Frequently Asked Questions

A 1099-K is an informational return that Stripe files directly with the IRS on your behalf — they report your gross payment volume when it crosses the reporting threshold. You don't file it yourself, but you need to account for it.

Steps: verify the amounts match your records, then pass the form to your compliance service so it gets reconciled against your LLC's tax return (Form 1120 + 5472). If the figures look wrong, contact Stripe to request a corrected copy before filing season.

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A W-9 is a standard IRS form used by US entities to certify their taxpayer identification number (EIN) and tax classification. When a US client or platform asks for it, they need it to report payments to the IRS at year-end.

As the owner of a US LLC you fill it with your LLC's legal name, EIN, address, and check "LLC" under tax classification. Then hand it back to whoever asked — you don't send it to the IRS yourself.

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The key distinction is entity type:

• W-9 — for US entities. Your Wyoming or New Mexico LLC is a US entity, so this is the form you provide to US payers.
• W-8BEN-E — for foreign entities claiming treaty benefits or certifying foreign status. This is not your LLC; it's used by foreign companies dealing with US withholding.

If someone hands you a W-8BEN-E to fill out for your US LLC, push back — you need a W-9 instead.

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Annual LLC compliance for a foreign-owned single-member LLC covers:

• Registered Agent — a US address in your state of formation to receive legal notices on behalf of your LLC, renewed every year.
• State filing — annual report or statement of information filed with the state (requirements and fees vary by state).
• IRS Form 1120 — US Corporation Income Tax Return, even if your LLC had no US-source income.
• IRS Form 5472 — Reports transactions between the LLC and its foreign owner. Mandatory for any foreign-owned LLC.

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For a US LLC taxed as a corporation (the default for a foreign-owned single-member LLC), the standard deadline is April 15 for the prior tax year.

If you need more time, you can file an automatic extension that pushes the deadline to October 15. Note: the extension is for filing, not for paying — any tax owed is still due in April to avoid penalties and interest.

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Form 5472 is an IRS information return that documents transactions between a US LLC and its foreign owner (or other related foreign parties). It covers things like capital contributions, distributions, loans, and payments for services.

It's filed annually together with Form 1120 — even if your LLC had zero revenue. The penalty for a late, incomplete, or missing 5472 is $25,000 per form, and the IRS has been actively enforcing it since 2018.

This is not the form to skip or file late. If you're behind, get compliant before the IRS notices.

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