If you are a Bangladeshi national who owns a US LLC, you are required to file IRS Form 5472 every year. Failure to file results in an automatic $25,000 penalty — even if your LLC had no income. An ITIN identifies you as the foreign owner on this form and is mandatory for compliance.
What Is Form 5472?
Form 5472 (Information Return of a 25% Foreign-Owned US Corporation or a Foreign Corporation Engaged in a US Trade or Business) is an IRS informational return that foreign-owned US LLCs must file annually. It reports transactions between the LLC and its foreign owner (you).
In 2017, the IRS expanded the Form 5472 requirement to include single-member LLCs owned by foreign persons. This means virtually every US LLC owned by a Bangladeshi national must file Form 5472 annually.
When Is Form 5472 Due?
Form 5472 is attached to a pro forma Form 1120 and filed by the LLC's tax deadline:
- Standard deadline: April 15 (or the 15th day of the 4th month after your LLC's fiscal year ends)
- Extension: You can file for a 6-month extension, pushing the deadline to October 15
The penalty for failure to file is $25,000 per form per year — automatic, regardless of whether the LLC earned any income.
What Information Goes on Form 5472?
Form 5472 requires:
- Your US LLC's name, address, and EIN
- Your name, address, and Tax ID as the foreign owner — this is where your ITIN goes
- Your country of incorporation or residence (Bangladesh)
- Description of transactions between you and the LLC (capital contributions, distributions, loans, etc.)
Without an ITIN, you cannot correctly complete the foreign owner section, making your Form 5472 incomplete.
ITIN Plus for Form 5472 Compliance
ITIN Plus helps Bangladeshi LLC owners get their ITIN ($99) so they can file Form 5472 correctly. We also recommend working with a US CPA familiar with international LLC taxation for the actual filing. Contact apply@itinplus.com for ITIN application.
Frequently Asked Questions
Who must file Form 5472?
Any US LLC owned 25% or more by a foreign person (including Bangladeshi nationals) must file Form 5472 annually. This includes single-member LLCs treated as disregarded entities.
What is the penalty for not filing Form 5472?
The IRS automatically assesses a $25,000 penalty for each failure to file Form 5472, per year. This penalty applies even if your LLC had zero income or transactions during the year.
Do I need an ITIN to file Form 5472?
Yes. Form 5472 requires your Tax Identification Number as the foreign owner. An ITIN is the correct ID for Bangladeshi nationals who own US LLCs.
How is Form 5472 filed?
Form 5472 is attached to a pro forma Form 1120 (US Corporation Income Tax Return) and mailed or e-filed by your LLC's tax deadline. It is typically prepared by a US CPA or tax professional.
What transactions are reported on Form 5472?
Form 5472 reports any transactions between you and your LLC: capital you contributed, money you withdrew (distributions), loans between you and the LLC, rent, royalties, and any other financial dealings between the foreign owner and the US entity.