If you are a foreign owner of a U.S. single-member LLC, you may be required to file a pro forma Form 1120 together with IRS Form 5472, even if your LLC had no income and owed no U.S. tax.
Many foreign founders are confused by this requirement because Form 1120 is normally a corporate income tax return. In this context, however, it is used in a very limited way.
This article explains what a pro forma Form 1120 is, when it is required, and how it is filed with Form 5472.
What Is Form 1120?
Form 1120 is the U.S. corporate income tax return used by C corporations to report income, deductions, and taxes owed to the :contentReference[oaicite:1]{index=1}.
Under normal circumstances, single-member LLCs that are treated as disregarded entities do not file Form 1120.
What Does “Pro Forma” Mean?
“Pro forma” means the form is filed in a limited, informational manner, not as a full corporate tax return.
For foreign-owned single-member LLCs, the pro forma Form 1120 acts as a cover page that allows Form 5472 to be properly submitted to the IRS.
Why Is a Pro Forma Form 1120 Required?
U.S. tax rules require Form 5472 to be attached to a Form 1120 filing. Because a foreign-owned single-member LLC does not normally file a corporate return, a pro forma Form 1120 is used instead.
This requirement applies even when:
- The LLC had no income
- No U.S. tax is owed
- The LLC was inactive
How Is a Pro Forma Form 1120 Completed?
Only limited information is completed on the pro forma Form 1120. Typically, this includes:
- LLC name and address
- EIN (if applicable)
- Foreign owner information
- A statement indicating the return is filed for Form 5472 purposes
Income, deductions, and tax calculations are generally left blank or marked as not applicable.
Is Form 1120 Filed Separately?
No.
The pro forma Form 1120 and Form 5472 are filed together as a single submission. Filing one without the other is considered incomplete.
What Happens If the Pro Forma Form 1120 Is Missing?
If Form 5472 is filed without the required pro forma Form 1120, the filing may be treated as invalid.
This can expose the foreign owner to significant penalties, even if the information on Form 5472 itself is accurate.
Key Takeaways
- A pro forma Form 1120 is required when filing Form 5472
- It acts as a cover page, not a full tax return
- No income or tax calculation is required
- Both forms must be filed together
- Missing the pro forma Form 1120 can trigger penalties
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Last updated: January 2025