For US owners of inactive foreign companies, last checked November 1, 2026
Dormant Foreign Corporation: The Form 5471 Summary Filing
If your foreign company has gone quiet, the US filing does not stop on its own. The IRS has a shorter summary filing for a dormant foreign corporation, but it has its own definition. Here is what it is and what to check.
Quick answer
Do I file Form 5471 for a dormant foreign corporation?
An inactive company does not remove the filing requirement by itself. The Form 5471 instructions say that Rev. Proc. 92-70 provides a summary filing procedure for a dormant foreign corporation, as defined in section 3 of that procedure. The summary filing satisfies the reporting requirements of sections 6038 and 6046. It uses only page 1 of Form 5471 for each dormant corporation, and it is filed in the same way as a regular Form 5471, with your income tax return.
At a glance
- Still file?
- Generally yes, if you are otherwise a Form 5471 filer
- Shorter option
- A summary filing under Rev. Proc. 92-70, if the corporation meets its definition
- What it covers
- The reporting requirements of sections 6038 and 6046
- Filed with
- Your income tax return, by its due date including extensions
- Source
- Form 5471 instructions, checked November 1, 2026
What to check
These are the questions to answer before relying on the summary filing.
- Are you a Form 5471 filer at all. Your category does not change because the company is quiet. See the filer categories.
- Does the corporation meet the definition. The test is in section 3 of Rev. Proc. 92-70, not in everyday meaning. A company with no customers is not automatically dormant under it, so check the activity for that year against the procedure.
- Check each year separately. A company may be dormant one year and not the next, for example in a year it sells something or closes.
- Check the rest of the filing. Other reporting can still apply, such as the FBAR on company accounts. See FBAR filing requirements.
If you relied on the wrong filing
The summary filing only satisfies the requirements for a corporation that meets the definition. If yours did not, the regular form was required, and the usual penalty and open time limit questions come up. See late Form 5471: penalties and options.
When to get help
Get help if:
- The company had any income, expenses, sales or share changes in the year
- You are not sure whether earlier years qualified
- You never filed for the company, even while it was quiet
- You are planning to close it
We check this as part of our Form 5471 filing service.
Common questions
My company had no income. Is it dormant?
Not necessarily. The definition is in section 3 of Rev. Proc. 92-70, so the year's activity has to be checked against it.
Do I still need to file if the company did nothing?
Generally yes, if you are a Form 5471 filer. The summary filing is a shorter way of filing, not an exemption from filing.
How much of the form is completed?
The instructions say that under the summary procedure only page 1 of Form 5471 is completed for each dormant foreign corporation.
Is the summary filing automatic?
No. The instructions describe it as a procedure you elect, and the return is labeled to show it is filed under Rev. Proc. 92-70.
What if I never filed for my dormant company?
Missed years are treated like other late Forms 5471. Compare the routes in our guide to late Form 5471.
Sources
Every rule and figure on this page links to the IRS, CRA or other official source it comes from. Amounts change; we re-check them before each engagement.
Gurleen Kaur, CPA licensed in British Columbia and Washington State. Last updated November 1, 2026. This page is general information, not tax or legal advice for your situation.
Related guides: Form 5471 filing service, Form 5471 guide, Late Form 5471, US citizens with a Canadian company.
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