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Jan 8 -- The U.S. Bureau of Economic Analysis (BEA) invites public comment on its request of OMB to approve renewal of the Quarterly Survey of Foreign Direct Investment in the United States--Transactions of U.S. Affiliate with Foreign Parent (BE-605). Comments should be submitted by February 15, 2021.
 
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 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.
 
Quarterly data are released four times a year, approximately 80 days after the close of the quarter, as part of the U.S. international transactions and international investment position accounts. Detail by country, industry, and component are published each July in the direct investment by country and industry release. An analysis of the annual data appears in BEA’s monthly online journal, the Survey of Current Business, in a visual essay each August.
 
The potential respondent universe for the BE-605 survey is derived from the benchmark survey of foreign direct investment in the United States, BE-12, which consists of all U.S. business enterprises in which a foreign person owns or controls, directly 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, except certain private funds.  Sample selection for the U.S. affiliates that must report quarterly is determined by the size of the U.S. affiliate’s (1) total assets, (2) annual sales or gross operating revenues, or (3) annual net income after provision for U.S. income taxes.  A U.S. affiliate must report if any one of the three items for the affiliate (not the foreign parent’s share) was greater than $60 million (positive or negative) at any time during the affiliate’s fiscal year.  Indirectly foreign-owned affiliates must report if the basic requirement above is met and they have direct transactions with their affiliated foreign groups.  Affiliates with multiple foreign parents must file one report for each foreign parent.
 
Quarterly FDI data: https://www.bea.gov/international/di1fdibal
BE-605 submission to OMB: https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202011-0608-001 Click on IC List for data collection instruments, View Supporting Statement for narrative on nature, uses, plans, and methods.
FR notice inviting comment: https://www.federalregister.gov/documents/2021/01/08/2021-00085/agency-information-collection-activities-submission-to-the-office-of-management-and-budget-omb-for

Point of contact: Jessica Hanson, Chief, Direct Transactions and Positions Branch Jessica.Hanson@bea.gov 301-278-9595
 
For AEA members wishing to submit comments, "A Primer on How to Respond to Calls for Comment on Federal Data Collections" is available at https://www.aeaweb.org/content/file?id=5806

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