Foundlie Blog
LLCs, banking, payments and compliance, explained clearly for founders in Egypt and the Gulf.
Featured Tax & EIN ·
Keep the records that define the company for as long as it exists, and the records behind each year's Form 5472 at least until the IRS can no longer assess tax for that year or collect tax it has already assessed. For the Form 5472 information, the assessment period cannot end until three years after the form is filed. Here is the record-by-record table, the rules behind it, and where the records may be kept.
Tax & EIN A foreign-owned US LLC answers to four separate places each year: the state, the IRS, FinCEN and your bank or payment provider, plus your home country. One table, one dated example and a budget, so you can plan the year and spot services you do not need.
Tax & EIN You can apply for an EIN for a US company even if you do not have an SSN or ITIN. Here is what international founders need to prepare and how the IRS process works.
Tax & EIN A foreign-owned single-member LLC can owe no US income tax and still have to file Form 5472 with a pro-forma Form 1120. The trigger is a reportable transaction with its owner, such as money you put into the LLC or take out of it, not profit. Here is the process in plain language.