5472
Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business (Under Sections 6038A and 6038C of the Internal Revenue Code)
Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business, is filed under sections 6038A and 6038C of the Internal Revenue Code. The instructions say it is used to provide information when reportable transactions occur during the tax year of a reporting corporation with a foreign or domestic related party.
The instructions define a reporting corporation as either a 25% foreign-owned U.S. corporation, including a foreign-owned U.S. disregarded entity (DE), or a foreign corporation engaged in a trade or business within the United States. A separate Form 5472 is filed for each related party the corporation had a reportable transaction with.
The form says to enter all information in English and money items in U.S. dollars. It is attached to the reporting corporation's income tax return, and a foreign-owned U.S. DE attaches it to a pro forma Form 1120. This page covers the December 2023 revision. You can fill out the PDF free in your browser on this page and download it without an account.
Name, EIN, address, total assets, business activity and code, gross payments reported, number of Forms 5472 filed, country and date of incorporation, and checkboxes for 50% foreign ownership and foreign-owned U.S. DE status.
Up to two direct and two ultimate indirect 25% foreign shareholders, each with identifying numbers, a reference ID number, an FTIN and countries, plus a box for a surrogate foreign corporation.
Whether the related party is a foreign or U.S. person, then its name, address, identifying numbers, business activity, relationship and countries.
Amounts received on lines 9 to 22 and amounts paid on lines 23 to 36, such as sales, rents, royalties, services, commissions, loans, interest and insurance premiums.
Part V covers other transactions of a foreign-owned U.S. DE, such as formation, contributions and distributions. Part VI covers nonmonetary and less-than-full consideration transactions. Both are described on an attached sheet.
Part VII asks about imports, cost sharing, section 267A, FDII, safe-haven loan rates and covered debt. Part VIII covers each cost sharing arrangement. Part IX covers base erosion payments under section 59A.
Enter the tax year, then Part I. The instructions say domestic corporations take total assets on line 1c from Form 1120, page 1, item D, and foreign corporations from Form 1120-F, Schedule L, line 17, column (d).
Line 1f is the total value of foreign related party transactions on this form and line 1h the total on all Forms 5472. Line 1g counts the forms filed, one per related party, and line 1k counts the Parts VIII attached.
The instructions say only 25% foreign-owned U.S. corporations, including foreign-owned U.S. DEs, complete Part II. A reference ID number is needed only when no U.S. identifying number is entered, and is alphanumeric with up to 50 characters.
The instructions say all filers complete Part III, even if the related party is already listed in Part II as a 25% foreign shareholder.
Enter amounts in U.S. dollars and attach a schedule of the exchange rates used. The instructions allow reasonable estimates of at least 75% but not more than 125% of the actual amount, and amounts not over a total of $50,000 may be reported as "$50,000 or less."
Describe Part V and Part VI transactions on attached sheets, answer the Part VII questions, complete a separate Part VIII for each cost sharing arrangement, and enter the section 59A amounts in Part IX.
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The instructions say to file Form 5472 as an attachment to the reporting corporation's income tax return by the due date, including extensions, of that return.
They write "Foreign-owned U.S. DE" across the top of a pro forma Form 1120 and file by fax (300 DPI or higher) to 855-887-7737, or by mail to Internal Revenue Service, 1973 Rulon White Blvd, M/S 6112 Attn: PIN Unit, Ogden, UT 84201. The instructions say they cannot file Form 5472 electronically.
The instructions say a foreign-owned U.S. DE can request more time with Form 7004, filed by the regular due date, entering the code for Form 1120 and faxing or mailing it to the same number or address.
The instructions list a $25,000 penalty for failing to file Form 5472 when due and in the manner prescribed, or failing to keep required records. A substantially incomplete form counts as a failure to file. An additional $25,000 can apply if the failure continues more than 90 days after IRS notification.
The instructions say a reporting corporation keeps the permanent books of account or records required by section 6001, including records relevant to transactions with related parties.
A reporting corporation using an accrual method uses accrued payments and accrued receipts to figure the amount on each line.
5471
437 fields, 6 pages
1120
481 fields, 6 pages
1120-F
527 fields, 9 pages
7004
26 fields, 1 page
8832
70 fields, 8 pages
8833
41 fields, 5 pages
The About Form 5472 page says corporations file it. The instructions say a reporting corporation generally files Form 5472 if it had a reportable transaction with a foreign or domestic related party.
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The instructions say it is either a 25% foreign-owned U.S. corporation, including a foreign-owned U.S. DE, or a foreign corporation engaged in a trade or business within the United States.
The instructions say a foreign-owned U.S. DE, a domestic DE wholly owned by a foreign person, files a pro forma Form 1120 with Form 5472 attached by the due date, including extensions, of that Form 1120.
No. The instructions say to file a separate Form 5472 for each foreign or U.S. person who is a related party with which the reporting corporation had a reportable transaction.
A corporation that e-files its income tax return can see that return's instructions for e-filing. The instructions say a foreign-owned U.S. DE cannot file Form 5472 electronically and uses the fax number or mailing address given.
The instructions list a $25,000 penalty on a reporting corporation that fails to file when due and in the manner prescribed. If the failure continues more than 90 days after IRS notification, an additional $25,000 applies for each related party for each 30-day period, or part of one, that it continues.
The form says to enter all information in English and money items in U.S. dollars.