Deadlines Fast Approaching for U.S. Companies with Foreign Subsidiaries to Report Foreign Investment to Commerce
Client Alert | 1 min read | 05.18.15
The U.S. Department of Commerce's Bureau of Economic Analysis (BEA) is currently conducting a Benchmark Survey of U.S. Direct Investment Abroad (BE-10 Survey) for 2014 and, unlike in prior years, BEA is requiring every U.S. entity with more than a 10 percent ownership interest in a foreign entity, whether direct or indirect, to submit a report on behalf of themselves and their U.S. subsidiaries.
U.S. companies are responsible for submitting a Form BE-10A on behalf of the company's consolidated domestic business enterprise, and Forms BE-10B, BE-10C, or BE-10D, as appropriate, on behalf of each foreign affiliate. Participation in the survey is mandatory and failure to file a required report could result in civil or criminal penalties and an injunction compelling responses.
The number of foreign affiliates dictates whether the deadline is May 29, 2015 (<50 forms) or June 30, 2015 (>50 forms).
Because these deadlines are fast approaching, companies might consider seeking an extension, a form for which is available here.
The BE-10 Report forms and instructions are available here.
Contacts
Director of International Trade Services
Insights
Client Alert | 3 min read | 12.13.24
New FTC Telemarketing Sales Rule Amendments
The Federal Trade Commission (“FTC”) recently announced that it approved final amendments to its Telemarketing Sales Rule (“TSR”), broadening the rule’s coverage to inbound calls for technical support (“Tech Support”) services. For example, if a Tech Support company presents a pop-up alert (such as one that claims consumers’ computers or other devices are infected with malware or other problems) or uses a direct mail solicitation to induce consumers to call about Tech Support services, that conduct would violate the amended TSR.
Client Alert | 3 min read | 12.10.24
Fast Lane to the Future: FCC Greenlights Smarter, Safer Cars
Client Alert | 6 min read | 12.09.24
Eleven States Sue Asset Managers Alleging ESG Conspiracy to Restrict Coal Production
Client Alert | 3 min read | 12.09.24
New York Department of Labor Issues Guidance Regarding Paid Prenatal Leave, Taking Effect January 1
