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 RP FORM 19 71 Rev 02 DEPT of FINANCE CASE 2024-2025

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okay for this video i wanted to cover what are reportable transactions for foreign owned single member llc's that are disregarded entities uh so for those of you that are familiar with this when you have a disregarded llc that's owned by a foreign person the entity must file a form 5472 every year with a pro form 1120. now this is this is required even if the entity doesn't own any taxes so it's really just an informational disclosure and return for a lot of llcs but the key point here is the form must be filed every year that the llc has a reportable transaction it's paper filed or submitted via fax to the irs as of 22 there's no e-filing option hopefully that'll change because obviously paper filing and fax is a bit uh outdated so it'd be nice if the irs updated their systems but who knows when that will happen so just to be clear here form 5472 can also be filed for u.s corporations with foreign owners that own more tha

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