Form 5742 filing?

[robbie777]

Hi everybody I am new on the forum. I am from the UK and looking to setup offshore in Wyoming as a LLC. There is a lot of waffle online about it and I hear a lot of great things being said, but when it comes to tax filing everyone stays quiet. As a newbie to start an offshore company in the US. Before I commit to it I am a little confused at what needs to be filed in terms of tax.

I know the Form 5742 has to be filed for foreign-US LLC but the services I am looking on to help incorporate me only file the annual reports and have nothing to do with the tax filing. Every wyoming accountant service I talk too don't give fees unless I talk to them via consultation at a fee of $200 per 30min. I would be willing to pay an accountant fee to file it for me and any trading evidence (quickbooks / accounting software).

I feel like I am in the middle of a rock and a hard place about incorporating in the US. Has anyone else on here incorporated an LLC in wyoming that understands the Form 5742 or knows of any company that will help file it on time?

(P.S - My company will not be physically active in the US, it will be selling services and some may end up US clients (similar to the whole amazon dropshipping thing) - No presence or employment in the US though)

Hope someone can be helpful on here.

Look forward to the replies.

 

[exprtadvisrdev]

I have been using the services from onlinetaxman.com, they charge a minimum of $500 to fill 5472+1120 depending on how complex are your transactions

 

[Singa]

Hi everybody I am new on the forum. I am from the UK and looking to setup offshore in Wyoming as a LLC. There is a lot of waffle online about it and I hear a lot of great things being said, but when it comes to tax filing everyone stays quiet. As a newbie to start an offshore company in the US. Before I commit to it I am a little confused at what needs to be filed in terms of tax.

I know the Form 5742 has to be filed for foreign-US LLC but the services I am looking on to help incorporate me only file the annual reports and have nothing to do with the tax filing. Every wyoming accountant service I talk too don't give fees unless I talk to them via consultation at a fee of $200 per 30min. I would be willing to pay an accountant fee to file it for me and any trading evidence (quickbooks / accounting software).

I feel like I am in the middle of a rock and a hard place about incorporating in the US. Has anyone else on here incorporated an LLC in wyoming that understands the Form 5742 or knows of any company that will help file it on time?

(P.S - My company will not be physically active in the US, it will be selling services and some may end up US clients (similar to the whole amazon dropshipping thing) - No presence or employment in the US though)

Hope someone can be helpful on here.

Look forward to the replies.

Hi Mr robbie.
Here is a guide this guy Chris put together... He also can help u to file that form 5472 with $300-350 max, u will find the details within this article he put..



https://globalisationguide.org/us-llc-non-resident/#3-tax-obligations-for-non-resident-owners
You can also use fiverr..

Hope that helps

 

[Fulton Abraham Sanchez]

Hi everybody I am new on the forum. I am from the UK and looking to setup offshore in Wyoming as a LLC. There is a lot of waffle online about it and I hear a lot of great things being said, but when it comes to tax filing everyone stays quiet. As a newbie to start an offshore company in the US. Before I commit to it I am a little confused at what needs to be filed in terms of tax.

I know the Form 5742 has to be filed for foreign-US LLC but the services I am looking on to help incorporate me only file the annual reports and have nothing to do with the tax filing. Every wyoming accountant service I talk too don't give fees unless I talk to them via consultation at a fee of $200 per 30min. I would be willing to pay an accountant fee to file it for me and any trading evidence (quickbooks / accounting software).

I feel like I am in the middle of a rock and a hard place about incorporating in the US. Has anyone else on here incorporated an LLC in wyoming that understands the Form 5742 or knows of any company that will help file it on time?

(P.S - My company will not be physically active in the US, it will be selling services and some may end up US clients (similar to the whole amazon dropshipping thing) - No presence or employment in the US though)

Hope someone can be helpful on here.

Look forward to the replies.

5472 form is only fileable if there are transactions with the owner of the company, such as distributions, loans, etc. If you have no such transactions, no need to file that form.

 

[howyoudoin]

5472 form is only fileable if there are transactions with the owner of the company, such as distributions, loans, etc. If you have no such transactions, no need to file that form.

This is false info

 

[startfleetio]

We wrote an article on the Form 5472 for Single Member LLC here at Annual Compliance Requirements for a US LLC owned by Non-Residents, which is a part of the US LLC for Non Residents Guide