Form 1120+5472 – SMLLC - Alon Aharonof CPA

What you Should Know About Form 1120 + 5472 – SMLLC

SMLLC (Single Member LLC) is a transparent U.S corporation fully owned (100%) by an individual or corporation.
Since the corporation is fully owned by an individual or corporation, the LLC becomes a disregarded entity, tax-wise, and all income must be reported directly by the holding individual or corporation.
Nonresident Alien Individual (1040NR), U.S. Individual (1040), Foreign Corporation (1120F) or U.S Corporation (1120, 1065 or 1120S).
If the owner of the corporation is a Nonresident Alien Individual or Foreign Corporation, a Form 1120+5472 must be filed by April 15th.
One can file for an extension by the above date, and extend the due date to October 15th.
If this date falls on a Federal U.S holiday or the weekend, this date is postponed to the following day.
An LLC with foreign partners (non U.S citizens or residents) must withhold tax at a federal and often at the relevant State level.
The withholding tax payments are made on a quarterly basis, but it is important to make such payments before December 15th of that tax year, if no tax was withheld throughout that tax year.

We recommend that you contact our firm towards December 15th, before the tax year ends, to enable us to prepare ourselves well for the current tax year.
Our firm works according to the order it receives materials, and so we recommend contacting us earlier rather than later.
Contact us today to receive a letter of engagement and a list of the materials we require to file your taxes.