Notice2023-24618
Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Direct Investment Surveys: BE-605, Quarterly Survey of Foreign Direct Investment in the United States-Transactions of U.S. Affiliate With Foreign Parent
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
November 8, 2023
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
<html>
<head>
<title>Federal Register, Volume 88 Issue 215 (Wednesday, November 8, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 215 (Wednesday, November 8, 2023)]
[Notices]
[Pages 77077-77078]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-24618]
-----------------------------------------------------------------------
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-605, Quarterly Survey of Foreign
Direct Investment in the United States--Transactions of U.S. Affiliate
With Foreign Parent
AGENCY: Bureau of Economic Analysis, Department of Commerce.
ACTION: Notice of information collection, request for comment.
-----------------------------------------------------------------------
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: Written comments must be submitted on or before January 8, 2024.
ADDRESSES: Interested persons are invited to submit written comments to
Jessica Hanson, Chief, Direct Investment Division, Bureau of Economic
Analysis, U.S. Department of Commerce, by email to
<a href="/cdn-cgi/l/email-protection#52183721213b31337c1a333c213d3c123037337c353d24"><span class="__cf_email__" data-cfemail="a5efc0d6d6ccc6c48bedc4cbd6cacbe5c7c0c48bc2cad3">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#bceceefddfd3d1d1d9d2c8cffcd8d3df92dbd3ca"><span class="__cf_email__" data-cfemail="a5f5f7e4c6cac8c8c0cbd1d6e5c1cac68bc2cad3">[email protected]</span></a>. Please reference OMB
Control Number 0608-0009 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 Jessica Hanson, Chief, Direct Investment Division, Bureau of
Economic Analysis, U.S. Department of Commerce; via phone at (301) 278-
9595; or via email at <a href="/cdn-cgi/l/email-protection#b7fdd2c4c4ded4d699ffd6d9c4d8d9f7d5d2d699d0d8c1"><span class="__cf_email__" data-cfemail="1f557a6c6c767c7e31577e716c70715f7d7a7e31787069">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
I. Abstract
The Quarterly Survey of Foreign Direct Investment in the United
States--Transactions of U.S. Affiliate with Foreign Parent (Form BE-
605) obtains quarterly data on transactions and positions between
foreign-owned U.S. business enterprises and their ``affiliated foreign
groups'' (i.e., their foreign parents and foreign affiliates of their
foreign parents). The survey is a sample survey that covers all U.S.
affiliates
[[Page 77078]]
above a size-exemption level. The sample data are used to derive
universe estimates of direct investment transactions, positions, and
income in nonbenchmark years from similar data reported in the BE-12,
Benchmark Survey of Foreign Direct Investment in the United States,
which is conducted every five years. The data collected through the BE-
605 survey are essential for the preparation of the U.S. international
transactions, national income and product, and input-output accounts
and the net international investment position of the United States. The
data are needed to measure the size and economic significance of
foreign direct investment in the United States, measure changes in such
investment, and assess its impact on the U.S. economy. The Bureau of
Economic Analysis (BEA) is not proposing any changes to the BE-605
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, or 45 days if the report is for the
final quarter of the respondent's financial reporting year. Reports are
required from every U.S. business enterprise in which a foreign entity
owns, directly and/or indirectly, 10 percent or more of the voting
securities of the U.S. business enterprise if it is incorporated, or an
equivalent interest if it is unincorporated, at any time during the
quarter, and that meets the additional conditions detailed in Form BE-
605. 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 include those U.S. business enterprises that
were required to report on the BE-12, Benchmark Survey of Foreign
Direct Investment in the United States--2017, along with those U.S.
business enterprises that subsequently have become at least partly
foreign owned. 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-605 survey forms. In
addition, BEA posts its survey forms and reporting instructions on its
website (<a href="http://www.bea.gov/fdi">www.bea.gov/fdi</a>).
III. Data
OMB Control Number: 0608-0009.
Form Number: BE-605.
Type of Review: Regular submission, reinstatement without change.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 6,500 per quarter, 26,000
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: 26,000.
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 Bureau of Economic
Analysis 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 Under Secretary for
Economic Affairs, Commerce Department.
[FR Doc. 2023-24618 Filed 11-7-23; 8:45 am]
BILLING CODE 3510-06-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on November 8, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.