US Tax Filing Deadlines for Businesses: LLCs, Corporations, and Foreign Owners

Learn the essential US tax filing deadlines every business owner must know — including LLCs, C-corps, and foreign-owned entities. Avoid costly penalties like FBAR and Form 5472!

“I started my business last year. There was no revenue, no operations, and certainly no profits — so I assumed I didn’t need to file taxes.”
If this sounds familiar, you’re not alone. We hear versions of this every week during tax season.

So, here’s a clear, no-fluff guide on what you need to file, when to file it, and how to avoid massive penalties — even if your business didn’t make a single dollar.

But first: Do You Have to File a Tax Return with No Revenue?

Yes.
If your U.S. business legally existed during the year — whether or not it made money — you are required to file certain federal and state tax forms. Filing does not always mean you’ll pay taxes, but non-filing can result in severe penalties.

C-Corporation Tax Filing Requirements

If your business is registered as a C-corporation, here are the federal and state forms you may be required to file:

• Form 1120 — U.S. Corporation Income Tax Return
• State Corporate Tax Return — Varies by state
• State Annual Report — Most states require annual report and franchise tax payment
• Form 5472 — Required if there are foreign shareholders
• Form 5471 — Required if your U.S. corporation owns a foreign subsidiary
• FBAR (FinCEN Form 114)—Required if your company had >$10,000 in foreign bank accounts at any time in the year

Federal Filing Deadline: April 15 (or the 15th day of the fourth month after your fiscal year ends)
Extension Available: Yes, using Form 7004 (6 months) to be filed by original due date

Multi-Member LLC (Partnership) Tax Filing Requirements

If your LLC has more than one member, it’s taxed as a partnership by default:

• Form 1065 — U.S. Return of Partnership Income
• Schedule K-1 (for each partner)—Shows each member’s share of income/loss
• State Partnership Return — Required in many states
• State Annual Report — Filing frequency and fees vary

Federal Filing Deadline: March 15 (or the 15th day of the third month after your fiscal year ends)
Extension Available: Yes, using Form 7004 (6 months) to be filed by original due date

Single-Member LLC Tax Filing Requirements

Filing obligations for single-member LLCs differ based on ownership:

1. U.S.-Based Owner

• Form 1040 + Schedule C—Report business income/loss as a sole proprietorship
• State Annual Report — Depending on the state

2. Foreign Owner (Non-U.S. Resident)

• Pro Forma Form 1120 — Zero-income declaration
• Form 5472 — Required for transactions with the foreign owner
• State Annual Report — Still required even with no U.S. presence

Federal Filing Deadline: April 15 (or the 15th day of the fourth month after year-end)
🗓️ Extension Available: Yes, using Form 7004 (6 months) to be filed by original due date

Major Penalties That Can Wipe Out Your Bank Account

Here are the top compliance errors with life-changing financial consequences:

• FBAR (Foreign Bank Accounts): Penalties start at $100,000+ for non-filing or incorrect filing
• Form 5472 (Foreign Shareholders): Penalties start at $25,000 per shareholder, per year
• Form 5471 (Foreign Subsidiaries): Penalty: $10,000 per subsidiary, per year

These penalties apply even if you had no revenue, no expenses, and no transactions. Filing something is often better than filing nothing.

Pro Tip: Automate Your U.S. Business Tax Deadlines

Don’t rely on memory. As soon as your business is incorporated:

✅ Add all federal and state filing deadlines to your calendar
✅ Set reminders at least 30 days in advance
✅ Take active actions

Conclusion: Stay Compliant and Save Yourself from Penalties

The U.S. tax system may feel intimidating, but staying compliant is simpler when you know what to file and when. Whether you run a startup, an LLC, or a holding company, being proactive with your deadlines can save you thousands in penalties and endless stress.

Have a question about your specific situation? Ledgerline can help you by understanding your scenario and preparing a compliance calendar for you.