Bureau of Economic Analysis, Commerce.
Notice of reporting requirements.
By this Notice, the Bureau of Economic Analysis, Department of Commerce, is informing the public that it is conducting the mandatory surveys titled BE-577, Quarterly Survey of U.S. Direct Investment Abroad—Direct Transactions of U.S. Reporter with Foreign Affiliate. This survey is authorized by the International Investment and Trade in Services Survey Act.
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This Notice constitutes legal notification to all United States persons (defined below) who meet the reporting requirements set forth in this Notice that they must respond to, and comply with, the surveys. Reports are due 30 days after the close of each calendar or fiscal quarter end; 45 days if the report is for the final quarter of the financial reporting year. The BE-577 survey forms and instructions are available on the BEA Web site at www.bea.gov/internationallindex.htm#surveys.
(a) United States, when used in a geographic sense, means the 50 States, the District of Columbia, the Commonwealth of Puerto Rico, and all territories and possessions of the United States.
(b) Foreign when used in a geographic sense, means that which is situated outside the United States or which belongs to or is characteristic of a country other than the United States.
(c) Person means any individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Government, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, including a government-sponsored agency).
(d) Business enterprise means any organization, association, branch, or venture that exists for profit making purposes or to otherwise secure economic advantage, and any ownership of any real estate.
Who Must Report
(a) The quarterly Form BE-577 is required from each U.S. person that has a direct and/or indirect ownership interest of at least 10 percent of the voting stock in an incorporated foreign business enterprise or an equivalent interest in an unincorporated foreign business enterprise and that meets the additional conditions detailed in Form BE-577.
(b) Entities required to report will be contacted individually by the Bureau of Economic Analysis (BEA). Entities not contacted by BEA have no reporting responsibilities.
What To Report: The survey collects information on transactions between parent companies and their affiliates and on direct investment positions (stocks).
How To Report: Reports can be filed using BEA's electronic reporting system at www.bea.gov/efile. Copies of the survey forms and instructions, which contain complete information on reporting procedures and definitions, may be obtained at the BEA Web site given above. Form BE-577 inquiries can be made by phone to (202) 606-5557 or by sending an email to firstname.lastname@example.org.
When To Report: Reports are due to BEA 30 days after the close of each calendar or fiscal quarter; 45 days if the report is for the final quarter of the financial reporting year.
Paperwork Reduction Act Notice: This data collection has been approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act and assigned control number 0608-0004. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by OMB. Public reporting burden for these collections of information are estimated to average 1 hour per response. Send comments regarding this burden estimate to Director, Bureau of Economic Analysis (BE-1), U.S. Department of Commerce, Washington DC 20230; and to the Office of Management and Budget, Paperwork Reductions Project 0608-0004, Washington DC 20503.
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J. Steven Landefeld,
Director, Bureau of Economic Analysis.
[FR Doc. 2013-03607 Filed 2-14-13; 8:45 am]
BILLING CODE 3510-06-P