Single-member LLC

A one-owner LLC is normally reported on Schedule C of the owner's own return.

Key dates

April 15, 2027: owner's return with Schedule C, and Form 5472 if the owner is foreign
October 15, 2027: deadline with an extension

A single-member LLC keeps liability separate while the income is usually taxed on your own return.
If the owner is not a U.S. citizen or resident, the LLC must file Form 5472 with a pro forma Form 1120 every year; the penalty for missing it starts at $25,000.
Keeping business and personal bank accounts separate protects the LLC's liability shield.

Annual income tax return for a C corporation.

Annual return for an S corporation, with a Schedule K-1 for each shareholder.

Annual return for partnerships and multi-member LLCs, with a Schedule K-1 for each partner.

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