Form 5472 — Information Return of a 25% Foreign-Owned US Corporation or a Foreign Corporation Engaged in a US Trade or Business

This skill produces an audit-grade draft of Form 5472 for a reporting corporation (the entity required to file) covering each related party with which it had reportable transactions during the tax year. The form is filed as an attachment to the reporting corporation's income tax return:

• US C-corporation (Form 1120) → Form 5472 attached
• Foreign corporation engaged in US trade/business (Form 1120-F) → Form 5472 attached
• Foreign-owned US disregarded entity (DE) (typically a single-member LLC owned by a non-US person) → file a pro-forma Form 1120 with Form 5472 attached. The pro-forma 1120 is mostly blank (the DE has no US income tax liability of its own; income flows through to the foreign owner). It exists solely as a vehicle for Form 5472. This is the most common 5472 scenario and the one most often missed.