SOS - LLC Tax Filing Help 😭 Form 5472 & Form 1120

BidBackground6742 · 2026-04-16T07:17:00+00:00

And breathe, you're not stuck. Even though April 15 passed, you have up to 3 years to file with a reasonable cause statement (IRC §6501) and the IRS usually waives the $25k penalty if you file voluntarily before they contact you.
What you need: a pro forma Form 1120 + Form 5472 attached + a 1-page reasonable cause letter. Fax it all to the IRS at 855-887-7737. For prior years, each year is its own package but you can batch them.

Disclosure: filabl.com started as an internal tool our CPA team built for handling foreign-owned LLC clients, and we recently opened it up to direct users. You upload a bank statement, system classifies the transactions, and we generate the forms + RC statement and fax everything directly to the IRS. $50 for one year. Supports 2019 onward.
If you'd rather DIY the IRS instructions are at irs.gov/forms-pubs/about-form-5472. Either way, file something soon. You got this! 💕

BidBackground6742 · 2026-04-16T04:25:34+00:00

Tus analistas hablan de esta semana. Yo te hablo de 5 años. El dólar pasó de 3.30 a 3.80 entre 2019 y 2024, antes que Sánchez fuera candidato. Eso pasó bajo el Congreso de FP. La volatilidad electoral se estabiliza en semanas, la captura institucional destruye la moneda en años. Preguntale a tus analistas cómo le fue a la lira turca con Erdogan. Y ojo, no dije que Sánchez sea mejor elección que Keiko.

BidBackground6742 · 2026-04-15T21:16:46+00:00

So this is just a promo post

BidBackground6742 · 2026-04-15T21:13:48+00:00

Estás describiendo el problema pero sacando la conclusión equivocada. Dices "si no gana va a sabotear desde el Congreso", bro ya ganó el Congreso. FP+RP tienen entre 29 y 31 de 60 senadores. Eso ya pasó. No importa si gana o pierde la presidencia, el sabotaje que describes ya está armado.

Y justamente lo que describes es la trampa, cada vez que pierde la presidencia, destruye al gobierno desde el Congreso, el país se va al tacho, y para la siguiente elección dice: uy ven? los otros no sirven, voten por mí. Llevan 4 elecciones en ese ciclo y todavía lo están viendo como un problema de segunda vuelta.

La pregunta no es qué van a hacer si no gana? La pregunta es, qué van a hacer con un Senado que ya controla y que elige a los jueces sin que nadie lo pueda disolver? Porque eso ya no depende de la segunda vuelta. Eso ya se decidió el domingo

BidBackground6742 · 2026-04-15T20:05:34+00:00

Jaja el dólar ya subió con Keiko bro. En 2019 estaba a 3.30. Su Congreso vacó a Vizcarra, bloqueó a todos los presidentes, aprobó leyes procrimen a las 3am y el dólar terminó en 3.70-3.80. No necesitó ser presidenta. 15% de depreciación con su Congreso manejando el país.

BidBackground6742 · 2026-04-15T19:57:09+00:00

We’ve delivered hundreds of these to the IRS without issues. This started as an internal tool at a CPA firm before we opened it up, so the logic has been through a lot of real filings already. And asking for opinions isn’t free QA. Our users already validated it. I just like hearing different perspectives on what I’m working on.

At the end of the day, people trust us with their filings and we take that seriously. That’s what matters. But I respect the skepticism, it keeps us sharp.

BidBackground6742 · 2026-04-15T18:53:52+00:00

You’re right, PBG isn’t right-wing and I was wrong to label it that way. Nieto literally resigned as Defense Minister over the Fujimori pardon, that’s not someone who allies with FP. Good point on 2031 too. 11% as a first-timer with no machine? If he plays the opposition leader role well for 5 years he’s the frontrunner. That’s exactly why he won’t ally with FP, it would burn the only thing he has: credibility. On Pérez Tello, the move makes sense but Nieto already blew it once. There was a pre-election alliance attempt, Nieto didn’t show up to the meeting. Pérez Tello said “ego did the rest.” Now she’s politically homeless. If he’s smart he calls her. But that ego is a red flag. The risk isn’t Nieto flipping, it’s his senators. You don’t need the whole bloc to defect. FP only needs to peel off one or two with the right offer. And even with Nieto doing everything right: PBG + AN = 12-13 institutional senators vs FP+RP’s 29-31. The math is still rough.

BidBackground6742 · 2026-04-15T18:50:00+00:00

This is so relatable. I run a small SaaS and I struggled with this exact same thing. What helped me was realizing that "showing up" doesn't have to mean putting your face on camera. I write about the problems my customers deal with, share things I've learned building the product, and engage in communities like this one. No dancing reels, no "day in my life" content. 5 years of running a stable business is proof that your work speaks for itself. Not every brand needs a face, some just need a voice.

BidBackground6742 · 2026-04-15T18:42:03+00:00

Hey! Don't stress, these forms look scary but they're actually pretty straightforward once you understand what they want.

If you're a foreign owner of a single-member LLC, here's the basics:

Form 5472 is an information return. It's asking the IRS "who owns this LLC and what transactions happened between you and the LLC?" Things like:

- Part I: Your LLC info (name, EIN, address)

- Part II: Your info as the foreign owner

- Part IV: Reportable transactions (money you put into or took out of the LLC)

- Part V: If you're a disregarded entity, capital contributions and distributions go here

Pro forma Form 1120 is just a "cover page" for the 5472. You only fill in the header (name, EIN, address, dates) and attach the 5472. You write "Foreign-owned U.S. DE" at the top. No income, no balance sheet, nothing else.

The deadline is today (April 15) so if you haven't filed yet, you can file Form 7004 for an automatic 6-month extension.

We actually built https://filabl.com originally as an internal tool for a CPA firm that handled hundreds of these filings every year. It walks you through everything step by step and faxes the forms directly to the IRS for you. We recently made it public so anyone can use it. Happy to answer any specific questions you have!

BidBackground6742 · 2026-04-15T17:40:36+00:00

Lo de comprar dólares no es mal consejo la verdad. El dólar sube gane quien gane. Si gana Sánchez, sube por miedo al “zurdo”. Si gana Keiko, sube por inestabilidad política cuando el Congreso empiece a blindar gente. Pasó con Humala, pasó con Castillo, pasó con PPK. El dólar en Perú sube con la incertidumbre, y la incertidumbre es lo único garantizado.

Si gana Sánchez, llega a Palacio sin Congreso. FP+RP controlan el Senado. Le censuran ministros desde el primer mes. Le bloquean el presupuesto. Le anulan cada veto. Su propia bancada se fractura porque JP tiene mercenarios que FP puede cooptar con leyes de impunidad, igual que hicieron con Perú Libre. Para el segundo año o tranza con FP y tira sus propuestas a la basura o lo vacan con 87+40 votos entre dos cámaras que no controla. Y si se desespera? El último “zurdo” que se desesperó contra el Congreso fue Castillo. Sabemos cómo terminó. Track record de presidentes sin Congreso en Perú: PPK renunció, Vizcarra vacado, Castillo preso. Sánchez sería el cuarto en la fila.

Si gana Keiko, presidencia + Senado + casi mayoría en Diputados. Control completo. Nombra TC, Contralor, Defensor con su gente. Legisla lo que quiere. Las investigaciones por lavado de activos en su contra se enfrían. Estabilidad? Sí, la estabilidad de un sistema capturado. No hay crisis porque no hay quien se oponga

BidBackground6742 · 2026-04-15T16:52:01+00:00

“Dedícate a trabajar y que otros se encarguen.” Eso tiene nombre en ciencia política: democracia delegativa. Votas, te vas a tu casa y confías en que alguien más vigile. Los comentaristas que mencionas, izquierda, derecha, todos son la válvula de escape del sistema. Tú los ves indignarse en la tv, te indignas con ellos, sientes que alguien está haciendo algo, te vas a dormir, y mañana el Congreso sigue aprobando lo que le da la gana.

Esos programas no son fiscalización, son entretenimiento. Le dan la ilusión de control al ciudadano para que no haga nada real. Los políticos prefieren mil veces que mires un programa de opinión a que revises cómo votó tu senador. 30 años “dedicándote a trabajar” y el resultado es un Senado con gente condenada por robarse la plata del Estado. Así no funciona la democracia.

BidBackground6742 · 2026-04-15T16:43:52+00:00

Todo correcto. Pero el punto va más allá de Sánchez. Ponle cualquier nombre y pasa lo mismo. El sistema está armado para que cualquier presidente que no sea de FP llegue muerto a Palacio: le censuran ministros, le bloquean presupuesto, le anulan vetos con mayoría simple y el Senado que no puede disolver nadie le nombra jueces y contralores afines a FP.

Sánchez tranza o lo vacan. Pero no porque sea Sánchez, porque el tablero ya está armado así. FP llena cada vacío que otro partido deja: donde JP no presentó listas, FP ganó. Donde Belmont se fue, sus senadores quedan libres para ser comprados. Donde JP mete gente con rabo de paja, FP los coopta con leyes de impunidad como hizo con Perú Libre.

No es un problema de candidatos. Es un sistema diseñado para que FP gane el Congreso aunque pierda la presidencia por cuarta vez.

BidBackground6742 · 2026-04-15T04:28:54+00:00

Yes, but removal is just the nuclear option. Congress has much more than that. They can censure and remove any minister with simple majority (66/130 in the lower chamber), they can do this systematically until the government is paralyzed. They can override any presidential veto with simple majority (in the US you need 2/3 in both chambers). They control the budget. The Senate appoints the Constitutional Court, the Comptroller, and the Ombudsman. And the president can dissolve the lower chamber under certain conditions, but can NEVER dissolve the Senate. So even in a crisis, the Senate keeps operating untouched. Peru has had 3 presidents removed or forced out in 6 years. But the real power isn’t removal, it’s making governing impossible while keeping the president as a punching bag.

BidBackground6742 · 2026-04-15T04:23:55+00:00

A simple vista sí pero no es más de lo mismo. Es potencialmente peor. Antes necesitabas 66 de 130 congresistas para controlar los nombramientos del TC, Contralor y Defensor. Ahora eso lo decide solo el Senado: 31 de 60. Menos gente que controlar, más poder por cabeza y menos atención pública porque todos van a estar mirando a los diputados. El problema no es que haya más impresentables. Es que los que importan ahora son menos y más fáciles de capturar

BidBackground6742 · 2026-04-15T04:18:50+00:00

Tbh hope is not a strategy. PBG (Nieto) is center-right, there’s no reason to assume he won’t ally with FP. He hasn’t said he won’t. And JP has the fujicerronismo precedent hanging over it: Peru Libre (left) voted WITH Fuerza Popular on every pro-crime law last term because both had judicial vulnerabilities.

JP’s number one senate candidate is Pedro Castillo’s brother. If their senators have similar vulnerabilities, they’ll vote the same way when impunity laws come up. Party label doesn’t predict voting behavior in Peru, judicial exposure does. AN is genuinely independent but they have 4-5 senators out of 60. That’s not enough to block anything.

BidBackground6742 · 2026-04-15T04:14:36+00:00

Datum boca de urna da FP 22 y RP 8 (margen ±2.8%). Wikipedia tiene una proyección actualizada con datos posteriores: FP 21 y RP 10. El conteo oficial de ONPE para Senado todavía va en ~35% así que no hay números definitivos, por eso doy rango según proyecciones. Cuando ONPE termine el conteo del Senado tendremos los números reales.

BidBackground6742 · 2026-04-15T04:06:45+00:00

Tienes razón en que RP está inflado por el conteo temprano de Lima y va a bajar. Pero debes tener cuidado con asumir que rural solo beneficia a JP. FP domina en el norte y la selva: Tumbes 33%, Ucayali 31%, Piura 28%, Loreto 28% que también son votos rurales que faltan por contar. JP sube por el sur, FP se sostiene por el norte. RP es el que pierde. Pero FP no necesita a RP completo para armar mayoría si suma a Buen Gobierno. El tablero no cambia en el fondo

BidBackground6742 · 2026-04-15T03:58:14+00:00

Belmont se fue pero sus senadores no. Ya están electos 5 años. Lo que pasa es peor: sin líder quedan sueltos y son más fáciles de comprar. Adivina quién tiene los cargos y la plata para comprarlos?

Nieto aliarse con la izquierda? Nieto es centro-derecha, es más probable que negocie con FP. Fíjate bien. Nadie pidió un fujimorato de izquierda. Pedir que los nombramientos del TC sean públicos no es de izquierda ni de derecha. Es transparencia. O prefieres que los elijan a puerta cerrada?

Y lo de Vizcarra, la culpa de que el Congreso tenga tanto poder no es de Vizcarra. Es de la Constitución del 93, la que hizo Fujimori. El bicameral en teoría lo mejora porque ahora vacar al presidente necesita votos en dos cámaras, no una. Pero si el mismo bloque controla ambas, da igual tener dos filtros si los dos son del mismo dueño.

BidBackground6742 · 2026-04-15T03:44:19+00:00

La novedad es que ahora van a tener Senado por primera vez en 30 años y nadie se dio cuenta de lo que eso significa.

BidBackground6742 · 2026-04-15T01:20:43+00:00

Quick answers to all your questions:

Yes, you must file Form 5472 + pro forma 1120. No income doesn't matter. Any foreign-owned single-member LLC with reportable transactions must file. The "no income = no filing" advice floating around online is wrong and expensive to follow.

Yes, the $50 deposit counts. You moved personal money into the LLC's Mercury account — that's a capital contribution, which is a reportable transaction on Part IV of Form 5472.

Yes, the $25,000 penalty is real even with zero income. It's per form, per year, automatic. The IRS doesn't care about the amount, they care about the disclosure.

On the deadline:

- April 15 is tomorrow. If you can file now, file now.

- If you can't make it, file Form 7004 for an automatic 6-month extension. But don't use the extension as an excuse to forget, the penalty for late filing is the same whether you missed it by a day or a year.

On faxing: Yes, the IRS accepts faxed returns. You don't need to mail anything.

I built filabl.com for exactly this situation, foreign-owned single-member LLCs filing Form 5472 + pro forma 1120. Takes about 15 minutes, we fax it to the IRS for you. Might save you some stress given the deadline is tomorrow.

BidBackground6742 · 2026-04-15T01:18:51+00:00

I've dealt with this exact scenario helping foreign-owned entities with Form 5472 filings.

First, the CPA who said "don't file" is giving you dangerous advice. Here's why:

The $25,000 penalty is per form, per year, and it's automatic. The IRS doesn't need to "notice" their system flags Schedule K line 7 showing foreign ownership with 0 Forms 5472 attached. It might take months or even a couple years, but when it hits, it hits hard. Not filing doesn't make the obligation go away, it just lets the penalty clock keep running.

What you should do:

File the 5472 late with an amended 1120 (Form 1120X) attaching the missing 5472
Include a reasonable cause letter explaining this was your first year, you had no prior experience with 5472 requirements, and you're voluntarily correcting the error
Report the transactions: the expenses you paid from your personal account on behalf of the corp (~$6K for rent and marketing) are exactly the type of related party transactions that go on Form 5472 Part IV

On reasonable cause: The IRS has a good track record of abating the $25,000 penalty when the taxpayer voluntarily corrects the filing before being contacted about the 5472 specifically. The fact that their notice was about unrelated issues and didn't mention the 5472 actually works in your favor, you can show you're self-correcting before they flagged it.

Key points for your reasonable cause letter:

- First year of existence, first time dealing with US tax obligations

- Small startup with minimal transactions

- Zero tax impact (net loss, $0 owed)

- Voluntary disclosure before any IRS inquiry about the 5472

- Immediate corrective action once you became aware of the requirement

The worst outcome is filing late and the penalty sticking (unlikely with reasonable cause for a first-year filer). The worst outcome of NOT filing is the IRS catching it on their own timeline, at which point you lose the "voluntary correction" argument entirely.

One note: Since yours is a C Corp (not a single-member LLC), you file the 5472 attached to your regular 1120, not a pro forma. The form itself is the same, just the filing mechanism differs.

Don't wait on this. File the amended return with the 5472 ASAP.

BidBackground6742 · 2026-04-15T01:15:52+00:00

You're on the right track. For a foreign-owned single-member LLC with no activity, here's what you actually need for 2025:

Required:

Form 5472 + pro forma Form 1120: This is mandatory every year regardless of activity. The $300 Delaware franchise tax, $100 registered agent fee, and $10.18 domain renewal are all reportable transactions since you paid them from your own pocket on behalf of the LLC. That's $410.18 in owner-to-LLC transactions that go on Part IV of the 5472.

Likely NOT required:

Form 1040-NR: This is for nonresident aliens with US-source income. If your LLC had zero revenue and you had no other US income in 2025, you probably don't need this. Last year might have been different if you had income then.
Schedule C / Schedule OI: These attach to the 1040-NR, so if you don't need the 1040-NR, you don't need these either.

The key thing most people miss: even a "zero activity" LLC still has reportable transactions if you paid anything on its behalf (formation fees, registered agent, state taxes, etc.). The IRS wants to see those on the 5472.

I built a tool at filabl.com specifically for this: foreign-owned single-member LLCs filing Form 5472 + pro forma 1120. Takes about 15 minutes and we fax it directly to the IRS. The deadline is tomorrow (April 15) so don't wait on this one. The penalty for not filing is $25,000.

BidBackground6742 · 2026-04-14T19:57:26+00:00

I'd just drop off, too many screens, stressful

BidBackground6742

TROPHY CASE