Prepare Form 5472 For a Foreign-Owned Single Member LLC

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Jason Knott, Esq CPA

1:16:36

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1. Introduction to Form 5472 and the Course.mp4

03:04

2.1 Form 5472 Preparation Guide_Slide Deck.pdf

2. U.S. Tax Principles and Form 5472 Reporting Obligations.mp4

31:41

3.1 Form 5472_Fake Consulting Company LLC_Sample Form 5472 and 1120.pdf

3. Review Example Form 5472 for Single Member LLC.mp4

30:19

4.1 Form 7004_Extension Request_Form 5472 LLC.pdf

4. How to File an Extension Request for Form 5472.mp4

03:20

5. If I File the Form 5472 Late - What Are My Options.mp4

08:12

Description

Every foreign-owned U.S. LLC must file a Form 5472 - Make sure you are compliant!

What You'll Learn?

How to complete Form 5472 for a foreign-owned single member LLC that is a disregarded entity?
Who needs to file Form 5472, and in what circumstances is the Form not required?
What are reportable transactions of the LLC?
Where can you download the required Forms from the IRS website?
How to complete the tax forms and submit to the IRS?
What are the procedures to file an extension request?
When is a foreign bank account report (FBAR) required for a U.S. LLC.

Who is this for?

Non-U.S. persons or entities that are the sole owner of a U.S. limited liability company

What You Need to Know?

Have a basic understanding of U.S. tax filing obligations

More details

Description
This course is prepared by Jason D Knott, Esq CPA.Â Jason is a licensed CPA and tax attorney in the State of Florida, and his practice is primarily focused on U.S. and international tax issues for global entreprenuers.Â Jason works with individuals and companies that operate businesses across borders.Â He advises on transfer pricing issues, repatriation of profits, withholding tax implications, treaty benefits and positions, asset protection strategies, and estate tax minimization for U.S. and nonresident taxpayers.

In this course, Jason covers the various Form 5472 filing obligations for a foreign-owned single-member LLC and the U.S. tax rules that apply to nonresidents that have U.S. situs assets or business interests.

This course covers topics that include the following:
1. What is Form 5472 and who is required to file the form
2. What is a U.S. trade or business (USTOB) and effectively connected income (ECI)
3. What is a reportable transaction and how are they calculated for each LLC
4. How to complete IRSÂ Form 5472 with a proforma Form 1120
5. What parts must be completed and what attachments are necessary
6. How does a single member LLCÂ file an extension request with the IRS
7. When does a U.S. LLC need to file an FBARÂ
8. If Form 5472 is filed late, what are the options to avoid penalties from the IRS.
Who this course is for:
Non-U.S. persons or entities that are the sole owner of a U.S. limited liability company

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Tax Preparation

Jason Knott, Esq CPA

Instructor's Courses

Jason is a U.S. and international tax advisor with over 10 years of U.S. and international tax experience. Jason is a licensed CPA and tax attorney in the State of Florida, and his practice is primarily focused on the U.S. and international tax issues for global entrepreneurs. Jason works with individuals and companies that operate businesses across borders. He advises on transfer pricing issues, repatriation of offshore earnings, withholding tax implications, tax treaty benefits and positions, asset protection strategies, and estate tax minimization for U.S. and nonresident taxpayers. He also assists individuals and businesses with their annual U.S. federal and state tax return filing obligations. He is experienced in preparing the following international tax forms:- Forms 5471, 5472, 8858, 8865, 8938 & 926- Foreign Bank Account Reports (FBAR)- Forms 706, 706-NA and Form 709- Entity classification elections Form 8832 & 2553Jason advises non-U.S. corporations and individuals on issues related to U.S. trade or business risks, U.S. permanent establishment risks, effectively connected income (ECI) issues, U.S. FDAP withholding, and U.S. FIRPTA withholding for U.S. situs real estate properties.

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