Incorporation Guide
How to incorporate a US company as a foreign founder.
The complete, no-fluff guide. Entity types, EIN without SSN, bank accounts, Form 5472, ongoing compliance — everything you need to know.
Step by step
Seven steps to a
fully operational US company.
Choose your entity type
Delaware C-Corp is the standard for venture-backed startups — VCs expect it, SAFEs and priced rounds are built around it. Wyoming LLC works better for bootstrapped founders: lower fees, stronger privacy, no franchise tax for small companies. Both work for foreign founders.
Get your EIN (without an SSN)
The EIN is your company's tax ID. As a foreign founder, you don't have an SSN — and that's fine. The IRS accepts EIN applications from foreign applicants, but the traditional process involves fax machines and 4–6 week waits. Digital services like Corppy handle this in 24–48 hours.
Open a US bank account
This is the single biggest anxiety for foreign founders. Most banks reject non-US applicants or require in-person visits. Mercury, Stripe, and Wise offer remote opening — but approval isn't guaranteed unless you go through a formation service with pre-approval relationships.
Set up your US address and phone
Your US company needs a registered business address (not a PO box) and ideally a US phone number. The address is used for mail, government correspondence, and bank verification. The phone number builds credibility with US customers and payment processors.
Appoint a registered agent
Every US company needs a registered agent in its state of incorporation — someone who can receive legal documents and government notices on your behalf. This is typically a paid service and is required for the life of your company.
Handle Form 5472 (critical)
If your US company is foreign-owned, the IRS requires you to file Form 5472 annually. The penalty for not filing is $25,000 per form, and it compounds. Most formation services don't include this. Some don't even mention it. Make sure whoever forms your company handles it.
Stay compliant year-round
Formation is day one. After that, you need annual report filings, franchise tax payments (Delaware), Form 5472, and potentially state-level compliance depending on where you operate. Missing deadlines means penalties and, in some cases, dissolution of your company.
Entity comparison
Delaware C-Corp vs.
Wyoming LLC.
Delaware C-Corp
Best for VC-backed startups
- — Standard structure for venture capital
- — SAFEs and priced rounds built for C-Corps
- — 1 in 5 corps formed via Atlas are Delaware
- — Franchise tax applies ($400+ annually)
- — Formation: 1–3 business days
Wyoming LLC
Best for bootstrapped founders
- — Lowest state fees in the US
- — Strongest privacy protections
- — No franchise tax for small companies
- — Pass-through taxation flexibility
- — Formation: 1–3 business days
Ready to incorporate? We handle all seven steps.
Formation, EIN, bank account, address, phone, Form 5472, compliance. $500 first year. Set up in days.
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