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Oct 23 -- The Bureau of Economic Analysis (BEA) indicates its plan to ask OMB to renew BE-605: Quarterly Survey of Foreign Direct Investment in the United States-Transactions of U.S. Affiliate With Foreign Parent for 2021-23 and invites public comment on its proposal by December 22, 2020.
 
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 above a size-exemption level. The sample data are used to derive universe estimates of direct investment transactions, positions, and income in non-benchmark 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 and will next be conducted for the fiscal year ending in 2022. 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 proposed changes to the BE-605 survey form are relatively minor and aim to clarify when changes in ownership are made. These changes should improve the efficiency of the survey data review process and reduce the need for follow-up contact with respondents. Additionally, the Bureau of Economic Analysis (BEA) proposes to remove a question that has not met its intended goal of assisting to identify potential respondents for the BE-13, Survey of New Foreign Direct Investment in the United States. BEA also plans to make improvements to question wording, instructions, and formatting to elicit more complete and correct responses.
 
Activities of U.S. Affiliates of Foreign Multinational Enterprises (MNEs)  https://www.bea.gov/data/intl-trade-investment/activities-us-affiliates-foreign-mnes  
FR notice inviting comment: https://www.federalregister.gov/documents/2020/10/23/2020-23535/agency-information-collection-activities-submission-to-the-office-of-management-and-budget-omb-for
Current BE-605 survey instrument: https://www.bea.gov/system/files/2020-04/BE-605.pdf
Current BE-605 supporting statement: https://www.reginfo.gov/public/do/PRAViewDocument?ref_nbr=202004-0608-001  
Point of contact: Jessica Hanson, Chief, Direct Transactions and Positions Branch, Bureau of Economic Analysis   Jessica.Hanson@bea.gov   301-278-9595

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