Form 7004

Form 7004 is a one-page IRS form that grants an automatic extension of time to file most business tax returns. Automatic means the IRS does not review or approve anything; if you file it on time with the right code, the extension simply applies. No signature and no explanation are required.

For a foreign-owned single-member LLC, Form 7004 extends the pro forma Form 1120 with its attached Form 5472. Filed by the April 15 deadline, it pushes the due date six months, to October 15. You use form code 12, the code for Form 1120, and the LLC's own name and EIN. Like the return itself, a foreign-owned disregarded entity sends Form 7004 by fax or mail to the IRS office in Ogden, Utah.

Multi-member LLCs use the same form with a different code. A partnership return on Form 1065 is due March 15, and Form 7004 with form code 09 extends it to September 15. The Schedule K-1s for the partners follow the same extended timeline, which is helpful when partners in different countries need extra time to gather numbers.

Two warnings keep founders out of trouble. First, Form 7004 extends the time to file, not the time to pay; if your company actually owes US tax, the payment is still due at the original deadline. Second, the extension only works if it is filed on time. Sending Form 7004 on April 20 does nothing, and a late Form 5472 carries a $25,000 penalty. If you are anywhere near the deadline and not ready, filing this simple form is the cheapest insurance available.