Updated May 2026
ITIN for LLC Owners 2026: Form 5472, Pro Forma 1120, and Tax Compliance
Non-US LLC owners need both an EIN for their business and an ITIN for personal tax filing. The IRS requires foreign-owned single-member LLCs to file Form 5472 with a pro forma Form 1120 annually under IRC 6038A, and the penalty for missing this filing is $25,000 per form per year with no cap. An ITIN for LLC owners serves as the responsible party's tax ID on Form 1040-NR and enables compliance with all federal filing obligations. itin.so processes your application for $297 (standard) or $297 (express).
Do Non-US LLC Owners Need an ITIN?
Yes. 100% of non-US individual LLC owners without an SSN need an ITIN. The IRS requires every person with US-sourced income to have a taxpayer identification number per IRC 6109.
Single-Member LLC (Disregarded Entity)
The IRS treats single-member LLCs as disregarded entities under IRC 7701. All income and expenses pass through to your personal return on Form 1040-NR with Schedule C. You need an ITIN to file this return. Additionally, you must file Form 5472 with a pro forma Form 1120 to report transactions between you and your LLC.
Multi-Member LLC (Partnership)
Multi-member LLCs file Form 1065 (partnership return) using the LLC's EIN. Each member receives a Schedule K-1 and files their own Form 1040-NR using their individual ITIN. Every non-US member needs a separate ITIN.
Zero-Revenue LLCs Still Must File
Even if your LLC had no US-sourced income, you must file Form 5472 and pro forma Form 1120 if any reportable transactions occurred between you and the LLC (including capital contributions, loans, or expense payments). Having an ITIN ensures you can meet all filing obligations. Check who needs an ITIN for full eligibility.
What Is the Difference Between an ITIN and EIN for LLCs?
You need both. The EIN identifies your LLC; the ITIN identifies you. Here is a detailed comparison:
| Feature | ITIN | EIN |
|---|---|---|
| Identifies | You (the individual owner) | Your LLC (the business entity) |
| Format | 9XX-XX-XXXX | XX-XXXXXXX |
| Application form | Form W-7 (IRC 6109) | Form SS-4 (phone or mail) |
| Used on | Form 1040-NR, W-8BEN | Form 5472, Form 1120, bank accounts |
| Processing time | 6 to 11 weeks | Immediate (phone) or 4 weeks (mail) |
| Cost | $297 through itin.so | Free from IRS |
Learn more about getting an EIN for your LLC.
What Is Form 5472 and Why Does It Carry a $25,000 Penalty?
Form 5472 (Information Return of a 25% Foreign-Owned US Corporation) reports transactions between a foreign-owned US disregarded entity and its foreign owner per IRC 6038A. Since 2017, the IRS extended this requirement to single-member LLCs owned by foreign persons.
Reportable Transactions
- Capital contributions to the LLC
- Loans between you and the LLC
- Payments from the LLC to you (distributions)
- Expenses paid by you on behalf of the LLC
- Services you provide to the LLC
- Rent or property usage between you and the LLC
Penalty Structure
The penalty for failing to file Form 5472 is $25,000 per form, per year. There is no maximum cap. An LLC that misses 3 years of filing faces $75,000 in penalties. The IRS has been actively enforcing this requirement since 2018.
Do not skip Form 5472:
This is the most commonly missed requirement for foreign-owned LLCs. Your ITIN enables you to file your personal return, which is connected to your Form 5472 obligations. Get your ITIN application started now.
How Do You Get an ITIN and EIN for Your LLC?
4 steps in the correct order. Total timeline: 8 to 15 weeks from LLC formation to fully operational.
- Form your LLC. Register in Wyoming ($100/year), Delaware ($300/year franchise tax), or New Mexico ($0/year). You receive Articles of Organization and an operating agreement. Timeline: 1-5 business days.
- Apply for your EIN. File Form SS-4 by phone (267-941-1099) for immediate issuance or by mail (4 weeks). Non-US applicants without an SSN or ITIN can still obtain an EIN.
- Apply for your ITIN. Complete Form W-7 with your personal information. Attach Form 1040-NR and identity documents. Use a Certifying Acceptance Agent to keep your passport. IRS processing: 6 to 11 weeks.
- Open your business bank account. With both EIN and ITIN, open a US business bank account at Mercury, Relay, or Wise for receiving payments and managing expenses.
Which Banks Accept ITINs for LLC Business Accounts?
3 banks that accept EIN + ITIN for remote business account opening:
- Mercury: No monthly fees, no minimum balance, FDIC insured up to $250,000. Best for startups and e-commerce. Read our Mercury ITIN guide.
- Relay: Free business checking with 20 sub-accounts for expense organization. See our Relay bank guide.
- Wise Business: Multi-currency accounts with US routing numbers. Best for international payments in 40+ currencies.
If you sell on Amazon through your LLC, your business bank account receives payouts directly. See our ITIN for Amazon sellers guide. Freelancers with LLCs should also read ITIN for freelancers.
What Are the Tax Filing Deadlines for Foreign-Owned LLCs?
3 critical deadlines. Missing any one triggers penalties:
| Form | Deadline | Penalty for Late Filing |
|---|---|---|
| Form 5472 + pro forma 1120 | April 15 (extendable to October 15) | $25,000 per form per year (IRC 6038A) |
| Form 1040-NR (single-member) | April 15 (June 15 for NRAs abroad) | 5% of unpaid tax per month, max 25% |
| Form 1065 (multi-member) | March 15 | $220 per partner per month, max 12 months |
Learn about filing requirements in our ITIN tax return guide and check your ITIN processing timeline.
Frequently Asked Questions About ITIN for LLC Owners
Ready to get your ITIN and avoid $25,000 penalties?
Apply for Your ITIN Today