Forming a US Company as an International Founder: The Complete Tax Checklist

You've decided to form a US company. Congratulations! Here's the complete checklist of IRS and FinCEN forms you'll encounter in your first year.

Step 1: Form your entity

This isn't an IRS form — you form your LLC or corporation with a state (Wyoming, Delaware, and Florida are popular). This typically involves:

• •Filing Articles of Organization (LLC) or Certificate of Incorporation (Corporation)
• •Appointing a registered agent
• •Cost: $100-500 depending on the state

Step 2: Get your EIN (Form SS-4)

Within days of formation, apply for your EIN. You'll need it for everything else. International founders typically apply by fax or phone.

Timeline: Same day (phone) to 4 business days (fax)

Step 3: File FinCEN BOI Report

Within 30 days of formation (for entities formed in 2025+), file your Beneficial Ownership Information report with FinCEN. This is a new requirement.

Timeline: Within 30 days of formation

Step 4: Elect tax classification (Form 8832) — if needed

If you want your LLC taxed as a corporation, file Form 8832. Do this early — the election can be retroactive up to 75 days.

Timeline: Within 75 days of formation for retroactive election

Step 5: Open a bank account

With your EIN, formation documents, and operating agreement, open a US business bank account. Mercury, Relay, and traditional banks all work.

Step 6: Annual tax filing

At the end of your first tax year, file the appropriate return:

• •Single-member LLC (disregarded): Form 1120 + Form 5472 (if foreign-owned)
• •LLC taxed as corporation: Form 1120 + Form 5472 (if foreign-owned)
• •Multi-member LLC: Form 1065 + Schedule K-1s
• •Individual return (if needed): Form 1040-NR

Step 7: Extensions if needed

Can't file on time? File Form 7004 (business) or Form 4868 (individual) before the deadline.

Annual ongoing obligations

Every year, you'll need to:

• •File your business tax return (Form 1120 or 1065)

• •File Form 5472 if foreign-owned

• •File your state annual report (not an IRS form)

• •Update FinCEN BOI if ownership changes

• •File your personal return (Form 1040-NR) if you have US-source income