Taxes and bookkeeping for a foreign-owned LLC: what to file and what it costs

Written and fact-checked by Alan Maldonado · Updated Oct 23, 2026 · 4 min read

If you live outside the US and own a US LLC alone, your yearly paperwork comes from two places: the IRS, which asks for an information return even when the LLC owes no tax, and your state, which asks for a report, a fee or both. This guide covers what each one asks, what records make it easy, and what it costs to hand it off.

What you file with the IRS

Every year: Form 5472 and a pro forma Form 1120. A single-member LLC owned by a foreign person is a “foreign-owned U.S. DE” for this form. It files whenever there was a reportable transaction with the owner, which includes the money you put in and take out. The Form 5472 guide covers who files, what goes on it, the fax number and address (it can’t be filed electronically), the deadline and the extension.

Sometimes: your own US tax return. The LLC is disregarded for income tax, so its income is yours. The IRS says a return is required from “a nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during the year,” on Form 1040-NR. Whether selling to US customers from abroad counts as a US trade or business depends on your facts and on any tax treaty with your country. That question is the main reason to talk to a US tax professional.

Not anymore: BOI reports. Under FinCEN’s final rule of August 2026, US companies are exempt from beneficial ownership reporting; our yearly obligations guide has the details.

What you file with your state

Most states ask for an annual or biennial report, a fee or a minimum tax, on a fixed date or in your anniversary month. New Mexico asks for neither. The compliance calendar lists every state’s dates and lets you download them to your calendar, with Form 5472 included for foreign-owned LLCs.

Bookkeeping: what to keep

Form 5472 asks for the money that moved between you and the LLC, so the books you need are simple but complete:

• A separate bank account for the LLC, so its statements show every contribution and withdrawal.
• Proof of each contribution and distribution: transfers in, owner draws, and LLC expenses you paid personally.
• Invoices and receipts for what the LLC sells and buys.

The rule is that these records are kept in the United States, unless you meet the conditions for keeping them abroad, one of which is delivering them to the IRS within 60 days of a request.

What it costs to hand it off

Prices are per year, as each provider lists them. “Not confirmed” means we couldn’t confirm a price from a public page.

How to choose:

• You only need the IRS filing and already have a registered agent and address: Firstbase Tax is the cheapest listed option.
• You want one provider for everything, from the LLC to the state report and the IRS: doola Tax and Compliance. Compare what you already pay for those pieces before switching.
• You have US customers, payroll or several income sources: a US accountant, who can also answer whether you owe US income tax.

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Firstbase pricing · doola pricing · doola vs Firstbase

Sources

Checked October 23, 2026.

• IRS, Instructions for Form 5472 and Taxation of nonresident aliens
• Treas. Reg. §1.6038A-3 (record maintenance), Cornell LII
• Firstbase, Pricing
• doola, Pricing and Tax filing

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