Forming a Wyoming LLC is an increasingly popular route for Colombian entrepreneurs who want to access the U.S. market, bill international clients in U.S. dollars, and grow their businesses in a trusted legal environment.
Wyoming, in particular, is known for its business-friendly regulations, no state income tax, and low ongoing costs.
But forming the LLC is just the first step. Many Colombian founders ask: Do I need to file U.S. taxes if I live in Colombia but own a Wyoming LLC? In most cases, the answer is yes.
Even if your company has no revenue, the IRS and the state of Wyoming expect certain filings every year. Failing to comply can result in costly penalties and even the dissolution of your business.
This guide walks you through what you need to file, when to file it, and how Bookmate makes the process simple and fully remote for Colombian business owners.
Can a Colombian Citizen Own a U.S. LLC?
Yes. U.S. law allows non-residents, including Colombians, to form and fully own a Limited Liability Company (LLC) in any U.S. state, including Wyoming. You don’t need a U.S. address, visa, or citizenship, and the entire process can be done online.
Wyoming is a top choice because:
- It has no state income tax if you don’t operate physically in the state
- Annual maintenance is simple and inexpensive (starting at $60/year)
- You only need one member to form the LLC
- It offers privacy protections and minimal reporting
- You can form online via services like Firstbase, Doola, or others
After forming your LLC, you’ll need to apply for an EIN (Employer Identification Number) with the IRS. This is your company’s tax ID, and it’s essential for tax filings, banking, and using platforms like Stripe or PayPal.
Do I Need to File U.S. Taxes From Colombia If I Own a Wyoming LLC?
Yes. Once your Wyoming LLC is formed, it creates a U.S. tax reporting obligation, regardless of whether the company is active or earning money. These filings are designed to provide transparency for foreign ownership.
You’ll be responsible for two main categories of filings each year:
- Federal tax filings with the IRS
- State filings with the Wyoming Secretary of State
Let's explore both in detail.
1. Federal Tax Requirements for Colombian Owners
Your exact filing depends on whether your LLC has one owner (you) or multiple owners (a partner or investor).
Single-Member LLC (Foreign-Owned)
If you’re the only owner of your Wyoming LLC and live in Colombia, the IRS treats your company as a disregarded entity. You will need to:
- File Form 5472, disclosing that your LLC is foreign-owned and detailing transactions between you and your business
- Submit a pro forma Form 1120, a basic corporate return used to report ownership and attach Form 5472
These forms are due by April 15 each year. If you need more time, you can file an extension using Form 7004, which pushes the due date to October 15.
Even if your business made no money, this filing is still mandatory. The IRS imposes a $25,000 penalty per year, per form if you don’t file or file incorrectly.
Multi-Member LLC (Foreign-Owned)
If your LLC has more than one owner, it’s classified as a partnership by the IRS. You must:
- File Form 1065, a U.S. partnership tax return
- Issue Schedule K-1 forms to each partner showing their share of income or loss
If your business earned U.S.-sourced income—for example, payments from U.S. clients—you may also be required to file a 1040-NR as a foreign partner.
There is one exception: if your multi-member LLC had no activity at all—no bank transactions, no revenue, no expenses—you are not required to file. This is the only situation where a filing is not necessary, and we recommend confirming this with a CPA.
2. Wyoming State Filing Requirements
Although Wyoming has no income tax, it does require LLCs to file an Annual Report each year:
- Due during the anniversary month of your company’s formation
- Filed online with the Wyoming Secretary of State
- Minimum fee is $60 (increases if your company owns property in Wyoming)
This report keeps your business in good standing and ensures it isn’t administratively dissolved. Importantly, Wyoming does not offer extensions, so make sure you meet this deadline every year.
If your business does not have physical operations or property in Wyoming, you do not owe any additional state-level taxes.
What If My Wyoming LLC Has No Income?
This is one of the most common questions from Colombian founders.
Even if your LLC:
- Had no customers
- Made no sales
- Incurred no expenses
- Had no Stripe or PayPal activity
You are still required to file tax forms if you are a single-member foreign-owned LLC. The IRS wants to know about the existence and ownership of the business. Missing these filings triggers the same $25,000 penalties as active businesses.
For multi-member LLCs, if there was truly no activity of any kind, you are not required to file. But this is a narrow exception and should be confirmed with a qualified tax advisor.
Do I Need an EIN to Operate?
Yes. Your Employer Identification Number (EIN) is the tax ID for your LLC. It’s required for:
- Filing federal tax forms
- Opening a U.S. business bank account
- Registering with Stripe, PayPal, or Shopify
- Working with U.S.-based accountants
Even if you don’t have a U.S. Social Security Number, you can still obtain an EIN by submitting IRS Form SS-4 via fax. Bookmate can assist with this process if needed.
Do I Need to Report My U.S. LLC in Colombia?
Yes. Colombia taxes its residents on their global income, which means you may need to report the income or ownership of your U.S. LLC to the DIAN (Dirección de Impuestos y Aduanas Nacionales).
While the U.S. and Colombia do not have a full tax treaty, you may be able to claim credits or deductions depending on how income is categorized. Local compliance rules can vary based on whether you are withdrawing profits or reinvesting them.
Bookmate specializes only in U.S. tax filings, so we recommend you consult with a Colombian accountant for proper local tax planning.
How Bookmate Helps Colombian Business Owners
We’ve worked with founders all over Latin America, and we understand the unique challenges of running a U.S. business from abroad. At Bookmate, our services are tailored to non-U.S. founders who need reliable, affordable, and remote support.
We handle:
- Form 5472 + pro forma 1120 for single-member LLCs
- Form 1065 + K-1s for multi-member LLCs
- 1040-NR for foreign owners with U.S.-connected income
- IRS extensions and EIN applications
- Responding to IRS notices or questions
All services are delivered completely remotely. No paperwork. No mailing. No U.S. address required.
What It’s Like to Work With Bookmate
Step 1: Free Consultation We’ll jump on a Zoom call to learn more about your business, structure, and goals.
Step 2: Service Agreement + Payment You’ll receive a simple engagement letter and one-time invoice—no subscriptions.
Step 3: Secure Online Intake Form You’ll provide your EIN, LLC details, and ownership information via our secure form.
Step 4: Tax Preparation by Experts Our licensed CPAs prepare and review your filings, then walk you through the final steps.
Step 5: Filing + Support We file all forms with the IRS and Wyoming, and respond to any notices if needed.
Need Help With Your U.S. Taxes From Colombia?
Bookmate is your partner for filing U.S. taxes if you live in Colombia and own a Wyoming LLC. We handle everything remotely and offer expert support so you don’t have to stress over IRS deadlines or complex rules.
📅 Book a free consultation or visit trybookmate.co to learn more.
Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice. Please consult a Colombian accountant for obligations in Colombia.
