United States

Company formation, bookkeeping and tax in the United States

From our US office we form companies and non-profits, keep books and filings current, and help foreign founders meet US reporting rules such as Form 5472. Our managing partner is registered with the IRS as a tax return preparer (PTIN holder).

• A single-member LLC owned by a foreign person is generally a disregarded entity that must still file Form 5472 with a pro forma Form 1120 every year, even with no income.
• The penalty for failing to file Form 5472 starts at $25,000 per form, per year.
• The federal corporate income tax rate for C-corporations is 21%.
• Most states require an annual report and a registered agent to keep a company in good standing.

Can a non-US resident own a US LLC?

Yes. Non-residents can own a US LLC or corporation without a visa or US address. They need a registered agent in the state of formation and an EIN from the IRS, and they take on annual federal and state filing obligations.

Does a foreign-owned US LLC with no revenue need to file anything?

Usually yes. A foreign-owned single-member LLC must file Form 5472 with a pro forma Form 1120 to report transactions with its owner, such as capital contributions and payments of formation costs, even in a year with no revenue.

Do I need an ITIN?

You need an ITIN if you must file a US tax return, such as Form 1040-NR, and are not eligible for a Social Security number. An EIN identifies the company; an ITIN identifies you as an individual.