U.S. Reporting Requirements for Foreign-Owned LLCs and Corporations
When a U.S. LLC or corporation is owned by foreign founders, several reporting rules may apply depending on the entity’s structure, tax classification, and the owners’ circumstances. The most common reporting obligations come from the IRS, FinCEN, and the Bureau of Economic Analysis (BEA).
FBAR Reporting
A U.S. person must file an FBAR if they have a financial interest in, or signature authority over, foreign financial accounts whose aggregate value exceeds $10,000 at any time during the calendar year.¹ This filing is made on FinCEN Form 114.
Form 8938 Reporting
Some U.S. persons must also file IRS Form 8938 if they hold specified foreign financial assets above applicable thresholds.² This requirement may apply depending on the filer’s tax status and the total value of foreign assets.
Form 5472
Foreign-owned U.S. corporations, and some LLCs treated as corporations for tax purposes, may have to file Form 5472 if they engage in reportable transactions with related parties.³ This form is commonly required in foreign-owned structures and can carry significant penalties if omitted.
BE-13 Reporting
The Bureau of Economic Analysis requires Form BE-13 in certain cases involving foreign direct investment in the United States.⁴ This does not apply to every foreign-owned business, but it can be required when a foreign person acquires or establishes a covered U.S. business.
BOI Reporting After the 2025 FinCEN Rule
Beneficial ownership reporting changed in March 2025. FinCEN’s interim final rule removed BOI filing requirements for entities formed under U.S. law. Foreign entities registered to do business in the United States may still need to report, unless an exemption applies.⁵
For foreign founders, the key questions are:
- Where was the entity formed?
- Was it registered with a state or tribal filing office?
- Does an exemption apply?
Conclusion
Foreign-owned U.S. businesses should review their federal, state, and tax obligations carefully. Even when BOI reporting is no longer required, other filings may still apply. A tax professional or attorney can help determine which obligations are triggered by the business structure.
Citations
- 31 C.F.R. § 1010.350(a) (2025).
- I.R.C. § 6038D; 26 C.F.R. § 1.6038D-2 (2025).
- I.R.C. § 6038A; I.R.S. Instructions for Form 5472 (2025), https://www.irs.gov/instructions/i5472.
- 15 C.F.R. § 801.4.
- FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies (Mar. 21, 2025), https://www.fincen.gov/news/news-releases/fincen-removes-beneficial-ownership-reporting-requirements-us-companies-and-us; 31 C.F.R. § 1010.380(c) (2025).
Rev Date: 06/25/2026
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