LLC annual report vs tax return: the state filing and Form 5472

LLC annual report vs tax return: the annual report goes to a state agency, and the tax return goes to the IRS. They are separate filings. A foreign-owned US disregarded entity that must file Form 5472 attaches it to a pro forma Form 1120, due by the Form 1120 due date including extensions (IRS: Instructions for Form 5472). Filing with a state is not filing with the IRS.

LLC annual report vs tax return: how the two filings differ

The two filings differ in who receives them, what you file, when it is due and what happens if you miss it. Here they are side by side:

	State filing	IRS filing
Who receives it	A state agency, such as the Wyoming Secretary of State (Wyoming Secretary of State: Business Entities FAQ) or the Texas Comptroller (Texas Comptroller: Franchise Tax)	The IRS (IRS: Instructions for Form 5472)
What you file	An annual report, an annual tax payment or a franchise tax report, depending on the state (see the four-state table below)	Form 5472 attached to a pro forma Form 1120, when the entity is a foreign-owned US disregarded entity required to file Form 5472 (IRS: Instructions for Form 5472)
What it does	Florida: updates or confirms the Division of Corporations' records (Florida Division of Corporations: Annual Report). Wyoming: the annual report and fee are required to remain in good standing (Wyoming Secretary of State: Business Entities FAQ)	Part V of Form 5472 covers certain transactions, including contributions to and distributions from the entity (IRS: Instructions for Form 5472)
When it is due	Varies by state (see the four-state table below)	By the Form 1120 due date, including extensions; Form 7004 requests more time (IRS: Instructions for Form 5472)
If missed	Depends on the state: a penalty, a late fee or administrative dissolution (see the four-state table below)	Not covered here; see the instructions (IRS: Instructions for Form 5472)

The two columns come from different agencies with different rules. Paying a state fee or a state tax does not file Form 5472 with the IRS (IRS: Instructions for Form 5472). Filing Form 5472 does not update a state's records either.

Chinese sellers often say 年报 (“annual report”) or 年审 (“annual review”) for the yearly state filing, and 报税 (“filing taxes”) for the IRS return. Treat these as informal labels, not legal terms. What matters is which agency receives each document and what its official English name is. Texas, for example, calls its yearly state filing a franchise tax report.

What the IRS expects from foreign-owned disregarded entities

The IRS expects a foreign-owned US disregarded entity that is required to file Form 5472 to attach it to a pro forma Form 1120 (IRS: Instructions for Form 5472). “Foreign-owned US disregarded entity” is the term the instructions (Rev. December 2024) use. Whether your LLC fits that term, and whether it must file, depends on its facts. Check the instructions or ask a qualified tax professional; see also whether a US LLC needs an accountant.

Two forms, filed together. Form 1120 is the US corporation income tax return. Here the instructions call for a “pro forma” Form 1120 with Form 5472 attached to it. Because Form 5472 is attached, the two forms are filed together (IRS: Instructions for Form 5472).

When it is due. Form 5472 and the pro forma Form 1120 are due by the due date of that Form 1120, including extensions. To get more time, an entity required to file Form 5472 can file Form 7004 by the regular return due date. Form 7004 is the form for requesting an extension of time to file (IRS: Instructions for Form 5472).

What it reports. Part V of Form 5472 covers certain transactions that were not already entered in Part IV of the form. The instructions name amounts paid or received in connection with the formation, dissolution, acquisition and disposition of the entity (setting it up, closing it, buying it or selling it). These include contributions to the entity and distributions from it (IRS: Instructions for Form 5472). More detail is in the Form 5472 guide for foreign-owned LLCs.

How four states handle the yearly filing

Wyoming and Florida require an annual report, Texas has an annual franchise tax report for entities required to file it, and Delaware LLCs pay an annual tax with no annual report. Each row below comes from the state agency's own page:

State	Yearly state requirement	Due-date rule	If late or unpaid	Agency page
Delaware	Annual tax of $400; no annual report for LLCs	Prior year's tax due on or before June 1	$200 penalty plus 1.5% interest per month on tax and penalty	Delaware Division of Corporations: LLC tax
Wyoming	Annual report and fee, to remain in good standing	First day of the anniversary month of registration or qualification	Administrative dissolution, meaning the state dissolves the entity, if the report is not filed within 60 days after the due date	Wyoming Secretary of State: Business Entities FAQ
Florida	Annual report each year, to keep active status	2026: by 11:59 p.m. EST on May 1, 2026, to avoid the late fee	2026: $400 late fee after that time; reports are due by the third Friday in September to avoid administrative dissolution	Florida Division of Corporations: Annual Report
Texas	Annual franchise tax report, if required under Texas rules; franchise tax is a privilege tax on taxable entities	May 15, or the next business day if May 15 falls on a weekend or holiday	$50 penalty on each report filed after the due date	Texas Comptroller: Franchise Tax

Delaware: an annual tax, not an annual report. The Delaware Division of Corporations says all LLCs formed or registered in Delaware must pay an annual tax of $400. It also says there is no requirement to file an annual report. The prior year's tax is due on or before June 1 (Delaware Division of Corporations: LLC tax). This is a Delaware charge under a Delaware rule. Paying it files nothing with the IRS.

Wyoming: tied to your anniversary month. The Wyoming Secretary of State requires each registered business entity to file an annual report and pay a fee to remain in good standing. For an LLC, the report is due on the first day of the anniversary month of its registration or qualification. The state's own example: a business that registers or qualifies on January 15 has an annual report due on January 1 of each year. For an LLC subject to it, Wyoming's annual license tax is $60 or two-tenths of one mill on the dollar ($.0002) of assets located and employed in Wyoming, whichever is greater (Wyoming Secretary of State: Business Entities FAQ).

Florida: one date for the fee, one for dissolution. Florida requires an annual report each year for the entity to keep “active status” with the Department of State. The report updates or confirms the Division of Corporations' records. For 2026, an LLC could file until 11:59 p.m. EST on May 1, 2026, before the late fee in the table applied (Florida Division of Corporations: Annual Report). The third Friday in September is Florida's own date for avoiding administrative dissolution.

Texas: a franchise tax report. The Texas Comptroller describes franchise tax as a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas (Texas Comptroller: Franchise Tax). Where an annual franchise tax report is required, it is due May 15, with the weekend and holiday rule shown in the table. Whether a particular LLC is a taxable entity, and whether it must file a report, depends on Texas rules. Check the Comptroller's page or ask a qualified tax professional.

Where BOI reporting fits

BOI reporting sits outside both filings: it is a FinCEN rule, separate from the state filing and the IRS return. BOI stands for beneficial ownership information. FinCEN's BOI page, describing its March 2025 interim final rule, says all entities created in the United States, including those previously known as “domestic reporting companies”, and their beneficial owners are now exempt (FinCEN: Beneficial Ownership Information Reporting). The same page limits reporting companies to entities formed under the law of a foreign country that have registered to do business in a US State or Tribal jurisdiction by filing a document with a secretary of state or a similar office.

That is the FinCEN wording this article relies on; it may have been updated since. FinCEN's page is the authority here, so read its current version before you rely on this summary. Background is in the BOI reporting 2026 guide.

Three places to check each year:

1. Read your state agency's page for the yearly requirement, the due-date rule and the late charge.
2. Read the Form 5472 instructions to see whether the IRS filing applies to your entity and when it is due, including extensions (IRS: Instructions for Form 5472).
3. Read FinCEN's BOI page to see which companies still report.

Quick answers

If my registered agent filed my annual report, are my US taxes done?

An annual report is a state filing, whoever files it. In Florida, it updates or confirms the Division of Corporations' records (Florida Division of Corporations: Annual Report). The IRS filing is separate. A foreign-owned US disregarded entity that must file Form 5472 attaches it to a pro forma Form 1120, due by the Form 1120 due date including extensions (IRS: Instructions for Form 5472). Whether that applies to your LLC depends on its facts.

Does a Delaware LLC file an annual report?

No. The Delaware Division of Corporations says there is no requirement for LLCs to file an annual report. LLCs formed or registered in Delaware pay an annual tax of $400. The prior year's tax is due on or before June 1. Failure to pay brings a $200 penalty plus 1.5% interest per month on tax and penalty (Delaware Division of Corporations: LLC tax). This Delaware tax is not an IRS filing.

What happens if I miss my state's annual report?

It depends on the state. Wyoming administratively dissolves an entity whose annual report is not filed within 60 days after the due date (Wyoming Secretary of State: Business Entities FAQ). For 2026, Florida set a $400 late fee for LLC annual reports filed after 11:59 p.m. EST on May 1, 2026 (Florida Division of Corporations: Annual Report). Texas assesses a $50 penalty on each franchise tax report filed after its due date (Texas Comptroller: Franchise Tax).

Is BOI reporting still required for a US-created LLC?

FinCEN's BOI page, describing its March 2025 interim final rule, says all entities created in the United States and their beneficial owners are now exempt. The page limits reporting companies to entities formed under a foreign country's law that registered to do business in a US State or Tribal jurisdiction (FinCEN: Beneficial Ownership Information Reporting). The rule may have changed since that version, so read FinCEN's current page before you rely on this answer.

Where Taxller fits

Money you put in or take out, and loans between you and the LLC, are kept separate in your books — the owner transactions that Form 5472 asks about. Our free tax calendar lists the federal deadlines for sellers and the state deadlines for 12 states, with weekend shifts applied and sources cited. Taxller never files or pays anything on your behalf: you or your accountant review and file.

Sources

• Instructions for Form 5472 (Rev. December 2024)
• Delaware Division of Corporations: Pay LLC/LP/GP Tax
• Business Entities FAQ - Wyoming Secretary of State
• Florida Division of Corporations: Annual Report
• Texas Comptroller: Franchise Tax
• FinCEN: Beneficial Ownership Information Reporting