Most founders abroad think a US LLC with no income means nothing to file. That belief is the single most expensive mistake in this space, and it costs $25,000.
The truth is that filing runs on a calendar, not on your sales, and a company with zero income still has dates to hit. Here are the 6 Tax Deadlines Every Non-Resident Founder Must Know, in the order they arrive.
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Why Dates Matter More Than Income
The US system splits two things that feel like one. Paying tax depends on what you earned. Filing depends on what you are.
So a foreign-owned LLC can have no customers, no US office, and an empty account. It can owe no tax at all and still face a large fine for staying silent. The fines attach to the missing paper, not to unpaid tax. Once you see that split, the calendar below stops looking like red tape. It starts looking like a risk.
1. March 15: Partnership Returns
If your Limited Liability Company has two or more members it is considered a partnership. You have to file Form 1065 by the day of the third month after the year ends. For a business that works on a calendar year that means you have to file it by March 15.
The form also makes a Schedule K-1 for each member. This schedule shows each member’s share of the profit or loss. If you file late you get charged for each member for each month. So if you have a two-member Limited Liability Company and you are three months late you pay a lot more. You can get an extension to September 15 by filing Form 7004.
Single-Member Owners Can Skip This One
If you are a member of your Limited Liability Company you do not have to file a partnership return. Your Limited Liability Company is not considered a partnership so you can skip this step.
This is important to know. A lot of business owners read tax information and get worried, in March for no reason. First check how members your Limited Liability Company has and then you can follow the right steps.
2. April 15: Form 5472 and the Pro Forma 1120
This is the date that a lot of people forget. If a foreign person owns your United States Limited Liability Company you have to file Form 5472 every year. You have to attach it to a Form 1120. You have to do this even if your company did not make any money.
The trigger is a reportable transaction with a related party, and funding the company is one of those. So your first transfer of money into the business already starts the duty. The penalty is $25,000 per form, per year. More can follow if the IRS sends a notice and nothing is fixed.
One Filing Rule to Remember
You cannot file this package online. A foreign-owned disregarded entity must send it by mail or fax to one specific IRS unit. Software that offers to e-file it will simply be rejected.
Form 5472 is due April 15 but extendable to October 15 via Form 7004, and form5472.tax’s deadline calculator helps you track it. Filing that extension is free and takes minutes. There is no reason to leave it to chance.
3. April 15: FBAR
The FBAR is not a tax return. It is a report to the Treasury about foreign bank accounts. You file it on FinCEN Form 114, through a system that is separate from the IRS.
You file if a US person holds foreign accounts worth more than $10,000 in total at any point in the year. A US-formed LLC counts as a US person here. That line is a peak, not a year-end balance. One busy day can trigger it.
The Extension Nobody Requests
Here is a small mercy. The FBAR carries an automatic extension to 15 October. You do not file anything to get it. No form, no request, no penalty in between.
Do not stretch it further, though. A tax return extension does not push the FBAR past October. Late penalties are serious too. An honest mistake can cost many thousands of dollars. A wilful failure costs far more.
4. October 15: The Extended Deadlines
October is the second big date, and by then two separate things land together. Your extended Form 5472 package is due, if you filed Form 7004 back in April. Your FBAR is due as well, under the automatic extension. Both fall on the same day. That helps with planning, but it is dangerous if you think one covers the other.
Remember that an extension moves the filing, not the payment. If you owe tax, interest has been running since April. So the extension buys paperwork time, not money time. Founders who extend in April and then forget often lose the whole summer, and arrive in October with two filings to prepare at once.
5. Quarterly: Estimated Tax Payments
This one applies to some founders only. It is worth checking rather than guessing.
Say you have US income tied to a US trade or business. Then you may owe tax during the year, rather than in one lump. Those payments usually fall due in April, June, September, and January. Many businesses run purely from abroad never hit this. But if you have US staff, a US office, or US-linked earnings, check your position with an accountant.
If You Have Employees
Payroll adds its own rhythm. Form 941 is filed each quarter, at the end of the month after the quarter closes. Deposits are due monthly or semiweekly, based on your history.
Payroll deposit dates are stricter than filing dates. They cause more penalties than anything else on this page. If you hire even one person in the US, treat those dates as fixed.
6. State Annual Reports: The Dates That Vary
Federal deadlines are national. State ones are not, and this is where founders get caught in year two. Wyoming ties the report to your formation anniversary month, and the minimum fee is around $60. Delaware sets 1 June for LLCs, with a $300 franchise tax. Florida uses 1 May, with a fee near $139. California runs its own $800 minimum franchise tax on a separate schedule.
Missing this one brings a different kind of pain. The state can close your company, sometimes within about sixty days. Bringing it back costs far more than the report would have. Put your own state date in the calendar the week you form.
Building Your Own Calendar
Work backwards from the risk, not the date. The $25,000 exposure sits with Form 5472. So that gets the earliest reminder, and an extension filed in April either way.
Then add your state anniversary, because that one can end the company. Then add FBAR if you cross the line, plus partnership or payroll dates if they apply. Four repeating entries in a calendar app cover almost every founder here.
Frequently Asked Questions
Do I file if my LLC made no money?
Yes. Form 5472 is triggered by reportable transactions, not income. Funding your own company counts as one, from the first transfer.
Does Form 7004 extend everything?
No. It extends the Form 5472 package to October. The FBAR extends automatically without it, and state reports are not affected at all.
What is the FBAR threshold exactly?
More than $10,000 across all foreign accounts at any single moment in the year. It is measured at the peak, not at the end.
Can I e-file the Form 5472 package?
No. A foreign-owned disregarded entity must send it by mail or fax. Electronic submissions are rejected, so plan for posting time.
Which deadline is the most expensive to miss?
Form 5472, at $25,000 per form per year. State reports cost less, but they can close your company, which is worse in practice.
