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. Multinational businesses can review those proposed r and prepare for how their tax profiles might change if Harris wins the White House.Corporations use this form to compute their foreign tax credit for certain taxes paid or accrued to foreign countries or US possessions. If you're not required to file Form 1040, see the line 9 instructions. Foreign Judgments must be domesticated in a Texas court first.