Form 5472 vs 1040-NR: Which Do I File?

They are different filings. Form 5472, attached to a pro forma Form 1120, reports your foreign-owned LLC's transactions with you and is required for any year with a reportable transaction. Form 1040-NR is your personal US income tax return, generally required if you were engaged in a US trade or business or had under-withheld US-source income.

Last reviewed September 23, 2026

Foreign owners of US LLCs often hear about both forms and assume one replaces the other. It doesn't. They answer different questions:

• Form 5472 asks: what transactions happened between the LLC and its foreign owner?
• Form 1040-NR asks: how much US income tax does this nonresident individual owe?

You might need one, both or, in some years, neither. This post explains how to tell. For the Form 5472 side, the free Form 5472 Checker gives a year-by-year answer.

What is the difference between Form 5472 and Form 1040-NR?

Why does the LLC file a "corporate" form if it's disregarded?

For income tax, a US single-member LLC is usually disregarded. The IRS ignores it and treats the income as the owner's (Treas. Reg. §301.7701-2). That's why the LLC's profit, if any, shows up on the owner's return, not the LLC's.

For one purpose only, section 6038A reporting, a single-member LLC with a foreign owner is treated as a domestic corporation. This rule applies to tax years beginning after December 31, 2016, and ending on or after December 13, 2017. Because it is "a corporation" for that purpose, it reports on Form 5472, attached to a Form 1120 that is completed only "pro forma." The Instructions for Form 5472 say the only information required on that Form 1120 is the LLC's name and address and items B and E on the first page.

So the pro forma 1120 isn't a tax return in the usual sense. It's the envelope that carries Form 5472.

When does a foreign LLC owner need Form 1040-NR?

The Instructions for Form 1040-NR (2025 tax year) list several situations. The two most relevant for LLC owners are:

1. You were a nonresident alien engaged in a trade or business in the United States during the year. You file even if you had no income from that business, no US-source income, or your income is exempt under a tax treaty.
2. You were not engaged in a US trade or business, but you had US-source income on which the tax wasn't fully satisfied by withholding.

Because the LLC is disregarded, the LLC's activities are treated as your activities for income tax. If the LLC is engaged in a US trade or business, you generally are too.

Whether that's the case is a factual question. Relevant points include where the work is actually performed, whether the business has people, an office or property in the United States, and whether a tax treaty between the US and your country applies. Two founders with similar-looking LLCs can end up in different positions. This is the part of the analysis where professional advice matters most.

What if the LLC is owned by a foreign company, not a person?

Then Form 1040-NR isn't the relevant return, because it's for individuals. A foreign corporation files Form 1120-F if, among other things, it was engaged in a trade or business in the United States during the year (even if it had no US-source income or its income is treaty-exempt), or it had US-source income on which tax wasn't fully withheld. The Form 5472 rules for the LLC work the same way whether the owner is a person or a company.

Can I need Form 5472 but not Form 1040-NR?

Yes, and this is common. Consider a founder who lives abroad, performs all the work abroad and has no US people or property. They fund the LLC's bank account (a contribution) and take distributions (also reportable). The LLC must file Form 5472 for those years. Whether the founder also needs Form 1040-NR depends on the trade-or-business and US-source income questions above, and the answer may be no.

Can I need Form 1040-NR but not Form 5472?

It's less common, but possible in a year when nothing moved between you and the LLC. No contributions, no distributions, no loans, no expenses you paid personally and no related-party services. Then the LLC may have no Form 5472 requirement for that year, while you might still have a 1040-NR requirement if you were engaged in a US trade or business.

Does filing Form 1040-NR satisfy the Form 5472 requirement?

No. Form 5472 is filed separately, attached to the pro forma 1120, by fax or mail to the dedicated IRS address. Filing your personal return doesn't replace it. Note too that the foreign-owned DE uses the same tax year as its owner if the owner has US filing requirements, and otherwise the calendar year.

Where do I start?

1. Run the Form 5472 Checker to see which years the LLC needs Form 5472.
2. Read the Form 5472 pillar guide for filing steps, and the $1 contribution trap if you're unsure whether small transfers count.
3. For the 1040-NR question, get a review of how and where the business actually operates. Our tax filing and global services teams work with foreign founders on both filings. Our Foreign-Owned LLC Compliance Review is a fixed price, quoted upfront.
4. If you're a US person paying quarterly tax on LLC income instead, the Quarterly Estimated Tax Calculator may be more relevant.

Frequently asked questions

Is the pro forma Form 1120 a tax return for my LLC?

Not in the usual sense. For a foreign-owned disregarded entity, the Instructions for Form 5472 say only the name, address and items B and E on page 1 of Form 1120 are completed. Its role is to carry Form 5472. No corporate tax is computed on it.

Does my LLC pay US tax because it files Form 1120?

Filing the pro forma 1120 doesn't create tax. For income tax the single-member LLC is still disregarded, so any US tax is determined on the owner's return (Form 1040-NR for individuals, Form 1120-F for foreign corporations), if the owner has a filing requirement.

I have no US income. Do I need Form 1040-NR?

Not necessarily. The instructions require it if you were engaged in a US trade or business, even with no income from it, or had US-source income that wasn't fully covered by withholding. If neither applies, and no other listed situation applies, you may not need to file. Check the full list in the instructions.

Does a tax treaty remove the need to file 1040-NR?

Not always. The 1040-NR instructions say a nonresident alien engaged in a US trade or business must file even if the income is exempt under a tax treaty.

Are the penalties the same for both forms?

No. Form 5472 has a fixed penalty under IRC §6038A(d): $25,000 per year per related party for tax years beginning after December 31, 2017. Form 1040-NR falls under the general late-filing and late-payment rules, which depend on the tax owed.

Sources

• Instructions for Form 5472 (Rev. December 2024): https://www.irs.gov/instructions/i5472
• Instructions for Form 1040-NR (2025): https://www.irs.gov/instructions/i1040nr
• Instructions for Form 1120-F (2025): https://www.irs.gov/instructions/i1120f
• Treas. Reg. §301.7701-2: https://www.ecfr.gov/current/title-26/section-301.7701-2
• IRC §6038A: https://www.law.cornell.edu/uscode/text/26/6038A

This guide provides general information for educational purposes and is not tax, legal or accounting advice. Consult a qualified professional before acting.