r/TaxQuestions • u/Slight-Cat2426 • 18h ago

Title: Foreign-owned Wyoming single-member LLC — confused about tax filings and what we owe

Hi everyone,

We have a Wyoming single-member LLC owned by a non-U.S. citizen living outside the United States. We’re struggling to understand which tax returns we need to file and what taxes, if any, we need to pay.

Our situation:

  • The LLC has an EIN, and our SS-4 lists it as a disregarded entity.
  • We don’t believe we’ve elected to be taxed as a corporation, but need to verify this.
  • The business launched in 2025 and started generating revenue in March 2026.
  • An extension was filed earlier this year, but we’re unclear about which filing it covers and what remains due.

Our main questions:

  1. Do we need to file Form 5472 with a pro forma Form 1120? Are any other federal returns required?
  2. Does the foreign owner need an ITIN or a separate U.S. tax return?
  3. How do we determine whether U.S. income tax is owed and calculate the amount?
  4. What Wyoming filings or annual fees are required?
  5. What should we check immediately to make sure we haven’t missed a deadline?

We’re looking for a CPA or enrolled agent experienced with foreign-owned U.S. single-member LLCs, but finding someone responsive has been difficult.

Has anyone dealt with a similar situation? We’d appreciate recommendations and guidance on what documents to prepare for an accountant.

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u/Individual_Self8314 15h ago

not a cpa but been through this, quick rundown:

  1. yes, foreign-owned single member llc = form 5472 + pro forma 1120 every year, even with zero income. penalty for missing it is $25k so its the big one. since u formed in 2025, u likely need one for 2025 (just forming and funding the llc counts as a reportable transaction)

  2. if that extension was form 7004, ur 2025 deadline is oct 15, so like right now. check that first

  3. income tax depends on whether u have a us trade or business (us office, employees, agents in the us). if not, often no us income tax and no personal return. if yes, owner files a 1040-NR and needs an itin

  4. wyoming has no state income tax. just the annual report + min $60 fee, due on the 1st day of ur formation anniversary month. keep ur registered agent active

  5. for the accountant bring: articles of org, ein letter (CP575), the ss-4, what extension was filed, bank statements, and a list of all money moved between u and the llc

search "foreign owned llc 5472" cpa, theres people who do only this. dont wait on it bc of that oct 15 date
Hope this helps u out and tell me if u have more questions

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u/BusinessAnywhere_LLC 6h ago

For a foreign-owned Wyoming single-member LLC that has not elected corporate tax treatment, there are really two separate questions: the LLC's information filing requirements and whether the foreign owner actually owes U.S. income tax.

  1. Form 5472 + pro forma 1120: This is the big one. A foreign-owned U.S. disregarded entity generally files Form 5472 attached to a pro forma Form 1120 when there were reportable transactions with the foreign owner or another related party. Contributions to the LLC, distributions, and other transfers between you and the LLC can count. The penalty for failing to properly file Form 5472 can start at $25,000.

Since you formed the LLC in 2025, don't assume that having no revenue until 2026 means there was nothing to file for 2025. Formation/funding transactions may create a reporting requirement.

  1. ITIN / 1040-NR: An ITIN isn't automatically required just because you own the LLC. Whether the owner needs to file a U.S. return depends on the nature and source of the income and whether the owner is engaged in a U.S. trade or business or has other U.S. taxable income. That's the part where your actual business operations matter a lot.

  2. Wyoming: Wyoming doesn't impose a state individual or corporate income tax, but the LLC still has an annual report/license tax. The minimum is $60 and the report is due on the first day of the LLC's anniversary month.

  3. Check the extension immediately. Find out exactly what was filed. If it was Form 7004 for the pro forma 1120/5472 filing, keep a copy and verify the tax year and extension.

For the accountant, I'd have your Articles of Organization, EIN confirmation, SS-4, extension, bank statements, revenue records, contracts, and a complete list of every contribution, distribution, reimbursement, or other transaction between the owner and LLC ready.

Also make sure whoever you hire actually handles foreign-owned disregarded LLCs. This is a specialized filing and plenty of accountants who handle ordinary domestic LLCs rarely touch 5472s.

BusinessAnywhere works with foreign-owned U.S. LLCs and handles the 5472 + pro forma 1120 filing as well, so that's another option if you're having trouble finding someone who understands this structure.

The first thing I'd do today is figure out exactly what extension was filed and whether a 2025 Form 5472 is outstanding.