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Foreign-owned LLCs Must Pay Attention to the IRS

- Feb/2019

Single-member LLC’s (Limited Liability Company) in the United States are treated by the IRS (Internal Revenue Service) as “disregarded entities”. Unlike corporations, disregarded entities are typically not required to obtain an EIN, nor do they have filing obligations above and beyond the owner’s regular filing obligations. Until recent changes described herein, if a foreign owner had no U.S. tax filing requirement, the disregarded entity that they owned also had no filing requirement (assuming no income or business in the U.S.).

Notably, the prior application of Form 5472 was limited to disclosure of natural owners of foreign-owned U.S. corporations; now its use has expanded beyond corporations and covers foreign owners of disregarded entities (LLC).

If you are the owner of a single member LLC you will be required to file Form 5472 before its filing deadline, on April 15th, 2019. If you need assistance with this IRS filing requirement please contact HAYMAN-WOODWARD PLLC. We are here to assist you with all your US filing obligations.

If you have plans to internationalize your investments, develop business, and begin your expatriation process, it is important to have a team of lawyers with proven experience, acting in several jurisdictions and accredited by their respective governments. Our highly specialized professionals possess the technical skills required to evaluate the best alternatives and meet your needs and expectations.

To know which immigration option best suits your profile and that of your family, in addition to knowing more about the many possible alternatives for your projects to develop successfully, talk to one of our expert attorneys. Schedule a consultation with HAYMAN-WOODWARD PLLC now.

Our attorneys will assist you in all the details of your expatriation, at all stages, including business development in the United States. For our law firm, each case is unique and is treated as such, with personalized and individualized solutions.

HAYMAN-WOODWARD PLLC is a Washington (D.C) based law firm, specializing in immigration and federal tax laws. All legal services are provided by duly-licensed attorneys in each jurisdiction.

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