u/Mundane-Ad1652

Just random observation. I honestly think people can benefit greatly.

It's that time of the year again. You need to file Form 5472 before or on April 15th to avoid a $25,000 penalty. The good news is, you are able to extend the Form 5472 filing date until October 15th by filing Form 7004 (The final tax year has different tax deadlines). Here are a few steps to extend your Form 5472 deadline for this tax season.

#1- Complete Form 7004 correctly- Ensure you write "Foreign-owned U.S. DE" across the top of Form 7004.

Part I-Enter entity's name and EIN (basically a 9-digit number assigned to your US LLC).

Line 1:Enter the code for Form 1120.

#2- Part II (Not much to do here, to be honest)- Just put $0 tax due since Form 5472 does not have tax liability. If it's an initial/final return, check the 5a boxes if applicable.

#3-Time to either fax/mail this form. Fax is definitely recommended since it's easier to use and less costly. There is a free option for you to e-fax to the IRS such as dropbox, etc.

Make sure you do not use the standard Form 7004 address.

Fax number for Form 5472 extension is- 855-887-7737 (300 DPI or higher).

Mail: 1973 Rulon White Blvd. M/S 6112 Attn: PIN Unit Ogden, UT 84201.

Ensure you get a certified mail receipt or fax confirmation on or before 4/15 to ensure you get the penalty protection in case of the IRS audit/notice(s).

That's all, folks. Hope this helped y'all.

 

It's that time of the year again. You need to file Form 5472 before or on April 15th to avoid a $25,000 penalty. The good news is, you are able to extend the Form 5472 filing date until October 15th by filing Form 7004 (The final tax year has different tax deadlines). Here are a few steps to extend your Form 5472 deadline for this tax season.

#1- Complete Form 7004 correctly- Ensure you write "Foreign-owned U.S. DE" across the top of Form 7004.

Part I-Enter entity's name and EIN (basically a 9-digit number assigned to your US LLC).

Line 1:Enter the code for Form 1120.

#2- Part II (Not much to do here, to be honest)- Just put $0 tax due since Form 5472 does not have tax liability. If it's an initial/final return, check the 5a boxes if applicable.

#3-Time to either fax/mail this form. Fax is definitely recommended since it's easier to use and less costly. Check the following for faxing to the IRS for free: https://www.reddit.com/r/tax/comments/1rsfrxg/how_to_fax_form_5472_to_the_irs_for_free/

Make sure you do not use the standard Form 7004 address.

Fax number for Form 5472 extension is- 855-887-7737 (300 DPI or higher).

Mail: 1973 Rulon White Blvd. M/S 6112 Attn: PIN Unit Ogden, UT 84201.

Ensure you get a certified mail receipt or fax confirmation on or before 4/15 to ensure you get the penalty protection in case of the IRS audit/notice(s).

That's all, folks. Hope this helped y'all.