Canadian Accountant vs. Form5472.online: Which Should You Use for Form 5472?
FILING GUIDES · CANADA
By Arik Rozen, CPA, MBA · Virginia License #025991 · Updated September 2026
SHORT ANSWER Your Canadian accountant is likely not licensed to prepare U.S. federal tax returns — and Form 5472 is a U.S. IRS filing, not a CRA filing. Form5472.online is staffed by a U.S.-licensed CPA who specializes in exactly this filing, at a flat fee of $399, with both required documents always included. For most Canadian founders, it's the faster, safer, and more affordable choice.
IN THIS GUIDE
The core problem with using a Canadian accountant
What Form5472.online does differently
Side-by-side comparison
When a Canadian CPA actually makes sense
Verdict
Frequently asked questions
If you're a Canadian entrepreneur with a U.S. LLC, your first instinct is probably to call your accountant. That makes sense for your T1 return, your GST/HST filings, and your Canadian business structure. But Form 5472 is something entirely different — it's a U.S. IRS information return, and the rules around who can prepare it, what gets filed, and what happens if it's wrong are completely separate from anything your Canadian CPA handles.
This comparison breaks down what you actually need and who's best positioned to deliver it.
The Core Problem with Using a Canadian Accountant
Canadian CPAs are designated under CPA Canada and are licensed to practice in their province. That license covers Canadian tax law — T1 returns, corporate T2 returns, GST/HST, and provincial obligations. It does not automatically authorize them to prepare U.S. federal tax returns.
To prepare U.S. tax returns for compensation, a person must be a U.S.-licensed CPA, enrolled agent, or tax attorney with U.S. authorization. The vast majority of Canadian accountants hold none of these credentials.
Beyond the licensing issue, Form 5472 is a niche filing. Many U.S. CPAs aren't familiar with it either — it applies specifically to foreign-owned domestic disregarded entities, a filing category that's rarely seen in general practice. Handing it to someone unfamiliar with the form is how the two-document requirement (Form 5472 + pro forma Form 1120) gets missed, which triggers the same $25,000 IRS penalty as not filing at all.
Common mistake: A Canadian accountant files a T1 return that includes the LLC's income as foreign income. This satisfies the CRA — but it does nothing for the IRS. The Form 5472 obligation is completely separate and remains unfiled.
What Form5472.online Does Differently
Form5472.online was built specifically for foreign-owned U.S. LLCs — the exact situation Canadian founders are in. Every filing is prepared by Arik Rozen, CPA, MBA (Virginia License #025991), a U.S.-licensed CPA with experience filing this specific form across 198 countries.
What's included in the $399 flat fee:
Form 5472 — the information return reporting all transactions between you and your LLC
Pro forma Form 1120 — the required transmittal document that Form 5472 must be attached to
IRS submission — the completed package is submitted by fax or certified mail on your behalf
No surprises — flat fee, no hourly billing, no add-ons for basic questions
This is the complete filing. Nothing is missing. There are no hidden steps left for you to handle.
Side-by-Side Comparison
Factor | Canadian Accountant | |
Licensed for U.S. tax returns? | ✗ Usually not | ✓ U.S.-licensed CPA |
Knows Form 5472? | ✗ Rarely | ✓ Specialized in it |
Includes pro forma Form 1120? | ✗ Typically missed | ✓ Always included |
Handles IRS submission? | ✗ Usually left to you | ✓ Filed on your behalf |
Price | $500 – $2,000+ (hourly) | $399 flat |
Turnaround | Slow (not a priority filing) | Fast |
Penalty risk | High (unfamiliar form) | Low (specialized) |
Can also handle your T1? | ✓ Yes | ✗ U.S. filings only |
When a Canadian CPA Actually Makes Sense
There are situations where your Canadian accountant is the right call — just not for Form 5472 itself:
Your T1 personal return — including reporting your LLC's income as foreign income on Schedule T1161 or T1135
T1135 Foreign Income Verification — if your LLC holds foreign assets above the $100,000 CAD threshold
GST/HST registration and filing — if you're selling into Canada through your LLC
Provincial tax matters — anything related to your Canadian business or personal tax situation
The cleanest approach for most Canadian founders: use Form5472.online for the IRS filing, and keep your Canadian accountant for everything CRA-related. They cover different jurisdictions and don't overlap.
Verdict
OUR VERDICT
For the Form 5472 + pro forma 1120 IRS filing, Form5472.online is the right choice for Canadian founders. Your Canadian CPA isn't licensed for this, likely doesn't know the two-document requirement, and will charge more for a filing that isn't their specialty. Form5472.online exists specifically for this filing — at a flat $399, with a U.S.-licensed CPA, both documents included, and submission handled for you.
KEY TAKEAWAYS
Canadian CPAs are not licensed for U.S. federal tax filings — Form 5472 is an IRS obligation, not a CRA one.
Filing your T1 in Canada does not satisfy the IRS. Both obligations must be handled separately.
Form5472.online always files both required documents — Form 5472 and the pro forma Form 1120. Canadian accountants frequently miss the second one.
The flat $399 fee at Form5472.online is typically lower than what a Canadian firm would charge for an unfamiliar U.S. filing billed hourly.
Keep your Canadian accountant for your T1, T1135, and CRA obligations. Use Form5472.online for the IRS filing.
Frequently Asked Questions
My Canadian CPA said they can handle Form 5472. Should I trust that?
Ask them directly: are they a U.S.-licensed CPA, enrolled agent, or do they hold U.S. tax preparer authorization? If they can't answer yes clearly, they are not authorized to prepare U.S. federal tax returns for compensation. Also ask whether they know the pro forma Form 1120 requirement — if they're unfamiliar with it, that's a strong signal to look elsewhere.
Can I use Form5472.online for just the IRS filing and keep my Canadian accountant for everything else?
Yes — and that's exactly what most Canadian founders do. Form5472.online handles the U.S. IRS obligation (Form 5472 + pro forma 1120). Your Canadian accountant continues to handle your T1, T1135 if applicable, GST/HST, and any other CRA filings. The two don't overlap.
Does Form5472.online handle the IRS submission, or do I have to do that myself?
Form5472.online handles the full submission. The completed package is submitted to the IRS by fax or certified mail on your behalf. You don't need to do anything after providing your information and approving the prepared forms.
What if my U.S. LLC had no income and no transactions?
You still need to file. A pro forma Form 1120 must be submitted to confirm the LLC's inactive status. Form5472.online handles this at the same flat fee — inactive LLCs are not excluded from the requirement.
Is $399 the total cost, or are there add-ons?
$399 is the flat fee for the complete Form 5472 + pro forma 1120 filing, including IRS submission. There are no hourly charges or hidden add-ons for the core filing. Optional services like state annual report filing are available separately if needed.
File Your Form 5472 With a U.S.-Licensed CPA
Both documents included · IRS submission handled · $399 flat · Canadian founders served every year
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