If your US single-member LLC has effectively connected income or other US-sourced income, you will need to file a US tax return and may owe income taxes.
Filing obligations can still apply even if the LLC had no income, if you were a foreign owner due to Form 5472 and pro-forma Form 1120 reporting requirements.
Here's an overview of what we'll cover—click any section to jump ahead
- What is a Single-Member LLC?
- Who Does This Apply to?
- Single Member LLC and Non-US citizens/NRAs
- How Do I Declare My Form 1040-NR In Your Software?
What is a Single-Member LLC?
A Single-Member LLC is a business structure with a single owner. It combines a corporation’s liability protection with a sole proprietorship’s flexibility. This means that you, as the owner, are not personally responsible for the business’s debt and have full control over the business operations.
Who This Applies To
This may apply to:
- US citizens
- Green Card holders
- Non-US citizens
Single Member LLCs and Non-US citizens/NRAs
If you are a non-US citizen or an NRA and have effectively connected income or other US-sourced income, you will need to file Form 1040-NR and potentially pay income taxes. If not, you generally only need 5472 and a 1120, which we support.
How Do I Declare My Form 1040-NR In Your Software?
You must complete your profile as a non-U.S. citizen who needs 1040-NR in our Form Selection section. Then, you will need to enter your single-member LLC role in our Self-Employment section.
From there, a Tax Professional will get in contact, as this requires at least our Reviewed Plan.
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