GlossaryUS
What is Form 7004?
Application for automatic extension of time to file business returns
Short answer
Form 7004 is how companies request an automatic extension of time from the IRS for business returns such as Form 1120. The extension is generally 6 months and only extends the time to file, not the time to pay.
Explained
Form 7004 must be filed by the original due date of the return, with a separate form for each return. If tax is owed, interest runs from the original due date.
The IRS no longer sends a notice that an extension was approved; it only writes if the request is not accepted. Foreign-owned single-member LLCs request the Form 5472 extension using the Form 1120 code and write “Foreign-owned U.S. DE” at the top.
Good to know
- An extension does not extend the time to pay; tax is due by the original due date.
- Fiscal years ending in June can have a different extension period; check the IRS instructions for the year.
- The IRS can end an extension with at least 10 days’ notice.
This page is general information, not legal or tax advice. Rules change; check the official source for the latest position or talk to us.
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