How to Set Up a LLC in USA for Non-Residents + US Bank Account (all sources shared)

One quick update.

You need to file forms 5472 and 1120 for all foreign-owned single member LLCs.

We didn't do this for 2 years now :)

We called an accountant and he said: "You have to pay $210 per month for each month you are late, So you need to pay 1 year and Accountant can wave 1 year "


This is for federal taxes even though I haven't done any business or made any transaction using the LLC's bank account.


Lesson learned the hard way but no problem.


@Heiko my beloved dear ser admin add this to the main Post.

Dont forget to fill out forms 5472 and 1120


And THIS IS NOT A FINANCIAL ADVICE. I JUST WANTED TO SHARE HOW YOU CAN SET UP A LLC. FOR TAXES YOU NEED TO TALK TO ACCOUNTANTS!

I tried to warn since many pages.

Why didn't your service agent you used to form the company inform you about form 5472?

Didn't you say it's gonna be cheap. o_O
 
This thread is full of contradictions.
As far as my research has taken , for non resident alien who makes money strictly outside of US, there is 0 tax. But on the other hand, you have to fill out the forms still. At this point I see the need for professional , it would be great to have some genuine suggestions for this purpose and estimate on how much members pay for this each year.

If you make money from US citizens, you pay federal and possible state tax which can amount to 31-40 %. ( my understanding)

You are half correct. First advice is to ignore the first post here in the sticky.

You don't have to pay automatically taxes if you sell to US based customers but it is still best to be avoided because the laws regarding it aren't very clear. You just need a presence in the US and every sale to an US based customer is taxable in the US. What is a presence? For now, it is not just a bank account,... but definitely if you have anything in the US, even a website hosted in the US might be considered presence. If you sell by Amazon and Amazon puts your physical goods (and maybe even digital products in the "cloud" within the US) into an US warehouse, you will be liable for tax in the US. Only if you can absolutely eliminate everything with a connection to the US, sales to US based customers will be tax free with a foreigner owned disregarded pass through entity. Did I say tax free? Well, it is an pass through entity, meaning you would be personal tax liable in your home country anyway.

Good luck.
 
I tried to warn since many pages.

Why didn't your service agent you used to form the company inform you about form 5472?

Didn't you say it's gonna be cheap. o_O

Dude thats not the agents duty.

Why do you like to shitpost lol

Thats the duty of the CPA.
 
Dude thats not the agents duty.

Why do you like to shitpost lol

Thats the duty of the CPA.

You don't need a CPA for a foreign controlled LLC, just a good formation agent who indeed notifies you... wait are you now suggesting a CPA for your cheap setup? Wow, so cheap.

I consider your first post "shit posting". It has crucial info missing which will come and hurt people as you have self experienced now.
 
You don't need a CPA for a foreign controlled LLC, just a good formation agent who indeed notifies you... wait are you now suggesting a CPA for your cheap setup? Wow, so cheap.

I consider your first post "shit posting". It has crucial info missing which will come and hurt people as you have self experienced now.

I dont get why dont you make your own post and add some value to my “shitpost” or better make a totally new thread and share some value.

Instead you come here and act like a pro
 
Guys.. And Orionace directly..

First things first. Are you guys making $10k/mo+ ?

If not, then you do not need any of this stuff in 99% of cases.

What's the biggest problems in your business?

Is the problem that you are earning too much money and your tax bill is too high so you need a better corporate structure?

Or, is the problem you need to make money.

So in your situation, Orionace.

How many clients do you have? How much money are you making per month? What the biggest thing stopping you scaling right now?

Will an LLC actually solve any of your problems?

No.

Now, you say you "want" to own a digital marketing company. So I assume you aren't actively making money.

You also say "sell services to customers", so I assume you're going to sell something to people, and not do affiliate marketing where you'll get paid from companies.

That means your first problem is going to be :-

"How do I get paid from my first client?"

You're in Africa, so you can take payments with paypal.

Problem solved. You probably already have a paypal account. If not, get one.

Problem 2:-

"How do I get my first client?"

And you take it from there.

Now, when you're making, let's say even $5k per month. You've got some cash rolling in. I guarantee you won't be coming here for advice if you're making even $5k/mo.

I wouldn't dream of asking for tax/accounting/corporate structure advice on blackhatworld.

Why?

Because I can just literally do this :-

Google "tax cpa usa for foreigners"

Let's see what we've got.

https://www.ustaxhelp.com/
This guy looks good to me. "Theodore Kleinman CPA".

https://www.ustaxhelp.com/about/
https://www.linkedin.com/in/theodore-kleinman-cpa-9a922628/
404 connections.. Was a cfo for pacific coast environmental inc from 1989 to 2005

Financial analyst for armaco 1979 to 1983.


View attachment 217298

Seems to be him..

https://www.ustaxhelp.com/get-in-touch/
"Address: 195 Scenic Ridge Ct, Redmond, Oregon 97756-7417"

So, 5 mins of due diligence. Looks legit to me.

Next..


https://www.ustaxhelp.com/fee-structure/

"Tax consulting"

He charges $475 per hour.

That is PEANUTS.

If you're making $5k/mo, you're going to pay $475 for an hour's chat with him.

You can email him first and say "Hey, I'm such and such, this is what I want to do and find out about. Is this something you can help with? If so, please send me the invoice for a 1 hour consultation call."

He only accepts payment from a US account. You can always pay via wise, or find someone else.

There are MANY qualified CPAs out there who can help. This is just someone I saw with a 30 second google.

Now, do you think at the end of the call you'd still be confused? Would you need clarification from unqualified random people on a marketing forum?

Or would you have someone who can not only set it all up, but give you the advice you need to choose the correct setup.

Just go and find a CPA. Ask them everything you need. I don't use any cheap LLC setup sites because they don't give you legit advice. They just want your money and they'll setup whatever you ask for. Your problem. Get a REAL CPA.

Imagine when you're making $10k/mo..

You can literally just go and book a call with anyone you want and ask them whatever you want.

And $10k/mo is VERY small, but even at that level you can seek professional advice easily.

For getting started.. Just take paypal, wise payments. Just keep it simple. Focus on getting some clients or making money first.

I promise, once you're making real money, none of this stuff will be a mystery. I don't handle ANY of this stuff. I hire others to do it for me. I just know what I know from conversations with them.
man you're a living legend, wow!!
You really provided an astonishing contribution not only to the discussion, but how to handle business in general
 
Hello, I have my LLC in NewMexico and I share the costs

Filling - $0 (Using incfile, It took 5 days)
State Fee - $50 (Using incfile)
Business Address - $99/y - $25/onetime notary fee (Using ipostal1)
Phone number - $1/m (Using telnyx)
EIN - $25 (Using fiverr, it took 3 day)

I don't go into US-SourceIncome (Source: https://startfleet.io/guide/us-llc-for-non-residents-guide#toc-us-source-income-vs-foreign-source-income-2)
so I am only required to submit form 5472 and 1120

EMI (BankAccount)
i use
- Mercury
- Globalfy
- Novel
- Wise
Hey i am interested to create verified llc or 10dlc service is it available?
 
Hey i am interested to create verified llc or 10dlc service is it available?
Where do you ordered the LLC service please share, your costs are for non US residents very good cheap!
Do they help you with an US bank account or for the first open wise account , make money , then open US bank account I would say or use Payoneer.

I'm living in Europe most UK company services (Ltd./ or Corp.) I think US clients knowing what an Ltd company is, they have 3-5x time shigher prices for non UK residents what a shame, ooften US Corp. agents too. Why I should pay 3-5x times higher fees as an non US resident when the all the paper work is the same?
 
I wish I knew that last year! Spent $500 for the company + other fees for everything else (bank, phone number, etc). Thank you so much for sharing that option!

I hope someone will do the same for a Belize (or similar) business formation, in the past this was so easy to find, but now finding a good, cheap and reliable solution is pretty hard.
 
I am using wyomingllcattorney to open an LLC in Wyoming. Should I fill out my real name on the application form?
 
You can use your real name like Marcus Smith Digital or you can use a brand name, when using a brand name use the same name as your domain name (it's not a must) , but always check if another has the same name as trademark in USA !
 
You can use your real name like Marcus Smith Digital or you can use a brand name, when using a brand name use the same name as your domain name (it's not a must) , but always check if another has the same name as trademark in USA !
Thank you Marco, however there is a part of the application form ask for personal information like first name, last name , address, etc., do I need to fill in real information?
 
Thank you Marco, however there is a part of the application form ask for personal information like first name, last name , address, etc., do I need to fill in real information?
Yes the state needs information about the company owner and partners, so yes you need to fill out this information.
Same with UK corporation agents I'm living in europe (germany) but for non UK residents these company agents charging more 3-5x the standard price, the same with US company agents, I wonder it's the same paperwork, it's a rip of scheme.

For bank account at the start I would use payoneer or wise, later when you have som emoney then open a US bank account.
For me in europe an UK Limited company is more easy to use as an company with bank account in oversea region. (usa) You can give the UK company who is a Limit Corporation (Ltd) the same legal form as it is in USA = Inc.

I advise you to order an secretary agent who fill out forms for the fiscal tax office.

On fiverr there are some freelancers who offer company registering/ foundation service.
 
What bank can open ONLY online for Non Residents ?
I don’t consider novel, mercury, globalfy
 
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