Every foreign-owned LLC will be required to file Form 5472, unless the LLC had no reportable transactions (as described below) during the reporting year. On page 1 of the schedule, line 1f now requests "Other Foreign Personal.This form is for general instructions that apply to all corporation tax forms. It includes a variety of topics about how to fill out your form. For individuals who have ownership of a foreign corporation, the US tax filing requirements and reporting rules have become extremely onerous and invasive. The term "foreign personal holding company income" means the portion of the gross income which consists of: (A) Dividends, etc.