Setting up a Wyoming LLC has become increasingly popular for UK entrepreneurs who want access to U.S. customers, payment platforms like Stripe and PayPal, or global investment.
But once the LLC is formed, the next major concern is: Do I need to file U.S. taxes if I’m living in the UK and own a Wyoming LLC?
The short answer is yes—if you are a nonresident who owns a U.S. LLC, you have ongoing U.S. tax filing requirements. In this article, we’ll walk you through how this works, what forms you need to file, deadlines to know, and how to stay fully compliant.
Can Someone from the UK Own a U.S. LLC?
Yes—non-U.S. residents, including UK citizens, can legally own 100% of a U.S. LLC. There are no citizenship or residency requirements to form or manage an LLC in Wyoming or any other U.S. state.
Many founders form U.S. LLCs from the UK to access U.S. markets, create a Stripe account, onboard U.S. clients, or even raise venture capital.
Wyoming is a preferred state for this due to its no state income tax, low annual compliance costs, and strong privacy protections. The entire formation process can be handled online without setting foot in the United States.
You’ll simply choose a registered agent, submit your Articles of Organization, and wait for approval—which typically takes just a few days. Once approved, your LLC is officially formed and you're ready to apply for an EIN.
Understanding Federal and State Tax Obligations
Many UK founders mistakenly assume that if their LLC made no money or has no employees, they aren’t required to file U.S. taxes. Unfortunately, this isn’t true. U.S. tax compliance is primarily about reporting, not necessarily paying. And those reporting rules apply even if you earned no revenue or had no customers.
There are two key layers of compliance for foreign-owned Wyoming LLCs: federal taxes and state obligations.
Federal Tax Requirements
Your federal tax obligations depend on how your LLC is structured:
If your LLC has one owner, such as yourself, it is classified as a single-member LLC, or a "disregarded entity" in IRS terms. For this, you are required to file:
- Form 5472, which reports foreign ownership of the LLC and records any transactions between you (the foreign owner) and the company. This could be as simple as transferring money into your business bank account.
- A pro forma Form 1120, which is a simplified version of the U.S. corporate tax return used solely to accompany Form 5472. It doesn’t report income or deductions like a traditional tax return—it serves to provide a filing framework for foreign-owned single-member LLCs.
These two forms are due every year by April 15, and late filing can trigger penalties of $25,000 or more.
If your LLC has multiple owners, it’s considered a partnership by the IRS. This means you’ll need to file:
- Form 1065, which is the U.S. partnership return
- Schedule K-1s for each partner, breaking down ownership percentages and how profits or losses are allocated
Additionally, if you or your co-founders had effectively connected income from U.S. operations, you’ll each likely need to file Form 1040-NR, the nonresident income tax return.
There is one narrow exception: if your multi-member LLC had zero financial activity—no income, no expenses, no money transfers—then the IRS may not require a filing. But this is the only exception that exists for foreign-owned LLCs. If there's any doubt, it's safest to file.
Wyoming State Compliance
Unlike some other U.S. states, Wyoming does not levy a state income tax. If your company does not have a physical presence (such as an office or employees) inside Wyoming, you will not owe any state income taxes. However, Wyoming does require all LLCs to file an Annual Report.
The annual report is due each year by the end of the anniversary month of your LLC’s formation. For example, if your LLC was formed on June 12th, your annual report would be due by June 30th of the following year and every year after that.
The report is easy to file online and costs a minimum of $60 per year. If your LLC owns property in Wyoming, the cost may be higher, as the fee is based on assets located in the state.
Failure to file the report can result in your business being administratively dissolved, which means the state of Wyoming shuts down your LLC and you lose your legal status.
What If I Had No Income or Activity?
This is one of the most common questions we get from UK founders. Maybe you formed a Wyoming LLC to test an idea, get ready for Stripe, or plan for future business—but you haven’t actually made any money yet.
Even if your LLC has no income, no customers, and no expenses, you’re still expected to file the appropriate forms with the IRS. A single-member LLC still needs to file Form 5472 and the pro forma 1120.
Again, the only exemption is for multi-member LLCs that had absolutely no activity—but even then, it’s safest to consult a tax professional before skipping a filing.
The penalties for missing a filing are severe, and being non-compliant could make it harder to open bank accounts, receive investment, or keep platforms like Stripe or PayPal.
Do I Need an EIN (Employer Identification Number)?
Yes, your Wyoming LLC will need an EIN. This number is the IRS’s way of identifying your business. You’ll use it to open a U.S. business bank account, file taxes, and apply for platforms like Stripe and PayPal.
You do not need a Social Security Number or ITIN to apply. Instead, you’ll fill out Form SS-4 and indicate that you are a foreign entity with no U.S. presence. The EIN application can be submitted by fax to the IRS, and most international applicants receive their EINs within a few weeks.
What About UK Tax Requirements?
U.S. taxes aren’t the end of your obligations. As a UK resident, you may be required to report your ownership in a foreign entity and possibly declare any income distributions you receive from the LLC.
The UK’s HMRC may tax your U.S. earnings depending on the structure of your business, the nature of your operations, and whether income has been distributed to you personally. The UK has tax treaties with the U.S. that may allow you to claim credits to avoid double taxation.
While Bookmate specializes exclusively in U.S. tax filings, we always recommend working with a local UK accountant who understands cross-border structures.
How Bookmate Supports UK-Based Founders
At Bookmate, our entire focus is helping international founders comply with U.S. tax rules. We handle the tax filings you need to submit as a nonresident owner of a U.S. LLC. Whether you’re in your first year or catching up on past filings, we’re here to help.
We prepare:
- Form 5472 + pro forma 1120 for single-member LLCs
- Form 1065 and Schedule K-1s for multi-member LLCs
- Form 1040-NR if needed
- IRS extensions and notices if you’re behind or under review
We do everything remotely—no paperwork, no mailing, no U.S. address required. Our team walks you through the process step by step.
What Working With Bookmate Looks Like
We’ve made our filing process as easy and seamless as possible:
Step 1: Book a Free ConsultationWe begin with a Zoom call to understand your business setup, tax status, and goals.
Step 2: We Send Over Your Engagement Letter and InvoiceOnce we’ve confirmed the scope, we send a service agreement and invoice to begin.
Step 3: Secure Web Form for OnboardingYou’ll fill out a simple online form where you upload your LLC documents, EIN confirmation, ownership details, and any other relevant info.
Step 4: Tax Preparation and ReviewOur licensed CPAs prepare your federal tax forms and send everything to you for review before filing. We also handle extensions if needed.
Step 5: Submission and SupportWe submit your return to the IRS via the proper method—e-filing, mailing, or fax. If the IRS sends a notice or has questions, we assist in responding.
You don’t need to print, scan, or mail a thing. We make sure everything is handled professionally and efficiently.
Ready to File U.S. Taxes for Your Wyoming LLC?
Whether your business is already active or you’re just getting started, Bookmate helps UK founders file U.S. taxes with confidence and ease. Avoid penalties, stay compliant, and get the peace of mind you need to grow.
📅 Book a free consultation or visit trybookmate.co to get started.
Disclaimer: This article is for educational purposes only and does not constitute legal or tax advice. Always consult with a qualified advisor about your specific situation.
