Annual Compliance Checklist for Foreign-Owned US LLCs

Owning a US LLC as a foreign person comes with a set of annual compliance obligations at both the federal and state level. Missing any of these can result in penalties, loss of good standing, or even administrative dissolution of your entity. This checklist covers everything you need to file, and when.

Federal Filing Requirements

1. Form 5472 + Pro-Forma Form 1120

• What: Information return reporting transactions between your LLC and its foreign owner or related parties
• Who: Every foreign-owned single-member LLC with reportable transactions (nearly all of them)
• Deadline: April 15 (calendar year) — extendable to October 15 via Form 7004
• Penalty: $25,000 per form for failure to file
• How: Paper-filed by mail to the IRS. See our Form 5472 filing guide for step-by-step instructions.

2. Form 1120 (Corporate Tax Return)

• What: Even though a single-member LLC is a disregarded entity, the pro-forma 1120 must be filed as the vehicle for attaching Form 5472
• Deadline: Same as Form 5472 — April 15
• Note: If your LLC has elected to be taxed as a corporation (Form 8832), you must file a full Form 1120 with income and deductions reported

3. FBAR / FinCEN 114 (If Applicable)

• What: Report of Foreign Bank and Financial Accounts — required if the LLC has signature authority over foreign financial accounts exceeding $10,000 in aggregate at any point during the year
• Deadline: April 15 with automatic extension to October 15
• Filed:Electronically via FinCEN's BSA E-Filing System

4. Beneficial Ownership Information (BOI) Report

• What: FinCEN beneficial ownership reporting under the Corporate Transparency Act
• Deadline: Check current FinCEN guidance, as enforcement timelines have been subject to change
• Who: Most LLCs unless they qualify for a specific exemption

State Filing Requirements

5. State Annual Report

• What: Most states require an annual or biennial report to maintain your LLC in good standing
• Deadline: Varies by state — Wyoming is due on the first day of the anniversary month; Delaware is June 1
• Penalty: Late fees, loss of good standing, and potential administrative dissolution
• See our Wyoming annual report guide for state-specific details

6. Registered Agent Maintenance

• What: Your LLC must maintain a registered agent in its state of formation at all times
• Action: Renew your registered agent service annually and ensure their address is current with the state

EIN Maintenance

7. Keep Your EIN Active

• If the IRS sends any correspondence to your LLC's address (or your registered agent), respond promptly
• Update your LLC's responsible party information with the IRS using Form 8822-B within 60 days of any change
• Ensure your EIN is associated with the correct entity type and fiscal year

Filing Timeline at a Glance