November 2025 is here, and the 2026 tax filing season is almost here. This also means that IRS obligations for foreign founders with US LLCs are forthcoming, and foreign founders with US LLCs must prepare during this transition period. Especially since, unlike domestic business owners, non-resident business owners are not accustomed to the tax compliance routine.

As for the risks, the penalties imposed on foreign-owned business entities that are late on filing with the IRS are very severe. They could be more than $25,000 annually, and the headaches created by the penalties are operational in nature and affect the US banking and payment systems.

Missing IRS filing deadlines is very severe. This guide sets deadlines for foreign LLCs for the 2026 tax season (which is for tax year 2024). No matter if you run a single-member LLC or if you’re a multi-member partnership, I’ll provide you with filing information and deadlines.

Why Foreign Founders Should Prepare Before January 2026

Foreign founders should understand there are reasons to prepare before January 2026. Each year, the IRS opens its e-filing system in late January, and for 2026, it will open in late January or early February. This may seem reasonable at first; however, foreign founders have a lot of reasons as to why early preparation is critical.

When trying to coordinate with U.S.-based CPAs or tax preparers, time zones and communication problems become a part of the challenges. Questions that a U.S. tax filer would easily sort out here might take a whole week to solve for someone in Asia, Europe, or another time zone. This is because U.S. tax professionals are in a different time zone and may have a different schedule of working hours.

This is especially the case for non-residents and foreign owners of U.S. LLCs. Gathering up the transaction data would become a great challenge, after all, all reportable transactions, which include capital contributions, distributions, loans, and services provided, are to be reported on Form 5472. If you did not track your transactions closely throughout 2024 and across your foreign-owned LLC in the U.S., this task would be very daunting.

This is particularly true for obtaining an EIN. If you got your EIN a few years back and have never filed your annual returns, the IRS may have “flagged” your EIN, and you will be getting unexpected calls or delays. Addressing this during the off-season and before deadlines can be a great relief.

Beyond the relief nice and early filing brings, foreign founders filing in February or early March can expect a smoother filing experience as their returns will be processed quickly, and the chances of dealing with a tax professional during the rush of tax season are much less. Tax professionals are often very busy during this period, and their response time may be delayed.

Finally, you must address this sooner rather than later because the Form 5472 penalties are hands down the worst and the harshest in the tax code. Missing deadlines with this form will leave the IRS $25,000 richer for each offense and in your poor pocket.

Key IRS Forms Foreign LLCs Must File in 2026

To be compliant, you need to understand which forms need to be completed based on your LLC structure. Below is your 2026 season, which includes tax year 2024, forms checklist:

Form	For Whom	2026 Deadline	Notes
Form 5472 + Pro Forma 1120	Single-member foreign-owned LLC	April 15, 2026	Extension to October 15 via Form 7004
Form 1065	Multi-member (partnership) LLC	March 15, 2026	Extension to September 15 via Form 7004
Form 1120-F	Foreign corporations	April 15, 2026	Applies if U.S. trade/business activity
Form 1040-NR	Non-resident individuals	April 15, 2026	Income-based filing requirement

Form 5472 with Pro Forma 1120 applies to single-member LLCs that are at least 25% foreign-owned. This form reports transactions between the LLC and its foreign owner, and you are required to do this regardless of the LLC making any revenue or profit. This includes forms that show your LLC was dormant. You are still required to have Form 5472 on file for the IRS showing zero transactions for 2024.

Form 1065 is for all partnerships, which include multi-member LLCs. This information return, which includes income, deductions, and allocations, must be filed. Each of the partners will receive a Schedule K-1 to be used for their individual tax return.

Form 1120-F is for foreign corporations doing business in the U.S. If you have a foreign-owned LLC that you have elected corporate taxation for, you may also need to file this form.

Form 1040-NR is for non-resident aliens who have U.S.-sourced income that is not connected to their LLC, for example, dividends, interest, and compensation for services performed in the U.S.

2026 IRS Filing Calendar for Foreign LLCs

Strategic planning can help shift the compliance tax burden from a distressing to a manageable experience. For that, you can follow this plan for every month in the year 2026.

Month (2026)	Activity
January – February	Gather 2024 record transactions, confirm the EIN is active, and get a U.S. tax preparer
March 15	DEADLINE: Form 1065 for partnerships, or Form 7004 to get an extension
April 15	DEADLINE: Form 5472 + Pro Forma 1120, Form 1120-F, Form 1040-NR, or Form 7004
September 15 / October 15	EXTENDED DEADLINE: Submit extended filings if Form 7004 was filed

Your preparation phase is during January and February. This includes compiling bank statements, documenting transactions by the owner, confirming the ownership structure, confirming with the IRS by calling 800-829-4933 that the EIN is active, and getting a U.S. tax professional.

Partnership deadlines come up quickly – March 15 is the cut-off. It is the deadline to file Form 1065 or request an extension to ensure partners get their K-1 schedules in time to file their personal returns.

The primary deadline for single-member LLCs to file Form 5472, foreign corporations to file Form 1120-F, and individuals to file Form 1040-NR is also April 15. You can file Form 7004 by April 15 to extend your deadline to October 15.

If you filed Form 7004, your new deadlines are now September 15 and October 15. Keep in mind that an extension to the filing does not mean an extension to pay any taxes that may be owed.

What Happens If You Miss the 2026 Deadline

Filing deadlines set by the IRS can be missing in days, tough to deal with, or catastrophically missing altogether.

In the case of Form 5472, the problem is the amount of penalties the IRS imposes. For each year you don’t file Form 5472, the penalty is $25,000, and if the IRS contacts you and you still don’t file in 90 days, they add another $25,000. A single year of not filing could be a $50,000 penalty, even if your LLC had no income.

A partner that has not filed Form 1065 will incur penalties of $220 for each month the return is late for up to 12 months. For a two-partner LLC, filing 3 months late results in $1,320 in penalties.

Non-compliance can impact the day-to-day functioning of your business as well:

• Suspended EIN means your EIN will be frozen and will not work for payment processing and banking
• Tax compliance checks by banks and payment processors like Stripe and PayPal will create processing and banking issues
• Due diligence by investors will create issues on their end
• Founders with U.S. immigration perks will have issues with visa applications
• Unlike filed returns, the IRS can pursue you for unpaid/unfiled returns for as long as they want

How to Request an Extension (Form 7004)

If you need more time to file accurately, Form 7004 is your safety net.

It is simple. Form 7004 asks for basic entity information, such as your legal name, EIN, address, and the form you are extending. The IRS will not need to approve your business extension requests. They automatically grant them.

It is highly encouraged to e-file with IRS-authorized e-filing software, your tax professional, or web-based compliance services. This is because e-filing will give you immediate proof of filing.

If you already know you need an extension, please file by March 1. This will help avoid last-minute processing issues, and there is no disadvantage to requesting an extension early.

Having a basic understanding of extensions is important. Filing Form 7004 gives you more time to file your tax return, but doesn’t give you more time to pay any taxes due. You’ll want to pay any estimated taxes due by the original deadline to keep penalties and interest from accruing.

Checklist for Foreign Founders (Pre-Tax Season Prep)

From November 2025 to January 2026, work on the following:

✓ Confirm the ownership structure

• Identify if it is single-member or multi-member
• Record the exact ownership percentages
• Differentiate between U.S. and foreign residents

✓ Collect records for U.S. transactions for 2024

• Retrieve all of the bank statements
• Collect the invoices and the receipts
• Document any capital contributions and distributions
• List any loans or services you and the LLC provided to each other

✓ Confirm the information with the IRS

• Confirm the mailing address and the responsible party
• Update the registered agent if the information has changed
• Call 800-829-4933 to confirm the EIN

✓ Professional Support Before February 2026

• You need to reach out to U.S. tax professionals for a consultation
• Ask for quotes for the specific tax forms you need to file
• Confirm their experience with Form 5472

✓ For important deadlines, set reminders

• January 15—Document all records
• February 15—Prepare Form 7004 if necessary
• March 1—File Form 7004 and recommend filing it early
• March 10—Final reminder for the partnership deadline on March 15
• April 1—Final reminder for all deadlines on April 15

How EasyFiling Can Help with Taxes and Annual Compliance

EasyFiling simplifies both your IRS tax filing and annual compliance obligations, ensuring that your LLC remains in good standing throughout the year.

With our IRS Tax Filing Service, we handle every step of the process—from preparing and submitting your Form 1065 and K-1s to managing IRS extensions and amendments. Our team ensures your filings are accurate, on time, and fully compliant with IRS requirements.

Meanwhile, our Annual Compliance Filing Service helps your LLC stay active at both the federal and state levels. We take care of annual reports, state renewals, and business license maintenance so you can focus on growth, not paperwork.

EasyFiling provides end-to-end support—from initial U.S. company formation to ITIN applications and year-round compliance—making it the trusted partner for global founders and entrepreneurs.

Conclusion

The 2026 tax filing season is a significant compliance milestone for all foreign founders with U.S. LLCs. From a November 2025 perspective, the March 15 deadlines for partnerships and the April 15 deadline for single-member entities can feel a long way off, but the work needed is significant and should start now.

You should treat the November to February window as your preparation season. It gives you the time to collect your support documents, resolve any EIN glitches, and get comfortable that you will not have the IRS’s wrath in the form of penalties