Deadlines for Filing U.S. Bureau of Economic Analysis BE-10 Survey
The U.S. Bureau of Economic Analysis’ (BEA) comprehensive survey on financial and operating data of U.S. multinational enterprises (BE-10) is due on May 29, 2020, for filers with fewer than 50 reportable foreign affiliates, and June 30, 2020, for filers with 50 or more reportable foreign affiliates.
The BE-10 benchmark survey is conducted by the BEA every five years and is mandatory for any U.S. person that had at least one foreign affiliate as of the end of its fiscal year 2019. Although the BEA is not granting a blanket extension to enterprises affected by COVID-19, it is accepting extension requests via eFile, and allowing reporting entities to provide estimates if the data requested is unavailable or access to required records is limited.
Who Is a U.S. Person Required to Report?
A U.S. person is any resident in the United States or subject to the jurisdiction of the United States. Any company incorporated or domiciled in the United States, or doing business in the United States, is therefore required to file a BE-10.
Who Is a Foreign Affiliate of a U.S Person?
A foreign affiliate is a foreign business enterprise (whether incorporated or unincorporated) whose voting stock (or equivalent interest therein) is directly or indirectly owned or controlled by a U.S. person. There is a limited exemption for a foreign business enterprise that is a private fund that does not own an operating company.
Any U.S. person subject to the BE-10 filing requirements must file Form BE-10A covering its fully consolidated U.S. domestic enterprise (not including data pertaining to operations of foreign affiliates reported on Forms BE-10B, BE-10C, or BE-10D). In addition, one or more of the following forms will be required for each foreign affiliate:
- Form BE-10B for each majority-owned foreign affiliate that has assets, sales or net income of more than $80 million (positive or negative).
- Form BE-10C for:
- Each majority-owned foreign affiliate that has assets, sales, or net income of more than $25 million, but less than $80 million (positive or negative).
- Each minority-owned foreign affiliate that has assets, sales, or net income of more than $25 million (positive or negative).
- Form BE-10D for all foreign affiliates that have assets, sales, or net income of $25 million or less (positive or negative).
The BEA may contact persons not subject to the reporting requirements of the BE-10 survey regarding their reporting status for themselves or their foreign affiliates; in such cases Form BE-10 Claim for Not Filing should be filed.
In addition, the following BEA surveys will be due for covered U.S. persons over the course of this year and the next:
Other BEA International Surveys: U.S. Direct Investment Abroad |
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| Form | Applicability | Frequency | Next Due Date |
| BE-577 | U.S. persons with certain directly or indirectly owned foreign affiliates | Quarterly |
30 days after the end of each quarter (45 days for the final quarter) |
| BE-11 | U.S. persons with certain majority or minority-owned foreign affiliates | Annually | May 2021 (anticipated) |
Other BEA International Surveys: Foreign Direct Investment in the United States |
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| Form | Applicability | Frequency | Next Due Date |
| BE-13 | Certain U.S. business enterprises owned by or affiliated with a foreign business enterprise |
Transaction-based |
45 days after foreign entity investment or expansion in the United States |
| BE-605 | Certain U.S. business enterprises owned by or affiliated with a foreign business enterprise |
Quarterly | 30 days after the end of each quarter (45 days for the final quarter) |
| BE-15 | U.S. business enterprises owned or controlled directly or indirectly by a foreign person |
Annually | May 31, 2020 (June 30 for reports submitting via eFile) |
The facts, laws, and regulations regarding COVID-19 are developing rapidly. Since the date of publication, there may be new or additional information not referenced in this advisory. Please consult with your legal counsel for guidance.
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