> informational filing requirement if you are a foreign owned US Single Member LLC (Form 5472/1120).
Lets say hypothetically someone operating IT consultancy service didn't know about that requirement, is running company 5+ years, has EIN, paid LLC Delaware annual tax but never filled those forms.
1. What in that kind of hypothetical scenario should that person do?
2. Does the penalty for not filling it would affect that person LLC only (as disregarded entity)? so basically he would not be personally liable ?
3. Does your site offer filling those forms as a service?
Great q, I can see if a CPA in my network has a good answer to this (feel free to shoot me an email, link in bio, with more context as well)
And yes we can help with these filings but the circumstance above where a previous filing wasn't completed is an interesting case so will have to see what the best option is give that!
Lets say hypothetically someone operating IT consultancy service didn't know about that requirement, is running company 5+ years, has EIN, paid LLC Delaware annual tax but never filled those forms.
1. What in that kind of hypothetical scenario should that person do?
2. Does the penalty for not filling it would affect that person LLC only (as disregarded entity)? so basically he would not be personally liable ?
3. Does your site offer filling those forms as a service?