Do I need to file taxes if I had no income?

Q: Do I need to file taxes if I had no income?

Zero-revenue foreign-owned LLCs and IRS requirements.

Yes — you likely still need to file even if your foreign-owned U.S. LLC had zero revenue.

Why zero income doesn't mean zero filing

A U.S. LLC owned by a foreign person is subject to information reporting requirements with the IRS, regardless of whether the LLC earned money.

Single-member foreign-owned LLC — Form 5472 + pro-forma Form 1120
Multi-member foreign-owned LLC — Form 1065 + Schedules K-1/K-2

These forms tell the IRS about the LLC's ownership and any reportable transactions with foreign related parties — even when income is $0.

Penalties for not filing

The IRS imposes significant penalties for late or missing Form 5472 filings — $25,000 per form per year in many cases. Filing a zero-income return is far cheaper than paying penalties.

What to order on OtoCo

Open the Tax Center tab and order:

Foreign-Owned Single-Member LLC Tax Filing — $499/yr
Foreign-Owned Multi-Member LLC Tax Filing — $899/yr

This is not the same as franchise tax

Delaware/Wyoming franchise tax for Series LLCs is handled by the OtoCo Master LLC. Federal IRS filings are your separate compliance obligation. See Delaware franchise tax.

Next: Tax filings overview · Tax Center