1. Check the letter
Compare the business name and address on your EIN letter with your Articles of Organization. Banks and payment platforms compare them, and a name that doesn’t match exactly is one of the most common reasons an account application is refused. If something is wrong, fix the IRS record before you apply anywhere — see how to fix an EIN name mismatch.
2. Store it somewhere safe
The CP 575 itself says the IRS will send it only once. Keep the original and a scan in two places. If it’s lost, the IRS can confirm your EIN with a Letter 147C instead — see CP 575 vs. Letter 147C and our 147C request service.
3. Know when the number is ready
The IRS says you can use a new EIN immediately for most business needs, such as opening a bank account. Allow up to 2 weeks before it works for TIN matching (which some payers use to check it), filing a return electronically or making electronic tax deposits.
4. Give payers a W-8, not a W-9
Banks, marketplaces and payment platforms will ask for a tax form. A single-member LLC owned by a non-U.S. person is a disregarded entity, and the IRS Form W-9 instructions say the foreign owner completes an appropriate Form W-8 instead of a W-9 — even if the owner has a U.S. tax number. For an individual owner that’s usually Form W-8BEN; confirm which W-8 fits your situation with a tax professional.
5. File Form 5472 every year
This is the obligation most foreign owners miss. The IRS treats a U.S. LLC wholly owned by one foreign person as a corporation for this purpose, so each year it must file Form 5472 attached to a pro forma Form 1120 — even if the LLC had no income.
- What it reports. Transactions between the LLC and its owner or other related parties — including the money you put into the LLC and take out of it.
- When. By the Form 1120 due date: the 15th day of the 4th month after the tax year ends, which is April 15 for a calendar-year LLC. An extension is requested on Form 7004 by that date.
- How. The pro forma 1120 needs only the LLC’s name, address and a few items, with “Foreign-owned U.S. DE” written across the top. The IRS doesn’t accept it electronically: it is faxed to 855-887-7737 or mailed to the address in the Form 5472 instructions.
- Why it matters. The IRS assesses a ,000 penalty for failing to file Form 5472 when due. Keeping records of these transactions is part of the requirement too.
We don’t prepare tax filings. A tax professional who works with foreign-owned LLCs can handle Form 5472 for you, and your state may have its own yearly report or tax — Delaware’s is covered in our Delaware LLC guide.
6. Keep the IRS record current
If the person who controls the LLC changes, report the new responsible party on Form 8822-B within 60 days. The same form updates the business’s mailing address or location. The IRS says it generally takes 4 to 6 weeks to process. Who counts as the responsible party is explained in our responsible party guide.
7. Beneficial ownership (BOI) reports
Under FinCEN’s current rules, companies created in the United States — including your LLC — don’t file beneficial ownership reports. Companies formed abroad and registered to do business in a U.S. state still must, within 30 calendar days of registering. Check FinCEN’s page if your structure includes a foreign company.
8. Online access to your IRS account
The IRS Business Tax Account lets some businesses download their EIN notice online. Access currently depends on an individual verifying their identity with an SSN or ITIN, so owners without either likely can’t use it yet. Keep your paper letters.
If you close the LLC
The IRS can’t cancel an EIN, but it can deactivate the business account. File all outstanding returns and pay any taxes owed, then send the IRS a letter with the EIN, the legal name and address, and the reason, plus a copy of the EIN notice if you have it. The addresses are on the IRS page linked below.