What Is the Due Date for Form 5472?

Form 5472, the “Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business,” is an informational filing required by the Internal Revenue Service (IRS). Its purpose is to provide transparency into transactions between certain U.S.-based entities and their foreign owners or affiliates. The form helps the IRS monitor cross-border activities to ensure compliance with U.S. tax laws.

Who Must File Form 5472

The obligation to file Form 5472 falls upon entities defined as “reporting corporations.” This term encompasses two categories of businesses. The first is a U.S. corporation that is at least 25% foreign-owned. This ownership threshold is met if a single foreign person or entity directly or indirectly owns at least 25% of the total voting power or the total value of the corporation’s stock at any point during the tax year.

The second category includes foreign corporations engaged in a trade or business within the United States. If such a corporation has reportable transactions with a related party, it is subject to the Form 5472 filing requirement.

A specific rule also applies to foreign-owned U.S. disregarded entities (DEs), such as single-member LLCs. For the purposes of Form 5472, these DEs are treated as separate domestic corporations. This means a U.S. LLC wholly owned by a foreign person must file Form 5472 to report transactions with its foreign owner or other related foreign parties, even though it might not otherwise have a corporate income tax filing obligation.

Determining the Filing Deadline

Form 5472 does not have a unique due date; its filing deadline is tied to the due date of the corporation’s income tax return, including extensions. The form must be attached to this primary tax return when filed. The specific deadline depends on the type of tax return the reporting corporation files and its fiscal year-end.

For a U.S. C-Corporation using a calendar year-end, the associated Form 1120, “U.S. Corporation Income Tax Return,” is due by the 15th day of the fourth month after the tax year ends, typically April 15. A corporation with a fiscal tax year ending on June 30 must file by the 15th day of the third month after its tax year ends. The deadline for an S-Corporation filing Form 1120-S is generally the 15th day of the third month following its year-end.

A foreign corporation engaged in a U.S. trade or business files Form 1120-F, “U.S. Income Tax Return of a Foreign Corporation.” The due date for this return and Form 5472 is the 15th day of the fourth month after its tax year closes if it has a U.S. office. If it does not, the deadline is the 15th day of the sixth month after its tax year ends. Foreign-owned U.S. disregarded entities must file a pro forma Form 1120 with Form 5472 attached, even if no income tax is due, by the 15th day of the fourth month following the entity’s tax year end.

Filing an Extension

An extension for Form 5472 is not requested separately but is obtained by filing for an extension of the associated income tax return. This is done by submitting Form 7004, “Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns,” by the original due date. A timely filed Form 7004 automatically extends the income tax return deadline by six months, which also extends the deadline for the attached Form 5472.

This process applies to all filers, including foreign-owned U.S. disregarded entities filing a pro forma return. For a calendar-year corporation, an extension typically moves the filing deadline from April 15 to October 15. An extension to file is not an extension to pay any tax that may be owed.

Penalties for Non-Compliance

Failing to file a complete and accurate Form 5472 by its due date, including extensions, results in an initial penalty of $25,000. This penalty applies for each required form that is not filed on time or is submitted with incomplete or incorrect information. The financial consequences escalate if the non-compliance continues, and if a reporting corporation fails to file the form after receiving a notice from the IRS, additional penalties are assessed.