US Form 5472 and state reports

Foreign-owned US disregarded entities with reportable transactions can need Form 5472 and a pro forma 1120. IRS describes an initial USD 25,000 penalty for failure to file properly. State annual reports and other tax duties are separate; have an EA/CPA review the facts.

Prepare a question for the qualified reviewer

Record residence, entity, actual activity, stock locations and target customers. Never replace an unknown fact with an assumption on an application.