Everything You Need to Know About Running a US LLC

A single-member LLC (Limited Liability Company) is a US business with one owner. Non-US residents form LLCs to accept US payments, open US bank accounts, and build a real US business presence. For tax purposes, the IRS treats a foreign-owned single-member LLC as a "disregarded entity" (an LLC the IRS does not tax separately). Your LLC does not pay US income tax on its own. But you must still file annual reports with the IRS.

→ See also: What is Form 5472 and why does my LLC need to file it?

The most common states for non-resident (non-US person living outside America) LLC formation are New Mexico, Wyoming, Delaware, and Florida. Key differences:

• New Mexico: No annual report. No state income tax. Low formation cost. No late penalties. Often the easiest choice if you have no physical US presence.
• Wyoming: Strong privacy protections, no state income tax, but requires an annual report ($60/year). Late fee: $50.
• Delaware: Well-established business law, but has a $300/year franchise tax (a yearly state business tax, separate from income tax) and annual report requirement. Late penalty: $200.
• Florida: Suitable if you have a physical US presence in Florida, but has a $138.75 annual report fee. Late fee: $400, with risk of administrative dissolution (when the state closes your LLC for not following rules).

If your LLC has no physical operations in the US, New Mexico or Wyoming are typically the most cost-effective choices.

→ See also: What is a state annual report and does my LLC need to file one?

An annual report is a state-level filing, separate from federal tax obligations. It confirms your LLC's basic information: name, address, registered agent (a person or company the state uses to contact your LLC), and members/managers. Requirements vary by state:

• New Mexico: No annual report required.
• Wyoming: Annual report due on the first day of the month the LLC was formed. Fee: $60 minimum.
• Delaware: Annual report due June 1. Franchise tax: $300.
• Florida: Annual report due May 1. Fee: $138.75.

→ See also: Which US state should I form my LLC in?

After formation, you typically receive:

• Articles of Organization: The official document filed with the state confirming your LLC exists.
• Certificate of Formation: Some states issue this as proof of registration.
• Operating Agreement: A document establishing how the LLC is managed (recommended even for single-member LLCs, and required by some banks).
• EIN: Your federal tax identification number (applied for separately after formation).

A registered agent is a person or company in your LLC's state of formation. They receive legal and government documents on behalf of your LLC. Every US state requires LLCs to maintain a registered agent with a physical address in that state. If your registered agent lapses, the state may close your LLC. You may also miss important legal notices.

→ See also: What happens if my LLC loses its registered agent?

Once your LLC is formed, you need to:

1. Apply for an EIN: Required for tax filings and opening a US bank account.
2. Appoint a registered agent: Or confirm the one designated during formation.
3. Draft an operating agreement: Not filed with the state, but needed for banking and internal governance.
4. Understand your annual filing obligations: Form 5472 + Pro Forma 1120 is due by April 15 of the following year. Some states also require annual reports.
5. Open a US bank account: You will need your EIN confirmation letter, Articles of Organization, and operating agreement. See our banking FAQ for guidance →

If your registered agent resigns or their service lapses, the state will send notices to your LLC's address on file. If not corrected, the state can revoke your LLC's good standing or administratively dissolve it. This can affect your ability to do business, maintain bank accounts, and file taxes. Replace your registered agent promptly if you receive any lapse notice.

An EIN (Employer Identification Number) is a 9-digit number the IRS issues to identify your business for tax purposes. Think of it as your LLC's tax ID. You need an EIN to file Form 5472, open a US business bank account, and set up your LLC's identity with the IRS. Every foreign-owned LLC needs one, regardless of whether it has employees or US income.

EIN Acquisition Service →

Foreign owners cannot use the IRS online application (it requires a US SSN or ITIN). Instead, you must apply by fax or mail using Form SS-4, or authorise a third party to apply on your behalf. Processing times vary:

• By fax: 4–6 weeks (IRS faxes the EIN back to a US fax number).
• By mail: 6–8 weeks or longer.
• Through a service provider: Varies by provider. We offer standard (2–3 weeks) and fast-track (24 hours) options.

EIN Acquisition Service →

An ITIN (Individual Taxpayer Identification Number) is a tax processing number. The IRS issues it to people who need a US tax ID number but cannot get an SSN (Social Security Number). You may need an ITIN if:

• You have US-source income subject to tax withholding.
• You need to file a personal US tax return.
• A bank or financial institution requires one.

An ITIN is not required to file Form 5472 or to operate your LLC. Many non-resident LLC owners never need one. We are adding ITIN acquisition to our service offerings. In the meantime, consult a licensed tax professional to determine if you need an ITIN.

→ See also: What is an EIN and why does my LLC need one?

• EIN: Identifies your business. Issued to LLCs, corporations, and other entities. Required for all foreign-owned LLCs.
• ITIN: Identifies you as an individual taxpayer. Issued to non-residents who need to file personal US tax returns or meet withholding requirements.
• SSN: Social Security Number. Only available to US citizens and authorised workers. Non-residents generally cannot obtain one.

Your LLC always needs an EIN. Whether you need an ITIN depends on your personal tax situation.

Call the IRS Business & Specialty Tax Line at +1 (267) 941-1099 (for international callers). This is the dedicated line for foreign EIN inquiries. You will need to verify the LLC name, address, and responsible party. The IRS can provide the EIN verbally and send a new confirmation letter (CP 575) by mail. Allow 4–6 weeks for the letter to arrive.

No. Each LLC must have its own unique EIN. An EIN is permanently tied to the entity it was issued to. Using another entity's EIN is a federal reporting violation and will cause filings to be rejected or attributed to the wrong entity.

Form 5472 is an IRS information return (a form that reports business activity, not a tax bill). It reports transactions between your foreign-owned US LLC and you, the foreign owner. The IRS requires it under IRC (Internal Revenue Code, US tax law) §6038A (the IRS rule requiring this filing). The IRS uses it to track money and economic activity flowing between foreign persons and US entities. You must file every year, starting from the year your LLC was formed. This is true even if your LLC had no income, no expenses, and no US bank activity.

Form 5472 Filing Service →

A pro forma Form 1120 is a simplified version of the US corporate income tax return. For a disregarded entity, it shows zero tax liability. It exists only as a required cover form for Form 5472. You file both forms together as a single package. You do not file Form 1120 on its own. You do not owe corporate income tax through this filing.

Reportable transactions include any exchange of money, goods, services, or property between the LLC and its foreign owner. Common examples:

• Capital contributions: Money you transferred into the LLC (including initial formation costs paid on behalf of the LLC).
• Distributions/withdrawals: Money you took out of the LLC.
• Loans: Money lent to or borrowed from the LLC.
• Services provided: If you performed services for the LLC or vice versa.
• Use of property: If the LLC uses property you own, or vice versa.

Even if the only transaction was paying the state filing fee to form the LLC, that is reportable.

You can request a 6-month extension by filing Form 7004 before the April 15 deadline. This extends your filing deadline to October 15. The extension is automatic. You do not need IRS approval. However, you must file Form 7004 on time to qualify.

Tax Extension Filing Service →

FBAR (FinCEN Report 114, the Foreign Bank Account Report) is a US filing requirement for US persons who hold foreign financial accounts worth more than $10,000 total at any point during the year. For foreign-owned LLCs, the key question is: does your LLC hold US financial accounts (bank or investment accounts) that you can sign for?

FBAR obligations are complex and depend on your individual circumstances. We are adding FBAR filing to our service offerings. In the meantime, consult a licensed tax professional or CPA to determine whether you have an FBAR filing obligation.

A BE-13 is a survey filing from the Bureau of Economic Analysis (BEA). You may need to file one when you create or buy a US business. It tracks foreign direct investment into the United States. If your LLC was formed with foreign capital, you may be required to file a BE-13 within 45 days of formation. Penalties for non-filing range from $4,450 to $44,539 per violation. We prepare and file BE-13 reports on your behalf.

BOIR (Beneficial Ownership Information Report) was introduced under the Corporate Transparency Act to require companies to disclose their beneficial owners (the people who actually own or control the company) to FinCEN. However, under FinCEN's March 2025 interim final rule, entities formed in the United States are currently exempt from BOIR filing requirements. This includes foreign-owned single-member LLCs.

This exemption is subject to future regulatory changes. For a full explanation of the rule and what it means for your LLC, see our BOIR information page. You can also monitor FinCEN's official guidance for updates.

A typical annual compliance calendar for a foreign-owned single-member LLC:

• January–March: Gather records for the prior tax year. Identify all reportable transactions for Form 5472.
• April 15: Form 5472 + Pro Forma 1120 due to the IRS. File Form 7004 if you need an extension. FBAR due (auto-extends to October 15).
• State deadline (varies): Annual report due (if your state requires one). Check your state's specific deadline.
• Ongoing: Maintain registered agent. Keep records of all transactions between you and the LLC. Renew any business licences if applicable.
• October 15: Extended filing deadline for Form 5472 (if Form 7004 was filed).

→ See also: What is a state annual report and does my LLC need to file one?

The penalty applies even if no tax is owed. The IRS actively issues these notices and the penalty has been upheld in court.

Yes. The IRS may grant penalty relief if you can demonstrate reasonable cause, meaning a legitimate reason beyond your control that prevented timely filing. Examples that the IRS has accepted include:

• Reliance on a tax professional who failed to file.
• Serious illness or unavoidable absence.
• Inability to obtain necessary records despite reasonable effort.

"I did not know about the requirement" is generally not accepted as reasonable cause on its own, but it may be considered alongside other factors, particularly for first-time filers. You file penalty abatement requests with the IRS in writing.

File the missing returns as soon as possible. The IRS does not have a formal voluntary disclosure programme for Form 5472, but filing late is better than not filing at all. For each missed year, you will need to prepare and submit Form 5472 + Pro Forma 1120 with the transactions for that specific tax year.

We handle prior-year filings. Contact us at info@usllcfilings.com with details of which years need to be filed. Pricing varies depending on the number of years and complexity.

→ See also: What is the penalty for not filing Form 5472?

The standard IRS statute of limitations for assessment is 3 years from the date a return is filed. However, if no return is filed at all, there is no statute of limitations. The IRS can assess penalties at any time. This is why filing late is still strongly recommended: it starts the clock on the limitation period.

Yes. The IRS has increased enforcement of international information returns, including Form 5472. The IRS issues penalty notices (CP15 notices) regularly and automatically. The $25,000 penalty is not discretionary. The IRS imposes it by default when a filing is missing or incomplete. Appeals and abatement requests are possible, but the burden is on the taxpayer to demonstrate reasonable cause.

Required documents: Most US banks require:

• EIN confirmation letter (IRS Letter CP 575 or 147C).
• Articles of Organization (certified by the state).
• Operating Agreement.
• Organizer Statement or Certificate of Organization (some banks require this as additional proof).
• Passport and a second form of ID for the owner.
• Apostilled documents (if opening remotely from abroad; requirements vary by bank).
• Proof of US business address (some banks accept the registered agent address; others require a separate physical address).

Bank options: Relay, Revolut Business, and certain community banks are commonly used by non-resident LLC owners for remote account opening, though approval is subject to the bank's compliance review and is not guaranteed. Policies change frequently, and some banks require an in-person visit.

Practical tips: Before applying, prepare a clear business description, your expected monthly transaction volume, and a source-of-funds explanation. Banks are increasingly thorough with KYC (Know Your Customer) checks for foreign-owned entities.

Need help? Contact us at info@usllcfilings.com and we can guide you through the process.

Yes. Payment processors like Stripe, PayPal, and Wise can accept payments on behalf of your LLC using your EIN, even without a traditional US bank account. However, having a US bank account simplifies operations, makes it easier to manage finances, and is needed by some payment processors for payouts.

Not automatically. A foreign-owned single-member LLC treated as a disregarded entity does not pay US federal income tax on its own. Whether the LLC's income is subject to US tax depends on several factors, including:

• Whether the income is effectively connected with a US trade or business (known as ETBUS).
• Whether a tax treaty between the US and your country of residence applies.
• The nature of the income (services, product sales, royalties, etc.).

This is a fact-specific determination. Consult a CPA or international tax professional to evaluate your situation.

If your LLC is administratively dissolved (e.g., for failing to file annual reports or maintain a registered agent), your bank may freeze or close the account. Banks periodically verify the good-standing status of their business account holders. Maintaining your LLC's compliance is essential to keeping your banking relationships intact.

→ See also: How do I dissolve my LLC?

Yes. The IRS requires you to keep records of all transactions between you and your LLC. Keep them for at least 7 years, or longer if they may be relevant to an IRS review. Good record-keeping also makes annual Form 5472 preparation straightforward. Keep records of every capital contribution, distribution, loan, expense paid on behalf of the LLC, and any other exchange of value.

We are a specialist compliance service for foreign-owned single-member US LLCs. Our current services:

• Form 5472 + Pro Forma 1120 filing: $299 (standard, 3–5 business days) / $399 (expedited, 24 hours). Details →
• EIN acquisition: $179 (standard, 2–3 weeks) / $279 (fast-track, 24 hours). Details →
• Annual maintenance package: Form 5472 filing + registered agent + state annual report. From $599/yr. Details →
• Tax extension filing: Form 7004. $75. Details →
• BE-13 filing: $279.
• Prior-year filings: Contact us for pricing.

→ See also: What services are you adding next?

Our standard Form 5472 filing includes:

• Preparation of Form 5472 and Pro Forma 1120 based on your intake form responses.
• Review for completeness and IRS compliance.
• Filing directly with the IRS.
• Filing confirmation: proof of submission for your records.
• Optional pre-filing review: want to see your forms before we submit? Just ask.

No hidden fees. The price you see is the price you pay.

Form 5472 Filing Service →

The annual maintenance package is designed for LLC owners who want all recurring compliance handled in one place. It includes:

• Form 5472 + Pro Forma 1120 filing each year.
• Registered agent service in your state of formation.
• State annual report filing (where applicable).

From $599/yr.

Annual Maintenance Service →

1. Choose your service and pay online via secure checkout.
2. Complete the intake form we send you. Takes about 10 minutes.
3. We prepare and file your documents to current IRS specifications.
4. Receive confirmation when your filing is submitted.

If you're unsure which service you need, email us at info@usllcfilings.com and we'll point you in the right direction.

Yes. Each LLC you own requires its own separate Form 5472 filing, priced at $299 per LLC. If you own multiple LLCs, contact us. We can coordinate filings across all your entities and discuss the most efficient approach.

Yes. If your LLC had transactions with more than one related party (for example, you personally and a company you control), we file a separate Form 5472 for each one. All forms are included in one filing package. The $299 covers the complete filing regardless of how many related-party forms are included.

We are expanding our service offerings to include:

• LLC formation
• LLC dissolution
• ITIN acquisition
• Certificate of good standing
• Multi-member LLC filing
• FBAR filing
• BE-12 filing

These services are coming soon. For any of these needs in the meantime, we recommend consulting a licensed professional or contacting us for a referral.

You will need three categories of information:

• LLC details: EIN, state of formation, date of formation, registered address.
• Owner details: Full legal name, country of residence, address, and either a US TIN (EIN or ITIN) or passport number.
• Transaction summary: A description of all reportable transactions between you and the LLC during the tax year (capital contributions, distributions, loans, formation costs paid on behalf of the LLC).

We send you a short intake form after purchase that walks you through exactly what's needed. Most clients complete it in about 10 minutes.

→ See also: What counts as a "reportable transaction" on Form 5472?

Contact us at info@usllcfilings.com. We handle amendments on a case-by-case basis, depending on the nature of the change and how we submitted the original filing. If the amendment is needed due to a preparation error on our part, we handle it at no additional cost.

Yes. Email us at info@usllcfilings.com with your questions. We respond within one business day. We are happy to help you understand which services you need before you commit.

Yes. We transmit all data over encrypted connections. We do not share client data with third parties. We use your information only to prepare and file your documents. See our Privacy Policy for full details.

US LLC Filings is a specialist filing preparation service operated by Chromaray LLC. We focus exclusively on compliance filings for foreign-owned single-member US LLCs. This is all we do, and we do it well. We are not a CPA firm or law firm, and our services do not constitute tax, legal, or financial advice.

Full refund if we have not started work on your filing. Partial refund for work in progress, based on the stage completed. We will always communicate clearly if any issue arises during preparation. See our Terms of Service for the full refund policy.

US LLC Filings is a compliance filing preparation service. We are not:

• A CPA firm or accounting practice.
• A law firm or legal advisory service.
• A tax planning or tax advisory service.

We prepare and file IRS information returns and related compliance documents. For tax planning, legal advice, or questions about your personal tax obligations, we recommend consulting a licensed CPA or tax attorney.

LLC dissolution is a state-level process that formally closes your business entity. It typically involves filing Articles of Dissolution with the state, settling any outstanding obligations, and closing business accounts. You must also file a final Form 5472 for the year of dissolution.

We are adding LLC dissolution to our service offerings. It is not yet listed on the website, but you can contact us at info@usllcfilings.com for a personal quote.

→ See also: What happens to my bank account if my LLC is dissolved or loses good standing?

A certificate of good standing (also called a certificate of existence or certificate of status) is an official document from the state. It confirms that your LLC is properly registered, has filed all required documents, and is allowed to do business. You may need one when:

• Opening or maintaining a US bank account.
• Registering your LLC in another state (foreign qualification).
• Applying for business licences or contracts.
• Satisfying a business partner's or client's due diligence requirements.

You order certificates from the Secretary of State (or equivalent office) in your state of formation. We are adding certificate of good standing requests to our service offerings.