How to File Taxes for a Limited Liability Company (LLC) with Foreign Owners

Are you looking to form a business in the US? Don't go it alone - get the help you need to ensure you're filing correctly and paying the right taxes.

This video explains that.
📌Foreign-owned single member LLCs are required to file Form 5472.
📌Foreign-owned LLCs with multiple members would file Form 1065.

If there is no effectively connected income the forms are filed with a statement indicating this. If there is effectively connected income (or a US Partner) then Forms 8804 would be required to remit withholdings on behalf of the foreign partners per code section 1446.

00:00: Introduction
00:13: LLC Basics
01:49: Filing Requirements
05:49: Conclusion

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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.

--Longer videos that explain it all!
How to Legally Pay NO US Taxes - youtube.com/watch?v=XbwVGJdeXzo
How to Legally Pay NO US Taxes (part 2) - youtube.com/watch?v=Z3hrWCyC6Xo

--Guides and How tos
Annual reporting for a foreign owned multi member LLC (Masterguide) - youtube.com/watch?v=j2lAgZ3nrgQ

What is Form W-BEN and why do I need it youtube.com/watch?v=KiuDb-IqfLM

Which payments from US Companies are subject to withholding? youtube.com/watch?v=aVV80um2EJU&t=6s

How to complete Form W-8BEN - youtube.com/watch?v=JXaD-w42CAM

How to complete Form W-8BEN-E - youtube.com/watch?v=_6Lqr4srKto&t=0s

How to get an ITIN - youtube.com/watch?v=skmtfumWq3g

---And don’t forget to check out all of the “CALLS WITH JIM”
youtube.com/playlist?list=PLy9mc3SujIpbWfE5CZhE…
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
Click here - jamesbakercpa.com/offers/eFBz5dnj/checkout

Already have an LLC? Did you already complete form 5472 for your company? Did you know there is a $25,000 penalty for not doing this form? I’ve made a short training that explains exactly what you need to do and why so you can get this done quickly and correctly, the first time around.
Click here - jamesbakercpa.com/offers/fTokTPsb/checkout

Here you find a link so you can create your Mercury account mercury.com/partner/jamesbakercpa
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -

What are sales taxes? youtube.com/watch?v=-IPTFf225-8

What is a resale Certificate and Why do you Need it - youtube.com/watch?v=LWoFc4dkcAk

How to get a Florida Resale Certificate, Part 1 - youtube.com/watch?v=-YhDXdAuBB8

How to get a Florida Resale Certificate, Part 2 - youtube.com/watch?v=rf1eHKlgJLk

How to file a DR-15 Florida Sales and Use Tax with 0 Sales - youtube.com/watch?v=D1j49ssw1Jc

I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. taxjar.grsm.io/jamesbaker7628

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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.

#businessformation #taxes #LLC #partnership