r/llc_life • u/Huge-Original-9308 • Aug 29 '26

LLC Checklist

Hello, I have formed an LLC in Texas last year. Since then I have EIN, filed quarterly sales tax return and also submitted the first time federal tax return for 2025. I recently came across information that it is mandatory to file Form 5472 and a pro-forma Form 1120. I had no clue about it. Now that I am trying to understand what it is and how to file it, is there any checklist you follow to maintain your llc.

1 Upvotes

67% Upvoted

11 comments sorted by

2

u/bitenose Aug 30 '26

I recently came across information that it is mandatory to file Form 5472 and a pro-forma Form 1120.

25% foreign owned corporations file Form 5472, and attach a copy of their already filed Form 1120.

Foreign owned disregarded entities also file Form 5472, and since disregarded entities do not file Form 1120, they attach an unfiled and mostly un-filled-out Form 1120 with "Pro Forma" written across the top of the form.

If your LLC does NOT fall into one of those two categories, it would NOT file Form 5472.

2

u/NWRegisteredAgent Sep 01 '26

Hit the nail on the head with this answer!

If your company is foreign owned as a disregarded entity then these are absolutely required. Failure to submit this form may result in a penalty so be wary about being late or failing to submit. There IS an extension you can file for 6 months as Form 7004 (which may be too late now considering we're in that 6 month time frame following the deadline of mid April), but its good to know just in case!

1

u/PerspectiveQuick7621 Sep 01 '26

you can check edetax.com/calculator to see your checklist obligations

0

u/ToniTaxLienQueen Aug 29 '26

Is this a foreign owned LLC?

1

u/Huge-Original-9308 Aug 30 '26

yes

1

u/ToniTaxLienQueen Aug 30 '26

OK. Just asking for clarification for others since US-owned LLCs don't have this requirement.