By Mukund Srinivas | Business Head, NYBACS · Updated · Version 1.2
Build the calendar around the entity
Start with federal tax classification, year-end, ownership and state footprint. An LLC label alone does not identify the return. This planner assumes a 31 December 2026 year-end for the dated examples; fiscal years, short periods and special rules require a separate calendar.
| Entity / tax status | Initial filing review |
|---|---|
| US C corporation | Form 1120; assess Form 5472 for qualifying foreign ownership and related-party transactions. [1, 3] |
| Multi-member LLC taxed as partnership | Form 1065 and partner reporting; separately assess foreign-partner withholding and owner-level returns. [2] |
| Foreign-owned disregarded US entity | Assess Form 5472 with pro forma Form 1120 when reportable transactions occur; owner-level obligations may also apply. [3] |
Create the entity control record
- Legal name, EIN, formation state and formation date recorded.
- Tax classification and any elections confirmed with the preparer.
- Owners, ownership changes and related parties documented.
- All states with people, property, inventory or sales identified.
- Prior filings, notices, extensions and payment confirmations collected.
Entity __________ year-end __________ preparer __________ internal owner __________
Core planning dates for 2027
These dates apply standard current rules to the 2026 calendar year. Confirm final filing-year instructions, relief and entity-specific exceptions before relying on them. An extension to file generally does not extend the time to pay. [1, 2, 4]
| Planning date | Potential obligation | Who should review |
|---|---|---|
| 1 February 2027 | 2026 Forms W-2 / 1099-NEC, where required. January 31 falls on Sunday. [5] | Employers and businesses with reportable payments |
| 1 March 2027 | Delaware domestic corporation annual report and franchise tax for 2026. [6] | Delaware corporations |
| 15 March 2027 | Calendar-year Form 1065 or timely extension request. [2, 4] | Partnership-taxed entities |
| 15 April 2027 | Calendar-year Form 1120 or timely extension; assess related Form 5472 package. [1, 3, 4] | C corporations and applicable foreign-owned disregarded entities |
| 1 June 2027 | Delaware LLC annual tax for 2026; no LLC annual report. [9] | Delaware LLCs |
| 15 September 2027 | Extended calendar-year Form 1065, if extension valid. [2, 4] | Partnership-taxed entities |
| 15 October 2027 | Extended calendar-year Form 1120 and applicable associated reporting, if extension valid. [1, 3, 4] | Applicable corporate / disregarded-entity filers |
Internal recommendation: assign preparation deadlines 30 days before the statutory deadline and an approval checkpoint 10 days before it. These are workflow targets, not statutory dates.
Recurring controls that prevent missed filings
| Frequency / trigger | Action and evidence |
|---|---|
| Monthly | Reconcile bank, cards and payment processors; post parent transactions; retain statements and invoices; review notices. |
| Before payroll / each payroll | Confirm registrations, payroll settings and funding; reconcile submissions, tax debits and any reversals. Filing deadlines and deposit deadlines differ. [5] |
| Quarterly | Review state footprint, taxable sales, estimated taxes and payroll obligations with the advisers responsible. |
| Ownership or operating change | Reassess tax classification, reporting, registrations and bank KYC. Changes include acquisitions, new states and new owners. |
| Year-end | Close ledgers; reconcile intercompany balances; collect payee documentation; confirm return scope and extensions. |
Worked example: no revenue does not mean no review
Scenario. A foreign individual owns a US single-member LLC with no corporate election. During 2026 the owner contributes $12,000, the LLC pays $2,000 in costs and receives no customer revenue. Closing cash is $10,000, assuming no other transactions.
The contribution is a reportable-transaction consideration for Form 5472 even though sales are zero. On these assumptions, prepare the Form 5472/pro forma Form 1120 filing review and the state obligations separately. A failure to file Form 5472 can trigger a $25,000 penalty. [3]
Evidence register
| Obligation | Owner / due date | Proof saved |
|---|---|---|
| Federal return / extension | ________________ | ________________ |
| State return / annual report | ________________ | ________________ |
| Tax payment confirmation | ________________ | ________________ |
| Notice response / follow-up | ________________ | ________________ |
Completion means accepted filing evidence and payment confirmation where relevant, not merely that documents were sent to a preparer.
Authoritative sources
[1] IRS - Form 1120 instructions
https://www.irs.gov/instructions/i1120
[2] IRS - Form 1065 instructions
https://www.irs.gov/instructions/i1065
[3] IRS - Form 5472 instructions
https://www.irs.gov/instructions/i5472
[4] IRS - Form 7004 instructions
https://www.irs.gov/instructions/i7004
[5] IRS - Employment tax due dates
https://www.irs.gov/businesses/small-businesses-self-employed/employment-tax-due-dates
[6] Delaware - Corporate annual reports and tax
https://corp.delaware.gov/paytaxes/
[7] FinCEN - Current BOI reporting guidance
https://www.fincen.gov/boi
[8] FinCEN - Customer due diligence rule
https://www.fincen.gov/resources/statutes-and-regulations/cdd-final-rule
[9] Delaware - LLC/LP/GP annual tax
https://corp.delaware.gov/alt-entitytaxinstructions/
Sources accessed 25 October 2026. Dates are planning applications of current rules, not a representation that all final 2027 instructions have been issued. Review again before the 2027 filing season.
By Mukund Srinivas, Business Head, NYBACS. General educational guidance; not a complete filing determination or a substitute for entity-specific tax advice.
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