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Missed Form 5472

Missed Form 5472 for one year, or several

We prepare every late year and draft the reasonable cause statement. File before the IRS writes, if you can.

Book a 30 minute call

Read this first

Already got an IRS letter?

You need an Enrolled Agent or tax attorney who can represent you. We tell you that on the first call, and we can still prepare the missing returns and draft the reasonable cause statement.

Have the letter next to you when we talk.

Book a call about the letter

How it usually happens

Nobody mentioned the form when the LLC was set up

These are owners writing on r/tax, in their own words. If one of these sounds familiar, the fix is the same.

“What I did not know until recently is that the LLC still had to file Form 5472 with a pro-forma 1120 every single year, and I never filed any of them.”
An LLC owner on r/tax, not a Soarx client
“I had no idea the form existed, no US tax background, no advisor at the time.”
An LLC owner on r/tax, not a Soarx client
“My registered agent resigned in 2024 without ever telling me, so any IRS notice had a dead address to go to and I never saw a thing.”
An LLC owner on r/tax, not a Soarx client

The 5472 late filing penalty

$25,000 per form, per year

That's the starting penalty under IRC section 6038A(d) for each Form 5472 that wasn't filed. Three missed years can mean three of them.

If the IRS writes about it and the form still isn't filed 90 days later, a further $25,000 can be added for each 30 days it stays unfiled.

First-time abatement generally doesn't apply here. The usual route is reasonable cause: a written statement explaining why the forms were missed, filed with the late returns.

General information, not tax advice for your situation.

Your LLC name
c/o Registered agent
Cheyenne, WY

Notice number:
CP215
Tax form:
CVL PEN
Tax period:
Dec 31, 2023

We charged you a penalty

Failure to provide information with respect to certain foreign-owned U.S. corporations

Tax statement

Prior balance
$.00
Penalty assessment
$25,000.00
Interest charged
$.00
Other charges
$.00
Total amount you owe
$25,000.00
Example laid out like IRS notice CP215. Not a real notice.

Before you book

What we do on late years, and what we can't

What we do

  • ✓Work out which years are missing, starting from the year the LLC was formed.
  • ✓Prepare Form 5472 and the pro forma 1120 for each of those years, from your records.
  • ✓Draft the reasonable cause statement: what happened, when you found out, and what you did about it.
  • ✓Put each year's filing on a calendar ahead of the deadline, so the next one goes in on time.

What we can't do

  • ✕Represent you before the IRS. If a letter has arrived or the case escalates, you need an Enrolled Agent or tax attorney, and we tell you that on the first call.
  • ✕Promise the penalty goes away. The statement asks for relief. The IRS reads it and decides.
  • ✕Negotiate, appeal or set up payment plans. Those need someone with representation rights.

How it works

From the first call to the returns going in

If the IRS hasn't contacted you about these years, late information returns can usually go in under the IRS's delinquent international information return procedures, with the statement attached. That route can still end in a penalty. The statement is your case for relief.

  1. 01

    A 30 minute call

    You tell us when the LLC was formed, which years were filed, and whether the IRS has written. We tell you which route fits.

  2. 02

    Records, year by year

    Formation date, EIN letter, and what money moved between you and the LLC in each year. Bank statements help, even rough ones.

  3. 03

    Returns and the statement

    We prepare each missing year and draft the reasonable cause statement. You read it and correct anything that isn't how it happened.

  4. 04

    The returns go in

    Each late year goes in with the statement attached.

Price

A flat fee for each late year

Quoted in writing after the first call, once we know how many years are missing.

Each late year

From $899

Form 5472 and pro forma 1120, plus the reasonable cause statement

Representation

Enrolled Agent or tax attorney

needed when a letter has arrived. We tell you on the first call

Turnaround

Agreed in writing

before we start, from the day we have every year's records

Only this year missing, and no letter? That's the standard Form 5472 filing.

FAQs

What owners ask about late years

Some people do get relief on reasonable cause. Nobody can promise it, and anyone who does is guessing. What helps is filing every missing year, with a statement that says plainly what happened, before the IRS writes to you.

For this form the IRS treats the LLC as the reporting company, so that is who the penalty is aimed at. Whether it can reach you personally depends on your facts, and that is a legal question for an Enrolled Agent or tax attorney. We won't guess at it.

Generally not for this penalty. First-time abatement covers the usual failure to file and failure to pay penalties, and the Form 5472 penalty isn't normally one of them. The route that usually applies is reasonable cause.

Often, yes. Paying the formation or registered agent fees for the LLC can be a reportable transaction on its own. We go through each year with you and tell you which ones actually needed a filing.

Find out what the IRS has already sent before anything else, because that decides the route. Book a call and we'll walk through it with you. If a notice exists, answering it needs an Enrolled Agent or tax attorney, and we'll tell you that on the call.

No. Qeihan is a tax return preparer. He prepares and signs returns like these. He can't represent anyone before the IRS, If your file needs someone to represent you, we tell you on the first call that you need an Enrolled Agent or tax attorney. More on our disclosures page.

Count the missing years and get them filed

From $899 per late year. 30 minutes with Qeihan to count the years and quote it in writing.

Book a call