Frequently asked questions
Straight answers for clients in the US. Rules change and every situation is different, so treat these as a starting point.
United States
I am a non-resident who owns a single-member US LLC. What do I need to file?
A foreign-owned single-member LLC is generally required to file Form 5472 with a pro forma Form 1120 each year, even with no US income, and penalties for missing it are steep. Depending on your activity there may be state filings too. We review your situation and file what applies.
Who has to file an FBAR?
US persons — citizens, green-card holders and US tax residents — whose foreign financial accounts add up to more than $10,000 at any point in the year. This often includes NRIs with bank accounts back home.
Do I have to collect sales tax in other states?
It depends on whether you have nexus there, which can be created by sales volume as well as physical presence. We run a nexus review and register you only where it is required.
Working with Hi5
How much do your services cost?
Most work is priced as a fixed monthly fee or a fixed fee per filing, agreed in writing before we start. After a free consultation we send a proposal with the scope and price, so there are no surprises.
Can you work with me if I am in a different country?
Yes. Everything — document collection, review calls and sign-off — works remotely. Many of our clients live in one country and have filings in another.
How do you keep my financial data secure?
We use access-controlled cloud tools, request read-only access to bank accounts wherever possible, and every team member works under a confidentiality agreement.
Which accounting software do you support?
QuickBooks Online, Xero, Zoho Books, Tally, Sage and most ERPs. If you have none, we help you choose and set one up.
What happens after I book a consultation?
We schedule a call at a time that suits you, understand your business and current compliance status, and then send a written proposal.
Free 30-minute consultation
Still have a question?
Ask us directly. A consultation is free and there is no obligation.
- We schedule a call At a time that suits you.
- We review where you stand Your entity, what is due, and anything overdue.
- You get a written proposal Scope, timeline and a fixed fee.
- +1 (512) 940 1265
- connect@hi5consulting.com
- Mon–Fri, 9am–6pm CT
Your next deadline is closer than you think.
Next up in the US: 941 on 31 October