Stripe Atlas helps you form a U.S. LLC, but it does not file your annual IRS compliance forms. As a non-U.S. founder with a Stripe Atlas LLC, you must file Form 5472 and pro-forma Form 1120 every year by April 15.
Stripe Atlas is one of the most popular ways for non-U.S. founders to form a U.S. LLC quickly and affordably. But many founders who form through Stripe Atlas are surprised to discover that Stripe does not handle their annual IRS compliance — specifically, the Form 5472 and pro-forma Form 1120 that are required for foreign-owned single-member LLCs. This guide explains what you need to file each year if you formed your LLC through Stripe Atlas.
Stripe Atlas helps you incorporate a U.S. LLC or C-corporation, typically in Delaware. The service includes LLC formation documents, registered agent service, EIN application assistance, and basic Stripe account setup. What Stripe Atlas does NOT do: it does not prepare or file your annual IRS information returns. Once your LLC is formed, you are solely responsible for ongoing compliance — including the Form 5472 obligation that applies to non-U.S. founders.
The vast majority of non-U.S. founders who form through Stripe Atlas will have a Form 5472 filing obligation. Here is why: if you are not a U.S. citizen or U.S. resident and you own 100% of the LLC, your LLC is a 25% or more foreign-owned U.S. entity. If your LLC is structured as a single-member LLC (the default Stripe Atlas structure for individuals), it is treated as a disregarded entity. And if you have had any reportable transactions — including contributing money to your LLC or withdrawing money from it — you are required to file Form 5472 with an attached pro-forma Form 1120. Most founders who actively use their LLC have had at least one such transaction.
Each year, by April 15 (or October 15 with an extension), you must file Form 5472 and a pro-forma Form 1120 with the IRS. This applies even if: your LLC had no revenue, your LLC only had expenses and no income, you live in a country with a U.S. tax treaty, or your LLC is inactive but has not been formally dissolved. The penalty for failing to file is $25,000 per form. This is not an income tax — it is an information reporting obligation.
SaaS founders: Even if your product has no U.S. customers, if you run your SaaS through a Stripe Atlas LLC and receive Stripe payouts into the LLC account, those are reportable transactions. E-commerce sellers: If you sell on Amazon or Shopify through your Stripe Atlas LLC and collect revenue through it, you have reportable transactions. Founders with no revenue yet: If your LLC is pre-revenue but you funded it with personal capital (even a small amount), that capital contribution counts as a reportable transaction. Inactive LLCs: If your LLC exists but has no activity and you have made no transactions since formation, you may not have a filing obligation — but verify with a tax professional.
You have three options: hire a U.S. CPA (typically $500-$2,000), file manually using IRS instructions (complex, high error risk), or use an automated service like ComplyWise ($29.99). ComplyWise was built specifically for non-U.S. founders in exactly this situation — a Delaware single-member LLC formed through Stripe Atlas, Firstbase, Doola, or similar platforms. You complete a guided questionnaire in 2-7 minutes; the system generates your Form 5472 and pro-forma Form 1120 and submits them to the IRS. You receive mailed confirmation.
Does Stripe Atlas file Form 5472 for me?
No. Stripe Atlas helps you form your LLC but does not handle annual IRS compliance filings. You are responsible for filing Form 5472 and pro-forma Form 1120 each year. Stripe does not send reminders for this obligation.
My Stripe Atlas LLC had no revenue this year. Do I still need to file Form 5472?
Possibly. If you made any transactions with the LLC — including contributing money to open a bank account, paying LLC expenses, or receiving any revenue — those are reportable transactions and Form 5472 is required. If your LLC truly had zero transactions of any kind since formation, consult a tax professional about your specific situation.
I have a Stripe Atlas C-corporation, not an LLC. Does Form 5472 apply?
Yes, but differently. A 25% or more foreign-owned U.S. C-corporation is also required to file Form 5472. The pro-forma Form 1120 is not required for C-corps (they file a regular Form 1120 instead). The C-corp Form 5472 situation is more complex — consider consulting a CPA.
How do I know my LLC's EIN to file Form 5472?
Stripe Atlas provides your EIN as part of the formation process. Check your Stripe Atlas dashboard or the IRS EIN confirmation letter you received when your LLC was formed. Your EIN is formatted XX-XXXXXXX.
I missed last year's Form 5472 deadline. What should I do?
File as soon as possible. The IRS may assess the $25,000 penalty for late filing, but in some cases it can be abated if you show reasonable cause. Contact a U.S. CPA or tax attorney if you have received an IRS notice, as penalty abatement requests require professional handling.
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