The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on intended for general information purposes only. You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. You should also begin working with counsel and accountants to collect the information for responding to the BE-12 survey, to meet the filing deadline. If so, then you should discuss the filing requirements with the foreign owner. If your business has foreign ownership, then you should evaluate whether to file Form BE-12. Data reported on BEA’s surveys are not subject to FOIA requests. BEA is prohibited from granting another agency access to the data for tax, investigative, or regulatory purposes. It specifies that the survey data may only be used for statistical and analytical purposes. Are filings confidential?Ī federal statute protects the confidentiality of the data that companies report. But, if you were notified to file but do not meet the filing requirement shown above, you only need to complete and submit a BE-12 Claim for Not Filing. business enterprises.Īll entities that meet reporting requirements must respond, whether or not contacted by BEA. There are a limited number of exemptions that may apply to certain U.S. business enterprise)-at the end of the business enterprise’s fiscal year that ended in calendar year 2022. business enterprise (or an equivalent interest if an unincorporated U.S. business enterprise (including real estate held for non-personal use) in which a foreign person or entity owned or controlled (directly or indirectly) 10 percent or more of the voting securities if an incorporated U.S. business enterprises that are contacted by BEA but that are not subject to the reporting requirements.Ī BE-12 report is required for each U.S. business enterprises that have total assets, sales or gross operating revenues, or net income of $60 million or less.īE-12 Claim for Not Filing is for U.S. business enterprises that have total assets, sales or gross operating revenues, or net income of more than $60 million.īE-12C is for other foreign-owned U.S. business enterprises that have total assets, sales or gross operating revenues, or net income of between $60 million and $300 million.īE-12B is also for minority foreign-owned U.S. business enterprises that have total assets, sales or gross operating revenues, or net income of more than $300 million (positive or negative).īE-12B is for majority foreign-owned U.S. The specific version to file depends both: (1) on whether the foreign ownership is majority or minority and (2) on the business’s total assets, sales or gross operating revenues, or net income.īE-12A is for majority foreign-owned U.S. There are multiple versions of Form BE-12. BEA’s reports inform decisions by business leaders, policymakers, and researchers. BEA uses the survey to prepare statistical reports on the scale and effects of foreign-owned business activities. The BE-12 is BEA’s most comprehensive survey of the financial and operating data of U.S. Unlike the annual BE-15 survey, all business enterprises subject to the reporting requirement must file the BE-12, whether or not contacted by BEA. business enterprises in which a foreign person owns or controls-directly or indirectly-10 percent or more of the voting securities (or an equivalent interest). For companies that e-file the form, the deadline is extended to June 30, 2023.įorm BE-12 must be filed by all U.S. Form BE-12 is the comprehensive benchmark survey of foreign direct investment in the U.S., which BEA conducts every 5 years. Public Services, Infrastructure, Transportationīy May 31, 2023, foreign-owned companies must file Form BE-12 to the Bureau of Economic Analysis (“BEA”).
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