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Tips for filling out Form 5472 (for a single member LLC)

Not legal or tax advice

Part I

An Employer Identification Number (EIN) is required to file Form 5472. See below for more information about Form SS-4 (Application for EIN).

Business activity codes can be found in the instructions for Form 1120.

Boxes 1n and 1o will generally be the country of residence of the LLC owner or the country where the work is performed.

Line 3: A foreign-owned U.S. DE should mark this box.

Part II

Box 4b(1) -- enter FOREIGNUS if you do not have an ITIN number

Box 4b(2) -- This is a number that is established by or on behalf of the reporting corporation that is assigned to the foreign shareholder for purposes of unique identification. The reference ID # should consist only of numbers and letters (no special characters) and no longer than 50 characters. It must be used consistently from year to year.

In plain English, you decide what this ID number is, it must be 50 characters or less, and it must be listed the same on the form from year to year.

Box 4b(3) -- You must enter your foreign tax identification number if you have one

Part III

The owner of the single member LLC will be listed in both Part II (as a 25% foreign shareholder) and in Part III (as a Related Party).

Part IV

A single member LLC with no USTOB or ECI would not report any amounts in this section.

Part V

This box should be checked, and amounts paid or received in connection with the formation, dissolution, acquisition, and disposition of the LLC, including any contributions to or distributions from the LLC, should be described on a separate statement.

Part VI

This box should be checked. At minimum, a description of all services performed by the foreign related party (you) for the LLC and a reasonable estimate of the fair market value of the services should be attached on a separate sheet.

If the amount(s) do not exceed $50,000, it can be reported as '$50,000 or less'.

Example: "The Company's sole member materially participates in the operations of the Company. The fair market value of this participation is $50,000 or less. The sole member is a citizen and tax resident of (your country) and performs all services for the Company while physically present in (your country). "

Part VII

For a service based LLC, this section will generally not apply and boxes can be marked 'no'. Individual circumstances may vary and you are urged to seek advice of a tax professional with any questions.