BEA Reporting Requirements – Foreign Direct Investments in the United States (Due May 31, 2023)

​The Bureau of Economic Analysis ("BEA"), part of the U.S. Department of Commerce, requires that various quarterly, annual, 5-year, and other specific surveys be filed (see link to BEA website for more information on all of the surveys A Guide to BEA's Direct Investment Surveys).  The BEA's most comprehensive 5-year survey for foreign direct investment into the United States (BE-12 series of forms) is due on May 31, 2023 (June 30, 2023 if filed electronically) covering fiscal years ending in 2022.  One of the BE-12 series of forms (BE-12A, BE-12B, BE-12C, or BE-12 Claim for Not Filing) must be filed by all U.S. affiliates that are at least 10% owned directly or indirectly by a foreign person. In addition, if the U.S. affiliate is owned less than 10% directly or indirectly by a foreign person and was contacted by the BEA about reporting on the BE-12 survey, then it must file the BE-12 Claim for Not Filing.  Any U.S. affiliate which is owned less than 10% directly or indirectly by a foreign person and was not contacted by the BEA about reporting on the BE-12 survey is not required to file any BE-12 report.  The chart on the BEA website (Which-BE-12-Form-Do-I-File-2022.pdf (bea.gov)) can be utilized to determine which of the BE-12 reports should be filed by your U.S. entity.  Please note that although the chart (as of the date of this Client Letter) shows that all U.S. entities that are owned less than 10% by a foreign person must file a BE-12 Claim for Not Filing, the BEA has confirmed that entities that are less than 10% owned by foreign persons are only required to file the BE-12 Claim for Not Filing if they have been contacted by the BEA.  At the time of this writing, the 2022 BE-12 reports are not yet available; however, they should be available on the BEA web site by early March.  Failing to file Form BE-12 can result in civil penalties.

The surveys of foreign direct investment in the U.S. may be filed via paper or electronically through BEA's eFile system on their web site at BE-12 Benchmark Survey: Foreign Direct Investment in the United States | U.S. Bureau of Economic Analysis (BEA).  This site also contains additional information and the answers to Frequently Asked Questions.

If you have additional questions or would like assistance in determining your filing requirements or filing the forms, please contact your Rödl & Partner representative.

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