tax-accounting-LLC-USA

Single-Director and Foreign-Owned LLC Accounting: Rules, Forms, and 2025 Deadlines

If you operate a single-director LLC in the US, or a foreign-owned LLC, proper accounting is non-negotiable: it determines tax obligations, penalties, and bankability. Here you'll find the 2025 rules, the forms you need to file, and best practices for staying compliant and protecting your margin.

I.R.S o Internal Revenue Service, è l' equivalente americano dell' agenzia delle entrate Italiana. Riscuote le tasse. IRS richiede per le LLC possedute da stranieri non residenti una semplice ma obbligatoria contabilità annuale. Abbiamo visto come per aprire una LLC americana serve davvero poco , ma per renderla funzionale ed aprire conti occorre munirsi dell' EIN, il codice fiscale o partita IVA americana. Ebbene grazie a questo codice usato per aprire conti, l' IRS sa sempre quali sono i movimenti bancari "in Vivo" del correntista.

 Accounting obligations for American society

If you are a foreigner who holds an American LLC , understanding the accounting of American LLC is essential to remain in compliance with the tax laws of the United States. The LLCs are flexible structures, but require accurate management of financial documents and tax declarations.

Per questioni legali causa normative anti AML ( Anti Money Laundering) e per la lotta al terrorismo ( FinCen), l' IRS ha l' obbligo di chiedere formalmente una contabilità semplice alle LLC detenute da stranieri non residenti , attraverso i formulari 5472 e 1120 . Entro marzo di ogni anno fiscale. Il non emetterli con un anticipo di 20 giorni dalla data di scadenza provoca una multa di 10.000 USD minimo, e l' arresto degli eventuali manager o membri se non provvede nel corso dei successivi 3 mesi.

It is therefore of vital importance to know that with the US taxman, which does not ask for anything in exchange and not even the payment of taxes, providing documentary requests is an essential duty. Therefore, in order to avoid errors in filling in, you will have to rely on an expert CPA who knows how to fill in the forms in order to make you 100% tax exempt and in order not to receive fines for typing errors.

We remind you that the American taxman has direct access to the accounts and any amount equal to the fines to be paid are automatically subtracted from the account holder. It is therefore worthwhile to take advantage of a proven American CPA for annual accounting. At Studio Panama Italia we offer accounting through our own American licensed CPA in Miami.

Accounting obligations for American LLC

The American LLC accounting for foreigners includes:

  • Tenuta of the registers : Keep detailed registers of all transactions, income and expenses.
  • Finance separation : use a separate corporate bank account to avoid confusions between personal and corporate funds.
  • Financial reports : prepares financial statements, economic accounts and cash flows to monitor the financial health of the LLC.

Tax obligations

American LLC accounting also requires:

  • TAX DECLARATION : Even if the LLC do not pay federal taxes directly, the profits must be reported on the tax return (form 1040-nr for foreigners).
  • Estimated taxes : if the LLC generates income, you may have to pay esteemed quarterly taxes.
  • State of residence : some states require separate tax returns, therefore check local regulations.
  • Per l'imposta sul reddito, di default è "disregarded entity": niente dichiarazione separata; reddito e costi vanno su Schedule C del Form 1040 del proprietario. Puoi optare per tassazione societaria con Form 8832.
  • A single-manager, foreign-owned LLC is disregarded for income purposes, but for reporting purposes, it is treated as a corporation under §6038A: Form 5472 attached to a pro forma Form 1120 is required, even if no tax is due. The basic penalty is $25,000 for failure to file or for inadequate accounting records.
  • Tenuta libri "audit-ready": piano dei conti, prima nota, riconciliazioni bancarie, fatture, contratti intra-group. L'IRS richiede registri sufficienti a provare correttezza della dichiarazione e delle transazioni con parti correlate (per 5472)

In addition to opening your LLC, you will probably be interested in creating a life insurance policy on your taxation, taking up a second tax residence, in a country with territorial taxation, such as a residence in Panama or a residence in Paraguay

Payments to suppliers and payroll: practical safeguards

US Contractor: Collect W-9; if >$600, issue 1099-NEC by 1/31.

Employees: Payroll requirements (941, W-2) if any; does not apply to pure LLCs without personnel

When is the 1099-NEC deadline?

La data per l' invio della 1099-NEC è il 31 Gennaio

BE-12C Statistical Analysis Form LLC

Studiopanamaitalia-BEA.gov-BE-12C

From June 2023 it becomes mandatory to send the BE-12C. What is the BE-12C ?

Il BE-12C è un formulario obbligatorio ma discreto per la contabilità LLC Americane, richiesto dall' IRS e dal suo braccio BEA , ovvero il Dipartimento di Commercio degli Stati Uniti. Il BE-12C è richiesto per tutte la contabilità LLC americane monodirettori straniere. Ogni giugno, ogni 5 anni. La data obbligatoria prossima è 15 giugno 2023 poi 15 Giugno 2028 e 15 giugno 2033 . La multa per non inviarla via FAX è di 45.000 USD. Non importa quanti anni o mesi abbia la LLC di attività, quello che importa è la obbligatorietà della stessa procedura. È solo per fini statistici. I dati rimangono totalmente privati.

Il BE-12C viene richiesto dal Bureau Of Economic Analysis del Governo Federale degli Stati Uniti d' America.

Potete contattarci per la emissione di una copia certificata di BE-12C entro il mese di maggio o massimo entro i primi 10 giorni di giugno . Il costo di produzione e invio è di EUR 950. Vi chiediamo l' invio del pagamento e richiesta almeno 10 giorni prima dello scadere della data . Ogni 5 anni.

The BE-12C document to be produced can be found at this LINK

According to what was declared by the offices in charge, there are various fines and possibilities:

*Omissione a tale procedura porta a una ammenda automatica di USD 45.000 , raddoppia ogni mese di ritardo. Se la LLC ha inoltre un ritardo o non ha onorato il servizio di Tax Remittance 1120 / 5472, la persona fisica , beneficiario finale della LLC può non essere ammesso all' entrata negli Stati Uniti o non poter beneficiare più dell' ottenimento ESTA .

American LLC taxation: complete guide Forms 1040 and 1099-K

If you have an American LLC , understanding tax obligations is essential to avoid sanctions and maximize the benefits. Two fundamental documents for the taxation of LLC in the United States are Form 1040 and Form 1099-K . In this guide, we explain everything you need to know about these modules and how to manage them correctly.

Cos'è il Form 1040?

Form 1040 is the individual tax return in the United States. If your LLC is taxed as Disregarded entity (unipersonal) or as partnership (partnerships), the profits and losses of the LLC are reported on the owner or shareholders of the owner 1040.

How to fill in form 1040 for a LLC

  1. LLC income : Insert the net income of the LLC in the appropriate form (for example, CA Schedules for the Unipersonal LLC).
  2. Deductions : you can deduct business expenses, such as rent, salaries and operating costs.
  3. Estimated taxes : if your LLC generates income, you may have to pay trimesterly estimated taxes.

Cos'è il Form 1099-K?

Form 1099-K is a form used to report commercial transactions made through electronic payment platforms (such as PayPal, Stripe or Square) or credit cards. If your LLC receives electronic payments greater than $ 20,000 and more than 200 transactions in one year, the payment platform is required to send you a 1099-K form. ( for example stripe )

How to manage form 1099-K for an LLC

  1. Reconciliation : compare the total transactions shown on form 1099-K with the accounting records of your LLC.
  2. Income declaration : include the income shown on Form 1099-K in your Form 1040 or in the corporate tax return.
  3. Keep the registers : retains copies of the 1099-K form and accounting registers for at least 3 years.

Tips to manage the taxation of your LLC

  1. Take up an accountant : a tax expert can help you correctly fill in Form 1040 and Form 1099-K.
  2. Use accounting software : tools such as Quickbooks or Xero can simplify the management of corporate finances.
  3. Ecco i link ufficiali alle spiegazioni governative dei moduli Form 1040 e Form 1099-K, forniti dall'Internal Revenue Service (IRS), l'agenzia fiscale degli Stati Uniti:


     Form 1040: US Individual income tax return

    • Official link : IRS Form 1040 Instructions
    • Descrizione: Questa pagina ufficiale dell'IRS fornisce istruzioni dettagliate su come compilare il Form 1040, inclusi i requisiti, le scadenze e le sezioni specifiche per i redditi da LLC.

     Form 1099-K: Payment Card and Third-Party Network Transactions

    • Official link : IRS Form 1099-K Instructions
    • Description : Here you will find official information on Form 1099-K , including the criteria for reporting transactions, how to manage the form and how to include it in the tax return.

     IRS Small Business and Self-Employed Tax Center

    • Official link : IRS Small Business Tax Center
    • Description : This portal is dedicated to small businesses and self -employed workers. 1040 and 1099-K forms .

     Irs Guide to llc taxation

    • Official link : IRS LLC Taxation Guide
    • Description : a complete guide on how LLCs are taxed at the federal level, with details on the necessary modules and the tax options available.

    Tax advantages of American LLC

    • Pass-Through taxation : LLCs are generally taxed as Pass-Through Entity, which means that profits are taxed only on an individual level, avoiding double taxation.
    • Flexibility : you can choose how to tax your LLC (Disregarded Entity, Partnership, S-body or C-Corp) according to your needs.
    • Deductions : LLC can benefit from numerous tax deductions, reducing taxable income. Plan the estimated taxes : avoid penalties by paying the estimated taxes in a timely manner

FinCen for LLC USA

Only once within 6 months from the opening of the LLC, for questions simply relating to due diligence in knowing who operates and manages the LLC to be in line with the laws already present throughout the world on corporate transparency, you are required to issue a simple information at FinCen. You can do it yourself at the relevant website or we can do it for you by paying our fee.