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Stripe 1099-K for Non-Resident LLCs

Stripe issues Form 1099-K to certain LLC owners reporting gross payment volume. Non-resident-owned Wyoming LLCs may or may not receive 1099-K depending on circumstances. This guide explains.

Answer

Form 1099-K reports gross payment volume from Stripe to merchants whose annual volume crosses IRS thresholds (currently being phased from $20,000 to $600 over coming years). Non-resident-owned Wyoming LLCs that meet the threshold receive 1099-K. The 1099-K reports gross revenue (not income); it does NOT mean US tax is owed. Most non-resident operating LLCs owe $0 US federal income tax on this revenue (no ECI). Save 1099-K for your records and use it to reconcile Stripe revenue against your bookkeeping.

By Zawwad, Founder & CEO, WyomingLLC by Topslice LLC.

Last updated May 20, 2026

When Stripe issues 1099-K

  • Annual Stripe payment volume crosses IRS threshold
  • Threshold transitioning from $20,000 to $600 over several years (currently $5,000 for 2024 tax year)
  • EIN-based threshold (LLC volume aggregated)
  • 1099-K sent by January 31 for prior tax year

What 1099-K reports

  • Gross payment volume (not net revenue, not income)
  • Number of transactions
  • Month-by-month breakdown
  • Stripe's identifying information
  • Your LLC's EIN and name

Tax implications for non-residents

Receiving 1099-K does NOT mean US tax is owed. The 1099-K reports gross revenue. Your actual US tax obligation depends on ECI (Effectively Connected Income) analysis. Most non-resident operating LLCs owe $0 US federal tax on this revenue. Form 5472 + pro forma 1120 is mandatory regardless. Use 1099-K to reconcile Stripe revenue against your bookkeeping records.

Frequently asked questions

Will non-residents get 1099-K?
Yes if Stripe volume crosses the threshold. Threshold is being phased down from $20,000 to $600.
Does 1099-K mean I owe US tax?
No. 1099-K reports gross revenue. US tax depends on ECI analysis. Most non-resident operating LLCs owe $0.
Where does 1099-K go on my taxes?
Form 5472 reports related-party transactions (not Stripe revenue, which is unrelated-party). 1099-K is for your records and home country reporting.
What if my 1099-K is wrong?
Contact Stripe to request a corrected 1099-K. The IRS has the same 1099-K Stripe sent.

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