Proposal To Collect Information on the Initial Report on a Foreign Person's Direct or Indirect Acquisition, Establishment, or Purchase of the Operating Assets, of a U.S. Business Enterprise, 10475 [E6-2819]

Agencies

• DEPARTMENT OF COMMERCE
• Bureau of Economic Analysis
• Economic Analysis Bureau

[Federal Register Volume 71, Number 40 (Wednesday, March 1, 2006)]
[Notices]
[Page 10475]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-2819]



[[Page 10475]]

-----------------------------------------------------------------------

DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposal To Collect Information on the Initial Report on a 
Foreign Person's Direct or Indirect Acquisition, Establishment, or 
Purchase of the Operating Assets, of a U.S. Business Enterprise

ACTION: Proposed collection; comment request.

-----------------------------------------------------------------------

SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to comment on proposed and/or continuing 
information collections, as required by the Paperwork Reduction Act of 
1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments must be submitted on or before 5 p.m., May 1, 
2006.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Office of the Chief Information Officer, 
Department of Commerce, Room 6625, 14th and Constitution Avenue, NW., 
Washington, DC 20230, or via the Internet at dhynek@doc.gov, (202) 482-
0266.

FOR FURTHER INFORMATION CONTACT: Direct requests for additional 
information or copies of the survey forms and instructions to: Joseph 
F. Cherry III, Chief, Direct Investment in the United States Branch, 
International Investment Division (BE-49NI), Bureau of Economic 
Analysis, U.S. Department of Commerce, Washington, DC 20230, phone: 
(202) 606-9817; fax: (202) 606-5319; or via the Internet at 
joseph.cherry@bea.gov.

SUPPLEMENTARY INFORMATION: 

I. Abstract

    The Initial Report on a Foreign Person's Direct or Indirect 
Acquisition, Establishment, or Purchase of the Operating Assets, of a 
U.S. Business Enterprise, Including Real Estate (Form BE-13) and the 
Report by a U.S. Person Who Assists or Intervenes in the Acquisition of 
a U.S. Business Enterprise by, or Who Enters Into a Joint Venture with, 
a Foreign Person (Form BE-14), obtain initial data on new foreign 
direct investment in the United States. The surveys collect 
identification information on the U.S. business being established or 
acquired and on the new foreign owner, information on the cost of the 
investment and source of funding, and limited financial and operating 
data for the newly established or acquired entity. The data are needed 
to measure the amount of new foreign direct investment in the United 
States, assess its impact on the U.S. economy, and, based upon this 
assessment, make informed policy decisions regarding foreign direct 
investment in the United States. The information from the survey is 
also used to build sample frames for other BEA surveys of foreign 
direct investment in the United States, including the quarterly balance 
of payments survey (form BE-605).
    The data from the survey are primarily intended as general purpose 
statistics. They should be readily available to answer any number of 
research and policy questions related to new foreign direct investment 
in the United States.
    The forms remain the same as in the past. No changes in the data 
collected or in exemption levels are proposed.

II. Method of Collection

    Form BE-13 must be filed by every U.S. business with over $3 
million of assets or cost of investment, or 200 or more acres of U.S. 
land, that is acquired to the extent of 10 percent or more, or is 
established, by a foreign investor. It is a one-time report that must 
be filed within 45 days of the acquisition or establishment. A BE-13 
Supplement C--Exemption Claim--must be filed for transactions that do 
not meet either of the reporting thresholds. Form BE-14 is filed by a 
person who assists in an investment transaction, such as a real estate 
broker or attorney, or who enters into a U.S. joint venture with a 
foreign person. Its purpose is to provide BEA with the name and address 
of the newly established or acquired U.S. company, so that a BE-13 form 
can be mailed to it for completion. A BE-14 is not filed, however, if a 
U.S. person files a BE-13 relating to the establishment or acquisition 
of the U.S. business enterprise by a foreign person.

III. Data

    OMB Number: 0608-0035.
    Form Numbers: BE-13/BE-14.
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 600 annually.
    Estimated Time Per Response: 1\1/2\ hours.
    Estimated Total Annual Burden: 900 hours.
    Estimated Total Annual Cost: $36,000 (based on an estimated 
reporting burden of 900 hours and an estimated hourly cost of $40).

    Legal Authority: The International Investment and Trade in 
Services Survey Act, 22 U.S.C. 3101-3108, as amended.

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the Agency, including whether the information will have practical 
utility; (b) the accuracy of the Agency's estimate of the burden 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: February 23, 2006.
Madeleine Clayton,
Management Analyst, Office of Chief Information Officer.
[FR Doc. E6-2819 Filed 2-28-06; 8:45 am]
BILLING CODE 3510-06-P