BEA Survey Requirements

Your Guide to State, Local, Federal, Estate + International Taxation

Unless you received a letter from the Bureau of Economic Analysis (BEA) requesting you complete a survey, you may not have been aware of the existence of these surveys. Although BEA surveys have been around for a number of years, it wasn’t until 2015 that it seems word of the possible need to complete a survey was spreading through professional newsletters and other announcements. The BEA is part of the U.S. Department of Commerce that gathers statistical data on the economic performance of U.S. investments in foreign affiliates and foreign investments in the United States.

Summarized below are some of the surveys and who may be required to file.

PLEASE NOTE – THIS IS A GENERAL OUTLINE ONLY AND DOES NOT COVER ALL SITUATIONS. YOU SHOULD NOT RELY ON THIS OUTLINE TO DETERMINE YOUR OWN REQUIREMENTS. WE STRONGLY ENCOURAGE READERS TO REACH OUT TO THEIR LEGAL ADVISERS FOR SPECIFIC GUIDANCE.

FAILURE TO FILE MAY RESULT IN LARGE PENALTIES AND/OR IMPRISONMENT.

U.S. Direct Investment Abroad

  • BE-10 Benchmark Survey: U.S. person (U.S. reporter) that has direct or indirect ownership of at least 10% voting stock of A foreign affiliate
  • Filed once every five years (most recent was 2014 BE-10 Benchmark Survey filed in 2015)
  • Must file if requirement is met, even if not contacted by the BEA
  • BE-10A: filed for each U.S. investor to report domestic information
  • BE-10B, BE-10C, and BE-10D: filed for each foreign affiliate
  • Filed in lieu of the BE-11 annual survey
  • If you were required to file and did not, contact your adviser to address the issue
  • BE-11 Annual Survey:
  • Filed each of the four years between benchmark surveys
  • Data collected for larger foreign affiliates
  • Only required to file if contacted by the BEA
  • Generally required to file if contacted by the BEA and:
  • U.S. reporter with majority or minority ownership of a foreign affiliate with more than $60 million (positive or negative) in assets, sales, or net income; or
  • U.S. reporter establishes or acquires a foreign affiliate with assets, sales, or net income between $25 million and $60 million (positive or negative)

Foreign Direct Investment in the U.S.

  • BE-12 Benchmark Survey: At least 10% voting interest is directly or indirectly owned by a foreign person
  • Filed once every five years (most recent was 2012 BE-10 Benchmark Survey filed in 2013)
  • Forms BE-12A, BE-12B, or BE-12C
  • If you were required to file and did not, contact your adviser to address the issue
  • BE-15 Annual Survey:
  • Filed each of the four years between benchmark surveys
  • Only required if contacted by the BEA
  • Generally required if contacted by the BEA and total assets, sales, gross operating revenues, or net income are at least $40 million (positive or negative)

New Foreign Direct Investment in the U.S.

  • Form BE-13: New Survey in 2014
  • For retroactive data back to 1/1/2014. Moving forward, reports are due no later than 45 days after a transaction occurs.
  • Acquisitions, establishments, expansions
  • Required of all new investments that meet the requirements, even if BEA does not contact you
  • Transaction resulting in at least 10% voting interest in a U.S. business enterprise now being held by a foreign affiliate
  • Expansion of operations to include a new facility

The above list is not an exhaustive list of required BEA surveys. This information is general in nature. Please consult with your legal adviser for specific advice and potential reporting requirements.

By Jill A. Helm, CPA