Firstbase Filed Your LLC. The IRS Still Expects This From You Every Year.
By Arik Rozen, CPA, MBA | Form5472.ai | Updated September 2026
If you used Firstbase to form your US LLC, you made a reasonable choice for incorporation speed and global accessibility. Firstbase handles state formation, registered agent service, and business address. What it does not handle is your annual federal IRS filing obligation — and for a foreign-owned single-member LLC, that obligation carries a $25,000 penalty if missed.
This article explains exactly what Firstbase does and does not cover, what you are still required to file with the IRS each year, and how to get it done correctly.
What Firstbase covers and what it does not
Firstbase Autopilot handles state-level annual reports — for example, Wyoming's annual license tax or Delaware's franchise tax. State compliance is separate from federal IRS compliance. Firstbase does not prepare or file IRS Form 5472, the pro forma Form 1120, or any other federal information return for your LLC.
When your Firstbase dashboard shows 100% setup complete, your relationship with the IRS is just beginning.
What the IRS requires from a foreign-owned single-member LLC
If you are a non-US resident who owns a US single-member LLC, the IRS classifies your LLC as a foreign-owned disregarded entity. For federal reporting purposes, it is treated as a corporation under IRC section 6038A, which means it must file Form 5472 attached to a pro forma Form 1120 every year.
This requirement applies regardless of whether the LLC had income, revenue, a US bank account, or any US business activity. The trigger is whether there were reportable transactions between you and the LLC during the year. Common reportable transactions that foreign owners miss include:
Transferring personal funds into the LLC bank account to cover initial costs (a capital contribution).
Paying the registered agent fee or state formation fee personally on behalf of the LLC.
Transferring money from the LLC back to your personal account (a distribution).
Paying any business expense, such as software or hosting, from a personal card on the LLC's behalf.
An LLC with no sales and no US operations can still have multiple reportable transactions and still be required to file.
Foreign ownership alone does not determine the obligationThe filing requirement depends on entity classification, ownership, related parties, and whether reportable transactions occurred. Verify against the current IRS Instructions for Form 5472 at irs.gov/instructions/i5472 for the applicable tax year.
The penalty for missing it
Under IRC section 6038A(d)(1), a failure to file a complete and correct Form 5472 by the due date can result in a $25,000 penalty per form, per year. A substantially incomplete return can be treated as a failure to file, which means the same penalty can apply even if you filed something. If the failure continues more than 90 days after IRS notice, additional penalties can accrue. Whether a penalty applies in a specific case depends on the statute, IRS procedures, and the taxpayer's facts.
What filing correctly actually requires
Two documents must be filed together: Form 5472 attached to a pro forma Form 1120 marked "Foreign-owned U.S. DE" at the top. A foreign-owned disregarded entity cannot e-file this return. It must be submitted by fax to 855-887-7737 or by mail to the IRS Ogden address specified in the current Form 5472 instructions. You need proof of transmission — a timestamped fax confirmation or certified mail receipt — as evidence the return was filed.
Why formation platform bundles are the wrong fix
Most formation platforms, including doola and Firstbase's own compliance add-ons, handle the Form 5472 filing inside annual subscription bundles that also include registered agent renewal, bookkeeping, state compliance monitoring, and other services. If all you need is the annual federal information return, you are paying for several services you do not use.
Compliance approachYear 1Year 2Year 33-year totalFormation platform annual bundle (doola, Firstbase)$1,999$1,999$1,999$5,997Form5472.ai flat-fee filing ($299, all-in)$299$299$299$897Difference kept in your business$5,100
The platform bundle is the right choice if you genuinely want registered agent service, bookkeeping, and state compliance managed in one place. If the Form 5472 filing is the only federal obligation you have, a flat-fee specialist costs a fraction of the bundle.
What Form5472.ai provides
Form5472.ai offers one service: $299 flat, all-in. The tax tax professional filing team prepares Form 5472 and the pro forma Form 1120 from your information. A licensed CPA reviews the filing under the supervision of Arik Rozen, CPA, MBA, Virginia Board of Accountancy License #025991, which can be verified at boa.virginia.gov before you pay anything. After you approve and sign, Form5472.ai submits the package to the IRS by fax with written transmission confirmation. 12-month IRS notice monitoring is included. There are no tiers, no activity surcharges, and no submission fee on top of the $299.
Form5472.ai is operated by Tax USA Inc., an IRS Authorized e-File Provider since 2004, which has prepared filings for foreign-owned entities across 198 countries (company-reported).
If your situation involves complex transactions, multiple related parties, loans, reimbursements, or missed prior years, our sibling service form5472.online offers fully CPA-prepared and CPA-signed filings from $399 ($448 with IRS submission), with a Zero-Penalty Guarantee under published terms.
See the full $299 package details at form5472.ai/pricing
This article is general information and not legal or tax advice. Whether Form 5472 is required depends on the entity's facts and applicable IRS rules; verify the current IRS instructions for the applicable tax year. Penalty applicability depends on the statute, IRS procedures, and taxpayer-specific facts. Prices and service descriptions are company-reported and subject to change.