[Verse 1] There's a form you need to know about When foreign owners come to play In US corporations or LLCs today It's not a tax, just information Filing facts across the nation Form five four seven two shows the way [Chorus] Five four seven two, information's due Twenty-five percent foreign owned, it's true No tax assessed, just facts expressed Related party transactions, nothing less Five four seven two, here's what you do Report the deals between me and you [Verse 2] Since twenty seventeen the rules have changed Single member LLCs in the game If foreign owned and disregarded This form must still be filed and charted Even though no tax is due today Information return leads the way [Chorus] Five four seven two, information's due Twenty-five percent foreign owned, it's true No tax assessed, just facts expressed Related party transactions, nothing less Five four seven two, here's what you do Report the deals between me and you [Bridge] Delaware LLC with foreign control Non-resident manager plays their role US trade or business in the mix Form five four seven two does the trick Not about the money that you owe Just the transactions you need to show [Chorus] Five four seven two, information's due Twenty-five percent foreign owned, it's true No tax assessed, just facts expressed Related party transactions, nothing less Five four seven two, here's what you do Report the deals between me and you [Outro] Information return, that's the key Foreign owned means filing for you and me Five four seven two, remember true Compliance starts with what you do
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