The EIN and IRS forms · A term for founders abroad
What is Form 7004?
extension. The IRS form that gives a business six more months to file its return, including the pro forma 1120 with Form 5472; it doesn't extend time to pay.
Checked against the IRS's instructions and the states' own rules. Reviewed by Saais Patel, compliance reviewer.
Term 46 of 105 in the glossary, filed under F.IRS: instructions for Form 5472
Form 7004, for a founder abroad.
Filed by the original due date, Form 7004 gives an automatic six-month extension for Forms 1120 and 1065. A foreign-owned LLC that won't have its Form 5472 ready by 15 April files it, by fax or post to the same IRS address as the return, to move the deadline to 15 October.
It extends the time to file, not to pay: any tax owed is still due on the original date. Nothing is approved; the extension applies once the form is sent on time, so keep the fax confirmation or postal receipt.
Sources: IRS: instructions for Form 5472.
Read next · guide · 3 minThe tax and filing calendar for a foreign-owned US companyWhat founders ask next.
- Does Form 7004 extend Form 5472?
- Yes, for a foreign-owned LLC: it extends the pro forma 1120, and Form 5472 goes with it, to 15 October.
- Do I need a reason to file Form 7004?
- No. The extension is automatic if the form is filed by the due date.
03 · See also
- The EIN and IRS formsForm 5472The yearly IRS information return a foreign-owned US company files to report transactions with its foreign owner, with a $25,000 penalty for missing it.Read the term
- The EIN and IRS formsForm 1120The US corporate income tax return, filed yearly by a C-Corporation and, as a pro forma version, by a foreign-owned single-member LLC.Read the term
- The EIN and IRS formsForm 1065The US partnership return, filed yearly by a multi-member LLC, with a Schedule K-1 for each owner showing their share.Read the term
- The EIN and IRS formsEINThe nine-digit tax number the IRS assigns to a business, and the first thing every US bank, payment processor and marketplace asks for.Read the term
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