The Department of Commerce will submit to the Office of Management and Budget (OMB) for clearance the following proposal for collection of information under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35).
Agency: Bureau of Economic Analysis (BEA).
Title: Quarterly Survey of Foreign Direct Investment in the United States—Transactions of U.S. Affiliate with Foreign Parent.
OMB Control Number: 0608-0009.
Form Number(s): BE-605.
Type of Request: Regular submission.
Number of Responses: 16,000 annually.
Average Hours per Response: One hour is the average, but may vary considerably among respondents because of differences in company size and complexity.
Estimated Total Annual Burden Hours: 16,000.
Needs and Uses: The Quarterly Survey of Foreign Direct Investment in the United States—Transactions of U.S. Affiliate with Foreign Parent (BE-605) is a sample survey that collects data on transactions and positions between foreign-owned U.S. business enterprises and their “affiliated foreign groups” (i.e., their foreign parents and foreign affiliates of their foreign parents). The sample data are used to derive universe estimates in nonbenchmark years from similar data reported in the BE-12, Benchmark Survey of Foreign Direct Investment in the United States, which is conducted every five years. The data are used in the preparation of the U.S. international transactions, national income and product, and input-output accounts and the net international investment position of the United States. The data are needed to measure the size and economic significance of foreign direct investment in the United States, measure changes in such investment, and assess its impact on the U.S. economy.
The Bureau of Economic Analysis (BEA) proposes the following changes to the survey: (1) The deletion of a check-box question that asks respondents whether they plan to expand their operation with a new facility (this information is no longer needed); and (2) design improvements to the survey form.
Form BE-605 is a quarterly report that must be filed within 30 days after the end of each quarter (45 days after the final quarter of the respondent's fiscal year) by every U.S. business enterprise that is owned 10 percent or more by a foreign investor and that has total assets, sales or gross operating revenues, or net income (positive or negative) of over $60 million.
As an alternative to filing paper forms, BEA will offer an electronic filing option, its eFile system, for use in reporting on Form BE-605. For more information about eFile, go to www.bea.gov/efile.
Potential respondents are those U.S. business enterprises that were required to report in the BE-12, Benchmark Survey of Foreign Direct Investment in the United States—2007, along with those U.S. business enterprises that subsequently entered the direct investment universe. The data collected are sample data covering transactions and positions between foreign-owned U.S. business enterprises and their affiliated foreign groups. Universe estimates are developed from the reported sample data.
Affected Public: Business or other for-profit organizations.
Respondent's Obligation: Mandatory.
OMB Desk Officer: Paul Bugg, (202) 395-3093.
Copies of the above information collection proposal can be obtained by calling or writing Jennifer Jessup, Departmental Paperwork Clearance Officer, (202) 482-0336, Department of Commerce, Room 6616, 14th and Constitution Avenue NW., Washington, DC 20230, or via email at email@example.com.
Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to Paul Bugg, OMB Desk Officer, FAX number (202) 395-7245, or via email at firstname.lastname@example.org.
Dated: February 2, 2012.
Management Analyst, Office of Chief Information Officer.
[FR Doc. 2012-2684 Filed 2-6-12; 8:45 am]
BILLING CODE 3510-06-P