The Bureau of Economic Analysis (the “BEA”) published a notice in the Federal Register on February 7, 2013 (the “Notice”), notifying the public that it is conducting its annual BE-11 survey. Form BE-11 collects information on U.S. direct investment abroad.
The Notice clears up the confusion about who is required to file Form BE-11. Generally, BE-11 reports are required from each U.S. person that owns or controls, directly or indirectly, 10% or more of the voting securities of a foreign incorporated or unincorporated business enterprise. However, the Notice provides that only entities contacted individually by the BEA will be required to report on Form BE-11. According to the Notice, entities not contacted by the BEA have no reporting responsibilities.
BE-11 reports covering data for the 2012 fiscal year are due to the BEA by May 31, 2013.
A copy of the Notice may be found here.
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This article was originally published by Bingham McCutchen LLP.