The Bureau of Economic Analysis (BEA) requires a survey of U.S. Direct Investment Abroad every five years. The next survey will be due in May or June for the 2019 calendar year.
Required Filers for BEA Survey
Any U.S. person that had direct or indirect ownership or control of at least 10 percent of the voting stock of an incorporated foreign business enterprise, or an equivalent interest in an unincorporated foreign business enterprise or foreign rental property, at any time during their 2019 fiscal year, is required to file a Form Series BE-10 information report with the BEA for analytical and statistical purposes.
Under changes implemented since the previous BE-10 required filing, investments by U.S. entities of a 10 percent or more voting interest in a foreign private fund, and investments by foreign entities of a 10 percent or more voting interest in a U.S. domiciled private fund may not be required to report on BEA direct investment surveys if they meet both the following criteria:
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Filing Deadlines and Requirements
U.S. reporters required to file fewer than 50 BE-10 Forms have until May 29, 2020, to file information related to 2019. U.S. reporters required to file 50 or more BE-10 Forms have until June 30, 2020, to file information related to 2019. However, an extension to file may be granted based on providing substantive and detailed information as to why the extension is necessary. Penalties for failure to file can reach $48,192, and if the failure to file is willful, $10,000 can be added to the total.
While the BEA may send out Form Series BE-10 to prior BEA filers, failure to receive Form Series BE-10 from the BEA does not relieve any U.S. person from the requirement to file. In addition, if a prior BEA filer, no longer required to file, receives a Form Series BE-10 from the BEA, they must still complete and file Form BE-10-Claim for Not Filing to report the change in status.
Filers can find Instructions for BE-10 and a link to electronically file the Form BE-10 here.