Pro Forma Form 1120 for Foreign-Owned LLCs

You know you have to file Form 5472 to report transactions with your foreign-owned LLC. But you cannot just send Form 5472 to the IRS by itself. It must be attached to a specific "cover sheet" known as a Pro Forma Form 1120.

Updated May 2026 • 6 min read

Quick Answer

A Pro Forma Form 1120 is a largely blank US Corporate Income Tax Return. Foreign-owned Single-Member LLCs must fill out the identifying header information on this form, write "Foreign-owned U.S. DE" across the top, and attach Form 5472 to it before sending it to the IRS by April 15th.

Key Points for 2026

No Financials: You do not calculate taxes or list your LLC's income on the Pro Forma 1120.
The Cover Sheet: Its only purpose is to act as a vehicle to deliver Form 5472 into the IRS system.
Filing Method: You must fax or mail this packet to the IRS. You cannot file it through consumer software like TurboTax.

How to Prepare the Pro Forma 1120

Preparing the form is relatively simple if you follow the strict IRS formatting rules.

Step 1: The Magic Words

At the very top of page 1 of Form 1120, above the title, you must write or type exactly this phrase: "Foreign-owned U.S. DE". This tells the IRS clerk processing the mail not to expect any tax payments or financial data.

Step 2: The Header

You must fill out the top section identifying your LLC. This includes:

Name: The legal name of your LLC.
Address: Your LLC's US mailing address (usually your registered agent or virtual mailbox).
Employer Identification Number (EIN): Box B.
Date Incorporated: Box E (The date your LLC was formed).

Step 3: Leave the Rest Blank

Do not fill in Line 1 (Gross Receipts), Line 30 (Taxable Income), or any other financial boxes on pages 1 through 6. Leave them all completely blank.

Step 4: Sign and Attach

The foreign owner (or an authorized US representative) must sign and date the bottom of Page 1. You then place your completed Form 5472 behind the Pro Forma 1120 and send them together as a single packet.

Multi-Member LLCs

This process is only for Single-Member LLCs. If your LLC has two or more members (owners), it is a Partnership. Partnerships do not file Form 1120 or Form 5472. Instead, they file a standard Form 1065 (Partnership Return) and report foreign partners differently.

What to Do Next

Understand Form 5472: The Pro Forma 1120 is just the cover sheet. The real work is filling out Form 5472 correctly.
Check your EIN: Ensure you have your EIN confirmation letter (CP575) before you begin filing, as you must use the exact name and address the IRS has on file.
Set up bookkeeping: Since Form 5472 requires reporting specific owner transactions, you should have clean bookkeeping records in place.

Pro Forma 1120 FAQs

Do I have to fill out the financial sections of Form 1120?

No. A pro forma return requires you to leave all the financial income, deduction, and tax calculation lines completely blank. The IRS just needs the top 'header' section identifying the company.

Why do I have to file Form 1120 if I'm an LLC?

Because Section 6038A treats your foreign-owned Single-Member LLC as a corporation strictly for reporting purposes. Form 1120 is the corporate tax return, so it serves as the 'cover sheet' for your Form 5472.

Where do I send the Pro Forma 1120?

You must attach your Form 5472 to the Pro Forma 1120 and fax them both to the IRS (typically to 855-887-7737) or mail them to the IRS office in Ogden, Utah. Check current IRS instructions for the exact address.

What does 'Pro Forma' mean?

In accounting, 'pro forma' means a document provided as a matter of form, or a formality. In this case, it means you are filing the form to satisfy a requirement, not to calculate actual taxes owed.