Proposal To Collect Information on Transactions of U.S. Affiliates With Their Foreign Parents, 58578-58579 [E6-16327]

Agencies

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

[Federal Register Volume 71, Number 192 (Wednesday, October 4, 2006)]
[Notices]
[Pages 58578-58579]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-16327]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposal To Collect Information on Transactions of U.S. 
Affiliates With Their Foreign Parents

ACTION: Proposed collection; comment request.

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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)).

[[Page 58579]]


DATES: Written comments must be submitted on or before 5 p.m., December 
4, 2006.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th 
and Constitution Avenue, NW., Washington, DC 20230 (or e-mail 
dhynek@doc.gov).

FOR FURTHER INFORMATION CONTACT: Obie G. Whichard, Chief, International 
Investment Division, (BE-50), Bureau of Economic Analysis, U.S. 
Department of Commerce, Washington, DC 20230; phone (202) 606-9890 (or 
e-mail obie.whichard@bea.gov).

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Transactions of U.S. Affiliates, Except a U.S. Banking 
Affiliate, with Foreign Parent (Form BE-605) and Transactions of U.S. 
Banking Affiliate with Foreign Parent (Form BE-605 Bank) obtain 
quarterly sample 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 data collected are used in the preparation of the U.S. 
international transactions accounts, national income and product 
accounts, and input-output accounts. The data are needed to measure the 
amount of foreign direct investment in the United States, monitor 
changes in such investment, assess its impact on the U.S. and foreign 
economies and, based upon this assessment, make informed policy 
decisions regarding foreign direct investment in the United States.
    BEA proposes the following changes to the survey to reduce 
respondent burden: (1) Redesign Form BE-605 to incorporate all 
instructions into the form, placing them, for the most part, on the 
pages facing the items to be reported; convert the most complicated 
instructions into separate line item questions; and, to further clarify 
the reporting requirements, include illustrative diagrams adjacent to 
questions pertaining to the ownership structure of the U.S. business 
enterprise and its affiliated foreign groups. (2) Delete questions from 
Form BE-605 and BE-605 Bank requesting information on receipts and 
payments for services transactions between the U.S. business enterprise 
and its affiliated foreign groups. BEA will propose to include these 
questions on its surveys covering trade in services, beginning with the 
first quarter of calendar year 2007.

II. Method of Collection

    Forms BE-605 and BE-605 Bank are quarterly reports that must be 
filed within 30 days after the end of each quarter (45 days after the 
final quarter of the respondent's fiscal year) by every U.S. business 
enterprise that is owned 10 percent or more by a foreign investor and 
that has total assets, sales or gross operating revenues, or net income 
(positive or negative) of over $30 million. Potential respondents are 
those U.S. business enterprises that were required to report in the BE-
12, Benchmark Survey of Foreign Direct Investment in the United 
States--2002, along with those U.S. business enterprises that 
subsequently entered the direct investment universe. The data collected 
are sample data covering transactions and positions between foreign-
owned U.S. business enterprises and their affiliated foreign groups. 
Universe estimates are developed from the reported sample data.

III. Data

    OMB Number: 0608-0009.
    Form Number: BE-605/BE-605 Bank.
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 3,950 per quarter; 15,800 
annually.
    Estimated Time Per Response: 1 hour.
    Estimated Total Annual Burden Hours: 15,800.
    Estimated Total Annual Cost: $632,000 (based on an estimated 
reporting burden of 15,800 hours and an estimated hourly cost of $40).

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: September 28, 2006.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. E6-16327 Filed 10-3-06; 8:45 am]
BILLING CODE 3510-06-P