472: What’s the Difference?
TL;DR
Form 5471 is for U.S. persons who own a foreign corporation. Form 5472 is for foreign owners of a U.S. entity (including foreign-owned single-member LLCs). They cover opposite situations. If you’re a non-U.S. person with a U.S. LLC, you file 5472, not 5471.
Form 5471 vs Form 5472 — the core difference
The two forms sound alike and share a penalty structure, but they point in opposite directions:
| Form 5471 | Form 5472 | |
|---|---|---|
| Who files | A U.S. person | A U.S. entity that is ≥25% foreign-owned |
| About what | Their ownership of a foreign corporation | Transactions with its foreign owner / related parties |
| Typical filer | A U.S. citizen with a company abroad | A non-U.S. person’s U.S. LLC |
| Direction | U.S. person → foreign company | Foreign person → U.S. company |
The simplest way to remember it: 5471 = American owning abroad; 5472 = foreigner owning in America.
Which one does a foreign-owned U.S. LLC file?
Form 5472, attached to a pro forma Form 1120. If you are a non-U.S. person who owns a U.S. LLC, Form 5471 is not yours to file — it’s for U.S. persons with foreign corporations.
Most cross-border e-commerce sellers with a U.S. LLC are squarely in the 5472 world. See does a foreign-owned LLC with no income still file? and the $25,000 Form 5472 penalty.
What this comparison is NOT about
- Neither is Form 1040-NR. That’s a non-resident’s personal income tax return, a separate matter from these information returns.
- Neither is the FBAR. The FBAR (FinCEN 114) is about foreign bank accounts held by U.S. persons — different again.
- 5472 is not an income tax return. It’s an information return filed with a mostly-blank pro forma 1120.
Could you have to file both?
In complex structures, yes — but it’s uncommon for the typical foreign seller. A single U.S. person could, for example, both own a foreign corporation (5471) and control a foreign-owned U.S. entity (5472). If your structure is layered across countries, it’s worth a professional review to confirm exactly which forms apply.
Which applies to you — a quick check
- Are you a U.S. person (citizen / resident / green-card holder)? If yes and you own a foreign corporation → likely 5471.
- Are you a non-U.S. person who owns a U.S. LLC or corporation? → likely 5472.
- Not sure how your structure is classified? Have it reviewed — misfiling either form carries a penalty starting at $25,000.
This article is general information, not tax or legal advice. Confirm the rules that apply to your specific situation before acting.
File it the right way
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