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BEA Reporting Requirements – Investments Outside the U.S.

Rödl & Partner Tax Matters Vol 2015 – 7, republished in July 2024

A variety of surveys are required by the U.S. Commerce Department’s Bureau of Economic Analysis (“BEA”) related to foreign direct investment in the U.S. In addition to these surveys, the BEA also requires various reporting for U.S. direct investment abroad. The next BEA 5 Year Survey (BE-10 series of forms) will be due in 2025. A one time extension can be granted if 50 or fewer forms are expected to be filed. Further extensions can be granted for filing in excess of 50 forms. We will publish the exact deadlines when they become available closer to 2025. The BE-10 series of forms must be filed by U.S. persons (both entities and individuals) who own 10% or more of the voting securities of an incorporated foreign business enterprise or an equivalent interest in an unincorporated foreign business enterprise. Please note there are special rules for determining who is a resident individual as defined on page 5 of the Form BE-10 instructions.

Filing of Form BE-10 is required for U.S. persons who meet the filing requirements regardless of whether the U.S. person has been contacted by the BEA. Please note that pursuant to the BEA’s frequently asked questions, a U.S. person that otherwise does not meet the filing requirements must still file Form BE-10 “Claim for Not Filing” if it has been contacted in advance by the BEA about filing Form BE-10; otherwise a U.S. person that does not meet the filing requirements and that has not been contacted by BEA is not required to file any BE-10 form. Thus, the BE-10 series of forms would be applicable only for U.S. persons (individuals or entities) who meet the filing requirements by having a 10% or more ownership interest in a foreign enterprise.

Failing to file Form BE-10 can result in a civil penalty of not less than $2,500, and not more than $25,000. Willful failure to report results in a penalty of not more than $10,000. In addition to the penalty, an individual who willfully fails to file may be imprisoned for not more than one year. Any officer, director, employee, or agent of any corporation who knowingly participates in such violations, upon conviction, may be punished by a like fine, imprisonment or both.

In addition to Form BE-10, there are a number of other surveys required by the BEA for U.S. investment abroad. Form BE-577 is a quarterly survey that must be filed by certain entities only if they have been contacted by the BEA. Similarly, Form BE-11 is an annual series of survey forms that must be filed by certain entities only if contacted by the BEA.

For more details regarding the filing requirements, please refer to the attached information from the BEA “A Guide to BEA’s Direct Investment Surveys” which summarizes not only the BE-10 benchmark survey but also the BE-577 quarterly survey and the BE-11 annual survey. Please also refer to the attached BE-10 instructions as well as the extension request form.

If you have any questions, please contact your Rödl & Partner representative.

This publication contains general information and is not intended to be comprehensive or to provide legal, tax or other professional advice or services. This publication is not a substitute for such professional advice or services, and it should not be acted on or relied upon or used as a basis for any decision or action that may affect you or your business. Consult your advisor.

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