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Form 5472: The $25,000 Penalty

26-second video walkthrough

Form 5472: The $25,000 Penalty · 26 seconds

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In this video

Form 5472 for a foreign-owned U.S. single-member LLC can't be e-filed: fax or mail only. Missing it can cost $25,000 per form (IRS Instructions for Form 5472).

  1. 0:00Missing Form 5472 can cost $25,000.
  2. 0:05It can't be e-filed, so fax it instead.
  3. 0:08Attach Form 5472 and the pro forma 1120.
  4. 0:13Add a cover page for your filing.
  5. 0:16Note the form number on the cover.
  6. 0:19Review it, and tap Send fax.
  7. 0:22Fax it from your phone at singlefax.com.

Transcript

0:00Missing Form 5472 can cost $25,000.

0:05It can't be e-filed, so fax it instead.

0:08Attach Form 5472 and the pro forma 1120.

0:13Add a cover page for your filing.

0:16Note the form number on the cover.

0:19Review it, and tap Send fax.

0:22Fax it from your phone at singlefax.com.

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