Notice2022-12819
Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Direct Investment Surveys: BE-577, Quarterly Survey of U.S. Direct Investment Abroad-Transactions of U.S. Reporter With Foreign Affiliate
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 14, 2022
Issuing agencies
Commerce DepartmentEconomic Analysis Bureau
Abstract
The Department of Commerce, in accordance with the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to comment on proposed, and continuing information collections, which helps us assess the impact of our information collection requirements and minimize the public's reporting burden. The purpose of this notice is to allow for 60 days of public comment preceding submission of the collection to OMB.
Full Text
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<title>Federal Register, Volume 87 Issue 114 (Tuesday, June 14, 2022)</title>
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[Federal Register Volume 87, Number 114 (Tuesday, June 14, 2022)]
[Notices]
[Pages 35966-35967]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-12819]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Agency Information Collection Activities; Submission to the
Office of Management and Budget (OMB) for Review and Approval; Comment
Request; Direct Investment Surveys: BE-577, Quarterly Survey of U.S.
Direct Investment Abroad--Transactions of U.S. Reporter With Foreign
Affiliate
AGENCY: Bureau of Economic Analysis, Department of Commerce.
ACTION: Notice of information collection, request for comment.
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SUMMARY: The Department of Commerce, in accordance with the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to comment on proposed, and continuing information
collections, which helps us assess the impact of our information
collection requirements and minimize the public's reporting burden. The
purpose of this notice is to allow for 60 days of public comment
preceding submission of the collection to OMB.
DATES: To ensure consideration, comments regarding this proposed
information collection must be received on or before August 15, 2022.
ADDRESSES: Interested persons are invited to submit written comments to
Ricardo Limes, Chief, Direct Transactions and Positions Branch, Bureau
of Economic Analysis, U.S. Department of Commerce, by email to
<a href="/cdn-cgi/l/email-protection#b5e7dcd6d4c7d1da9bd9dcd8d0c6f5d7d0d49bd2dac3"><span class="__cf_email__" data-cfemail="de8cb7bdbfacbab1f0b2b7b3bbad9ebcbbbff0b9b1a8">[email protected]</span></a> or <a href="/cdn-cgi/l/email-protection#6c3c3e2d0f0301010902181f2c08030f420b031a"><span class="__cf_email__" data-cfemail="c2929083a1adafafa7acb6b182a6ada1eca5adb4">[email protected]</span></a>. Please reference OMB
Control Number 0608-0004 in the subject line of your comments. Do not
submit Confidential Business Information or otherwise sensitive or
protected information.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
specific questions related to collection activities should be directed
to Ricardo Limes, Chief, Multinational Operations Branch, Bureau of
Economic Analysis, U.S. Department of Commerce; via phone at (301) 278-
9659; or via email at <a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="b6e4dfd5d7c4d2d998fadfdbd3c5f6d4d3d798d1d9c0">[email protected]</a>.
SUPPLEMENTARY INFORMATION:
I. Abstract
The Quarterly Survey of U.S. Direct Investment Abroad--Transactions
of U.S. Reporter with Foreign Affiliate (Form BE-577) obtains quarterly
data on transactions and positions between U.S.-owned foreign business
enterprises and their U.S. parents, except certain private funds. The
survey is a sample survey that covers all foreign affiliates above a
size-exemption level. The sample data are used to derive universe
estimates in nonbenchmark years from similar data reported in the BE-
10, Benchmark Survey of U.S. Direct Investment Abroad, which is
conducted every five years. The data are essential for the preparation
of the U.S. international transactions accounts, the national income
and product accounts, the input-output accounts, and the international
investment position of the United States. The data are needed to
measure the size and economic significance of direct investment abroad,
measure changes in such investment, and assess its impact on the U.S.
and foreign economies. The Bureau of Economic Analysis (BEA) is not
proposing any changes to the BE-577 survey.
II. Method of Collection
Notice of specific reporting requirements, including who is to
report, the information to be reported, the manner of reporting, and
the time and place of filing reports, will be mailed to potential
respondents each quarter. Reports are due 30 days after the close of
each calendar or fiscal quarter--45 days if the report is for the final
quarter of the respondent's financial reporting year. Reports are
required from each U.S. person that has a direct and/or indirect
ownership interest of at least 10 percent of the voting stock in an
incorporated foreign business enterprise, or an equivalent interest in
an unincorporated foreign business enterprise, and that meets the
additional conditions detailed in Form BE-577. Certain private funds
are exempt from reporting. Entities required to report will be
contacted individually by BEA. Entities not contacted by BEA have no
reporting responsibilities.
Potential respondents are those U.S. business enterprises that
reported owning foreign business enterprises in the 2019 benchmark
survey of U.S. direct investment abroad, along with entities that
subsequently entered the direct investment universe. The data collected
are sample data. Universe estimates are developed from the reported
sample data.
BEA offers electronic filing through its eFile system (<a href="http://www.bea.gov/efile">www.bea.gov/efile</a>) for use in reporting on the BE-577 survey forms. In addition,
BEA posts its survey forms and reporting instructions on its website
(<a href="http://www.bea.gov/dia">www.bea.gov/dia</a>).
III. Data
OMB Control Number: 0608-0004.
Form Number: BE-577.
[[Page 35967]]
Type of Review: Regular submission, reinstatement without change.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 3,500 U.S. parents filing for
22,700 foreign affiliates per quarter, 90,800 annually.
Estimated Time per Response: 1 hour is the average but may vary
considerably among respondents because of differences in company
structure and complexity.
Estimated Total Annual Burden Hours: 90,800.
Estimated Total Annual Cost to Public: $0.
Respondent's Obligation: Mandatory.
Legal Authority: International Investment and Trade in Services
Survey Act (Pub. L. 94-472, 22 U.S.C. 3101-3108, as amended by Pub. L.
98-573 and Pub. L. 101-533).
IV. Request for Comments
We are soliciting public comments to permit the Department/Bureau
to: (a) Evaluate whether the proposed information collection is
necessary for the proper functions of the Department, including whether
the information will have practical utility; (b) Evaluate the accuracy
of our estimate of the time and cost burden for this proposed
collection, including the validity of the methodology and assumptions
used; (c) Evaluate ways to enhance the quality, utility, and clarity of
the information to be collected; and (d) Minimize the reporting burden
on those who are to respond, including the use of automated collection
techniques or other forms of information technology.
Comments that you submit in response to this notice are a matter of
public record. We will include or summarize each comment in our request
to OMB to approve this ICR. Before including your address, phone
number, email address, or other personal identifying information in
your comment, you should be aware that your entire comment--including
your personal identifying information--may be made publicly available
at any time. While you may ask us in your comment to withhold your
personal identifying information from public review, we cannot
guarantee that we will be able to do so.
Sheleen Dumas,
Department PRA Clearance Officer, Office of the Chief Information
Officer, Commerce Department.
[FR Doc. 2022-12819 Filed 6-13-22; 8:45 am]
BILLING CODE 3510-06-P
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