Instructions for Form 5472 (12/2021)Internal Revenue Service-2025

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Form 5472 is an information return required by the IRS for U.S. corporations that are 25% foreign-owned or foreign corporations engaged in a U.S. trade or business. It collects details about the reporting corporation, its foreign shareholders, related parties, and monetary transactions between them for tax compliance under specific sections of the Internal Revenue Code.

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Begin with Part I by entering the tax year of the reporting corporation. Fill in the name, employer identification number, and total assets. Ensure all monetary values are in U.S. dollars.
Complete sections regarding principal business activity and gross payments made or received. Check applicable boxes for consolidated filings or initial year filings.
Proceed to Part II, where you will list any direct 25% foreign shareholders. Provide their names, addresses, and relevant identification numbers.
In Part III, identify related parties and their business activities. Fill out necessary details including U.S. identifying numbers and relationships.
Continue to Parts IV through IX, detailing monetary transactions and additional information as required by the instructions.
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When must form 5472 be filed?

Due Date: Form 5472 is due every year on April 15 for single member US LLCs with an owner who uses a calendar year or if the owner does not have a US tax filing requirement. A six-month extension can be requested by filing Form 7004 before the deadline.

What is the penalty for not filing form 5472?

Penalties for failure to file Form 5472. A penalty of $25,000 will be assessed on any reporting corporation that fails to file Form 5472 when due and in the manner prescribed. The penalty also applies for failure to maintain records as required by Regulations section 1.6038A-3.

What is reasonable cause for Form 5472?

Penalties may be waived if reasonable cause can be shown. Reasonable cause Where taxpayer can demonstrate that failures to file are due to reasonable cause and not due to willful neglect. presence in the US, no knowledge of the filing requirements, and compliant with requests related to the Form 5472.

Can I file form 5472 online?

Yes, you can file Form 5472 electronically via an IRS-approved e-filing system.

Do you report dividends on form 5472?

Transactions occurring in each and every tax year must be examined. In general, a reportable transaction is any exchange of money or property with the foreign shareholder such as a payment for sales, rents, royalties, interest. A reportable transaction does not include the payment of dividends.

2022 form 5472

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What type of transactions are typically reported on form 5472?

Under IRS Form 5472, a reportable transaction includes any monetary and non-monetary exchanges between the reporting corporation and related parties. These cover a wide range of transactions, such as: Inventory and tangible property sales and purchases.

What IRS forms can be filed electronically?

The following form types can be e-filed through the MeF Platform: Corporations (Forms 1120, 1120-F and 1120-S) Employment Tax (Forms 940, 940-PR, 941, 941-PR, 941-SS, 943, 943-PR, 944, and 945) 94x Online Signature PIN Registration. Exempt Organizations (Forms 990, 990-EZ, 990-N, 990-PF, 990-T, 1120-POL and 4720)

Can form 5472 be e-filed?

Yes, you can file Form 5472 electronically via an IRS-approved e-filing system. If you are filing as a foreign-owned disregarded entity, you now need to file a proforma Form 1120 to include limited information, attach Form 5472 to Form 1120, and file Form 1120 electronically.