Form BE-11: Only Entities Contacted by BEA to Report for 2012

Feb. 8, 2013

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.

Authored by: Andrew B. Kales

Circular 230 Disclosure: Internal Revenue Service regulations provide that, for the purpose of avoiding certain penalties under the Internal Revenue Code, taxpayers may rely only on opinions of counsel that meet specific requirements set forth in the regulations, including a requirement that such opinions contain extensive factual and legal discussion and analysis. Any tax advice that may be contained herein does not constitute an opinion that meets the requirements of the regulations. Any such tax advice therefore cannot be used, and was not intended or written to be used, for the purpose of avoiding any federal tax penalties that the Internal Revenue Service may attempt to impose.

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