abandoned LLC - troubles visiting US?

[tomwis]

I have founded LLC in Wyoming some years back, but didn't do any business on it. Nothing, zero. Every year I get notifications from registering entity that I should hire registered agent + file annual tax report (and pay for it). I don't do it, the company just levitates there.

I plan to go to the US for holidays with my family. Being a citizen in EU I'm not required to apply for any visa, but should I be afraid I'll be denied entry to the US because of my misbehaviour with that LLC?

 

[JohnnyDoe]

You will not be denied entry.
You should be worried about being denied exit, but it won’t happen

 

[JackAlabama]

I have founded LLC in Wyoming some years back, but didn't do any business on it. Nothing, zero. Every year I get notifications from registering entity that I should hire registered agent + file annual tax report (and pay for it). I don't do it, the company just levitates there.

I plan to go to the US for holidays with my family. Being a citizen in EU I'm not required to apply for any visa, but should I be afraid I'll be denied entry to the US because of my misbehaviour with that LLC?

why misbehaviour?
If you stop paying the LLC fees, it will simply be dissovled and case closed. Its a common way of closing companies.

You can check yourself on the WY registry, it should be already marked as dissolved.

 

[Clank]

No one cares about you abandoning an LLC.

Don’t worry.

 

[Martin Everson]

I have founded LLC in Wyoming some years back, but didn't do any business on it. Nothing, zero. Every year I get notifications from registering entity that I should hire registered agent + file annual tax report (and pay for it). I don't do it, the company just levitates there.

I plan to go to the US for holidays with my family. Being a citizen in EU I'm not required to apply for any visa, but should I be afraid I'll be denied entry to the US because of my misbehaviour with that LLC?

Sounds like you had an Administrative dissolution by taking no action on notices. Your now personally liable for any unpaid fees, penalties etc.

https://monarchregisteredagent.com/understanding-administrative-dissolution-in-wyoming/


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Consequences of Administrative Dissolution:​

Loss of legal operation: Your LLC can no longer legally operate in Wyoming, meaning any business activities conducted after dissolution are unauthorized.

Forfeited liability protection: The limited liability shield offered by the LLC structure is nullified, potentially exposing owners to personal liability for the company’s debts and obligations.

Potential legal issues: In some cases, owners remain unaware of their LLC’s dissolved status, unknowingly operating without liability protection and potentially facing legal challenges.

----- quote end

 

[tomwis]

Sounds like you had an Administrative dissolution by taking no action on notices. Your now personally liable for any unpaid fees, penalties etc.

https://monarchregisteredagent.com/understanding-administrative-dissolution-in-wyoming/

Exactly, that "personally liable" I'm kind of worried about.

Not sure if that matters at all, but I'm travelling to other states, not Wyoming

 

[ChadMuska]

Isn't there a 25k USD penalty when you don't report to the IRS?

I've never owned a US LLC, but I'm pretty sure I've read it somewhere on this forum.

 

[sebastian]

Yes, there are these penalties, but I have not heard of anyone speaking out about receiving such a fine yet. However, every U.S. LLC is obligated to complete and submit Form 5472. Failure to do so can result in a penalty of $25,000.

As mentioned, we have not had anyone on OCT reporting that they have received such a fine yet; at least, I have not seen it.

So, I think you can travel in and out of the U.S. without issue as long as you have not received any notification about such a penalty.

 

[JackAlabama]

Isn't there a 25k USD penalty when you don't report to the IRS?

I've never owned a US LLC, but I'm pretty sure I've read it somewhere on this forum.

yeah there is but this stops once the LLC has been dissolved. You do one more in the year this has been the case.

 

[ChadMuska]

Every year I get notifications from registering entity that I should hire registered agent + file annual tax report (and pay for it). I don't do it, the company just levitates there.

yeah there is but this stops once the LLC has been dissolved. You do one more in the year this has been the case.

According to OP, it seems like he hasn't done it all though.

 

[Martin Everson]

Isn't there a 25k USD penalty when you don't report to the IRS?

Guide is below and its actually worse than you say....lol.

https://oandgaccounting.com/resourc...g-your-guide-to-forms-5472-and-proforma-1120/


https://www.thetaxadviser.com/issues/2021/jul/penalty-relief-forms-5471-5472-8865.html

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A failure to timely file a Form 5472 is subject to a $25,000 penalty per information return, plus an additional $25,000 for each month the failure continues, beginning 90 days after the IRS notifies the taxpayer of the failure, with no maximum penalty.

---- quote end