Direct Investment Surveys: BE-12, Benchmark Survey of Foreign Direct Investment in the United States, 58420-58424 [2011-24267]
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TABLE 1—COMPLIANCE TIMES FOR INSPECTIONS—Continued
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L–1011–385–1–15 having accumulated 5,600 or more flight cycles
after the accomplishment of Lockheed Martin Service Bulletin 093–
57–184, 093–57–196, or 093–57–
215; as of the effective date of
this AD; Zones 1A through 1E
(NDI).
L–1011–385–1–15 having accumulated 5,600 or more flight cycles
after the accomplishment of Lockheed Martin Service Bulletin 093–
57–184, 093–57–196, or 093–57–
215; as of the effective date of
this AD; Zone 1F (Detailed Inspection).
L–1011–385–3 having accumulated
fewer than 8,400 flight cycles
after the accomplishment of Lockheed Martin Service Bulletin 093–
57–184, 093–57–196, or 093–57–
215; as of the effective date of
this AD; Zones 1A through 1E
(NDI).
L–1011–385–3 having accumulated
fewer than 8,400 flight cycles
after the accomplishment of Lockheed Martin Service Bulletin 093–
57–184, 093–57–196, or 093–57–
215; as of the effective date of
this AD; Zone 1F (Detailed Inspection).
L–1011–385–3 having accumulated
8,400 or more flight cycles after
the accomplishment of Lockheed
Martin Service Bulletin 093–57–
184, 093–57–196, or 093–57–
215; as of the effective date of
this AD; Zones 1A through 1E
(NDI).
L–1011–385–3 having accumulated
8,400 or more flight cycles after
the accomplishment of Lockheed
Martin Service Bulletin 093–57–
184, 093–57–196, or 093–57–
215; as of the effective date of
this AD; Zone 1F (Detailed Inspection).
Within 1,000 flight cycles or 12
months after the effective date of
this AD, whichever occurs first.
N/A ...................................................
500 flight cycles.
Within 60 flight cycles after the effective date of this AD.
Within 30 days after the effective
date of this AD.
60 flight cycles.
Within 8,400 flight cycles or 10
years after the accomplishment of
Lockheed Martin Service Bulletin
093–57–184, 093–57–196, or
093–57–215, whichever occurs
first.
Within 1,000 flight cycles after the
effective date of this AD.
1,200 flight cycles.
Within 90 flight cycles or 30 days
after the effective date of this AD,
whichever occurs later.
Within 85 flight cycles or 30 days
after the effective date of this AD,
whichever occurs later.
85 flight cycles.
Within 1,000 flight cycles or 12
months after the effective date of
this AD, whichever occurs first.
N/A ...................................................
1,200 flight cycles.
Within 85 flight cycles after the effective date of this AD.
Within 30 days after the effective
date of this AD.
85 flight cycles.
Alternative Methods of Compliance
(AMOCs)
(l)(1) The Manager, Atlanta ACO, FAA, has
the authority to approve AMOCs for this AD,
if requested using the procedures found in 14
CFR 39.19. In accordance with 14 CFR 39.19,
send your request to your principal inspector
or local Flight Standards District Office, as
appropriate. If sending information directly
to the manager of the ACO, send it to the
attention of the person identified in the
Related Information section of this AD.
(2) Before using any approved AMOC,
notify your appropriate principal inspector,
or lacking a principal inspector, the manager
of the local flight standards district office/
certificate holding district office.
Georgia 30337; phone: 404–474–5554; fax:
404–474–5606; e-mail: Carl.W.Gray@faa.gov.
Issued in Renton, Washington, on
September 14, 2011.
Ali Bahrami,
Manager, Transport Airplane Directorate,
Aircraft Certification Service.
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Bureau of Economic Analysis
15 CFR Part 806
[Docket No. 110822526–1525–01]
RIN 0691–AA80
[FR Doc. 2011–24270 Filed 9–20–11; 8:45 am]
Direct Investment Surveys: BE–12,
Benchmark Survey of Foreign Direct
Investment in the United States
BILLING CODE 4910–13–P
Bureau of Economic Analysis,
Commerce.
ACTION: Notice of proposed rulemaking.
AGENCY:
This proposed rule would
amend regulations of the Department of
Commerce’s Bureau of Economic
Analysis (BEA) to set forth the reporting
requirements for the 2012 BE–12,
SUMMARY:
Related Information
(m) For more information about this AD,
contact Carl Gray, Aerospace Engineer,
Airframe Branch, ACE–117A, FAA, Atlanta
ACO, 1701 Columbia Avenue, College Park,
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DEPARTMENT OF COMMERCE
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Federal Register / Vol. 76, No. 183 / Wednesday, September 21, 2011 / Proposed Rules
Benchmark Survey of Foreign Direct
Investment in the United States.
Benchmark surveys are conducted every
five years; the prior survey covered
2007. The benchmark survey covers the
universe of foreign direct investment in
the United States, and is BEA’s most
comprehensive survey of such
investment in terms of subject matter.
For the 2012 benchmark survey, BEA
proposes changes in reporting
thresholds and data items collected, as
well as changes in form design.
DATES: Comments on this proposed rule
will receive consideration if submitted
in writing on or before 5 p.m. November
21, 2011.
ADDRESSES: You may submit comments,
identified by RIN 0691-AA80, and
referencing the agency name (Bureau of
Economic Analysis), by any of the
following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
For Keyword or ID, enter ‘‘EAB–2011–
0002.’’
• E-mail: David.Galler@bea.gov.
• Fax: Office of the Chief, Direct
Investment Division, (202) 606–2894.
• Mail: Office of the Chief, Direct
Investment Division, U.S. Department of
Commerce, Bureau of Economic
Analysis, BE–50, Washington, DC
20230.
• Hand Delivery/Courier: Office of the
Chief, Direct Investment Division, U.S.
Department of Commerce, Bureau of
Economic Analysis, BE–50, Shipping
and Receiving, Section M100, 1441 L
Street, NW., Washington, DC 20005.
Written comments regarding the
burden-hour estimates or other aspects
of the collection-of-information
requirements contained in the proposed
rule should be sent to both BEA through
any of the methods above and to the
Office of Management and Budget
(OMB), O.I.R.A., Paperwork Reduction
Project 0608–0042, Attention PRA Desk
Officer for BEA, via e-mail at
pbugg@omb.eop.gov, or by FAX at 202–
395–7245.
Public Inspection: All comments
received are a part of the public record
and will generally be posted to https://
www.regulations.gov without change.
All personal identifying information (for
example, name, address, etc.)
voluntarily submitted by the
commentator may be publicly
accessible. Do not submit confidential
business information or otherwise
sensitive or protected information. BEA
will accept anonymous comments (enter
N/A in required fields if you wish to
remain anonymous). Attachments to
electronic comments will be accepted in
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Microsoft Word, Excel, WordPerfect, or
Adobe portable document file (pdf)
formats only.
FOR FURTHER INFORMATION CONTACT:
David H. Galler, Chief, Direct
Investment Division (BE–50), Bureau of
Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230;
phone (202) 606–9835.
SUPPLEMENTARY INFORMATION: In Section
3 of Executive Order 11961, as amended
by Executive Orders 12318 and 12518,
the President delegated the
responsibility for performing functions
under the Act concerning direct
investment to the Secretary of
Commerce, who has redelegated it to
BEA. The BE–12, Benchmark Survey of
Foreign Direct Investment in the United
States, is a mandatory survey and is
conducted once every five years by
BEA, under the International Investment
and Trade in Services Survey Act, 22
U.S.C. 3101–3108 (the Act).
The benchmark survey covers the
universe of foreign direct investment in
the United States in terms of value, and
is BEA’s most comprehensive survey of
such investment in terms of subject
matter. Foreign direct investment in the
United States is defined as the
ownership or control, directly or
indirectly, by one foreign person
(foreign parent) of ten percent or more
of the voting securities of an
incorporated U.S. business enterprise or
an equivalent interest in an
unincorporated U.S. business
enterprise, including a branch.
The purpose of the benchmark survey
is to obtain universe data on the
financial and operating characteristics
of U.S. affiliates, and on positions and
transactions between U.S. affiliates and
their foreign parent groups (which are
defined to include all foreign parents
and foreign affiliates of foreign parents).
These 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. Such data are generally
found in enterprise-level accounting
records of respondent companies. These
data are used to derive current universe
estimates of direct investment from
sample data collected in other BEA
surveys in nonbenchmark years. In
particular, they serve as benchmarks for
the quarterly direct investment
estimates included in the U.S.
international transactions and national
income and product accounts, and for
annual estimates of the foreign direct
investment position in the United States
and of the operations of the U.S.
affiliates of foreign companies.
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BEA will make the survey available
via eFile, BEA’s electronic filing system,
in March 2012, for the convenience of
respondents who may wish to file as
soon as their 2012 fiscal year ends. BEA
will send printed survey forms to
potential respondents in March 2013;
responses will be due by May 31.
This proposed rule would amend 15
CFR 806.17 to set forth the reporting
requirements for the BE–12, Benchmark
Survey of Foreign Direct Investment in
the United States. 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, 44 U.S.C. 3501–3520 (PRA).
Description of Changes
The proposed changes revise the
regulations and the survey forms for the
BE–12 benchmark survey. These
amendments include changes in
reporting thresholds and data items
collected, as well as changes in form
design. Several of these amendments are
part of a larger program to align the data
collection program for multinational
companies with available resources.
If this proposed rule is made final,
U.S. affiliates would report their
information, regardless of industry, on
one of four forms—BE–12A, BE–12B,
BE–12C, or BE–12 Claim for Not Filing.
Data on U.S. affiliates that are banks,
bank holding companies, or financial
holding companies would be collected
on the same survey forms as data on
other U.S. affiliates, and the 2007
benchmark survey form BE–12 Bank
would be discontinued.
The amount of information required
to be reported by each U.S. affiliate is
determined by the size of the affiliate’s
assets, sales or gross operating revenue,
and net income. To minimize the
reporting burden on smaller U.S.
companies that are foreign owned, BEA
proposes to increase the reporting
thresholds for each of the forms. The
proposed reporting requirements for the
four forms are—
(a) Form BE–12(A)—Report for
majority-owned U.S. affiliates with total
assets, sales or gross operating revenues,
or net income greater than $300 million,
positive or negative. (For 2007, this
threshold was $175 million.) Form BE–
12A would replace 2007 benchmark
survey form BE–12 (Long Form) for
reporting the largest majority-owned
U.S. affiliates.
(b) Form BE–12(B)—Report for
majority-owned U.S affiliates with total
assets, sales or gross operating revenues,
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or net income greater than $60 million,
positive or negative, but not greater than
$300 million, positive or negative, and
minority-owned U.S. affiliates with total
assets, sales or gross operating revenues,
or net income greater than $60 million,
positive or negative. (For 2007, this
threshold was $40 million.) Form BE–
12B would replace 2007 benchmark
survey form BE–12 (Short Form) for
reporting smaller majority-owned U.S.
affiliates and minority-owned U.S.
affiliates that meet the reporting
threshold stated above.
(c) Form BE–12(C)—Report for U.S.
affiliates with total assets, sales or gross
operating revenues, or net income less
than or equal to $60 million, positive or
negative. Form BE–12C would replace
2007 benchmark survey form BE–12
Mini for reporting the smallest U.S.
affiliates.
(d) Form BE–12 Claim for Not
Filing—Report to be filed by U.S.
persons that are not subject to the
reporting requirements for the BE–12
benchmark survey, but have been
contacted by BEA concerning their
reporting status. The name of this form
remains unchanged from the 2007
benchmark survey.
In addition to the changes in the
reporting criteria, BEA proposes to add
and delete some items on the
benchmark survey forms. The following
items would be added to the benchmark
survey:
(1) Questions will be added regarding
the use of fair value accounting on the
balance sheet. Companies that indicate
that they did use fair value accounting
will be asked to provide the amount of
net property, plant, and equipment, of
total assets, and of total liabilities that
was recorded at fair value.
(2) Questions will be added to collect
information on assets, liabilities, and
interest receipts and payments that are
related to banking activities.
(3) Several check-box questions will
be added asking whether U.S. affiliates
purchased contract manufacturing
services from others or performed
contract manufacturing services for
others. They will also be asked whether
they owned the materials used in
contract manufacturing and if the
company that performed or purchased
the service was located in the United
States or abroad.
(4) A question will be added asking if
the U.S. affiliate has equity in its foreign
parent(s) (reverse investment). An item
will be added to collect voting percent,
equity percent, and the dollar amount of
the investment.
(5) Several check-box questions will
be added to ensure that certain types of
finance companies do not report
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intercompany debt to BEA that is
already reported on Treasury
International Capital surveys.
BEA proposes to eliminate several
items from the benchmark survey. Many
of these items were eliminated from the
BE–15 Annual Survey of Foreign Direct
Investment in the United States
beginning with the 2008 survey. Others
are proposed for elimination because
they are no longer used, because the
information is collected on other
surveys conducted by BEA, or because
the quality of the data collected has
been poor. The items proposed to be
eliminated are: selected balance sheet
items; the breakdown of sales of services
to foreign persons into sales of services
to the foreign parent group, to foreign
affiliates owned by the affiliate, and to
other foreign persons; the breakdown of
employment and employee
compensation by occupational
classification; the breakdown of total
employee compensation into wages and
salaries and employee benefit plans;
data on the composition of external
finances; manufacturing employment by
state; gross property, plant, and
equipment by state; commercial
property by state; the location of the
primary U.S. headquarters of the U.S.
affiliate; number of employees covered
by collective bargaining agreements;
acres of U.S. land owned; basis (shipped
or charged) for trade data (check-box
questions); exports/imports shipped to/
by foreign affiliates owned by U.S.
affiliate by country of origin/destination
(as in the benchmark surveys for 2002
and earlier years, these columns will be
combined with the columns ‘‘shipped
to/by all other foreign persons’’); and
withholding taxes on intercompany
interest payments and interest receipts.
In addition, BEA plans to rename (as
described above) and redesign the
survey forms. The new design will
incorporate improvements made to
other BEA surveys. Survey instructions
and data item descriptions will be
changed to improve clarity, make the
benchmark survey forms more
consistent with those of other BEA
surveys, and provide updated
information on accounting standards.
Survey Background
The BEA conducts the BE–12 survey
under the authority of the International
Investment and Trade in Services
Survey Act (22 U.S.C. 3101–3108),
hereinafter, ‘‘the Act.’’ Section 3103(b)
of the Act provides that ‘‘with respect to
foreign direct investment in the United
States, the President shall conduct a
benchmark survey covering year 1980, a
benchmark survey covering year 1987,
and benchmark surveys covering every
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fifth year thereafter.’’ With respect to
foreign direct investment in the United
States, section 3103(b) also instructs the
BEA to:
(1) Identify the location, nature, and
magnitude of, and changes in total
investment by any foreign parent in
each of its U.S. affiliates and the
financial transactions between any
foreign parent and each of its U.S.
affiliates;
(2) Obtain (A) information on the
balance sheet U.S. affiliates of foreign
parents and related financial data, (B)
income statements, including the gross
sales by primary line of business (with
as much product line detail as is
necessary and feasible) of U.S. affiliates,
and (C) related information regarding
trade, including trade in both goods and
services, between the foreign parent and
each of its U.S. affiliates and between
each U.S. affiliate and any other person;
(3) Collect employment data showing
both the number of United States
employees of each U.S. affiliate and the
levels of compensation by industry;
(4) Obtain information on tax
payments by U.S. affiliates; and
(5) Determine, by industry, the total
dollar amount of research and
development expenditures by U.S.
affiliate, payments or other
compensation for the transfer of
technology between foreign parents and
their U.S. affiliates, and payments or
other compensation received by U.S.
affiliates from the transfer of technology
to other persons.
Executive Order 12866
This proposed rule has been
determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This proposed rule does not contain
policies with Federalism implications
sufficient to warrant preparation of a
Federalism assessment under E.O.
13132.
Paperwork Reduction Act
This proposed rule contains a
collection-of-information requirement
subject to review and approval by OMB
under the PRA. The requirement will be
submitted to OMB for approval as a
reinstatement, with change, of a
previously approved collection under
OMB control number 0608–0042.
Notwithstanding any other provisions
of the law, no person is required to
respond to, nor shall any person be
subject to a penalty for failure to comply
with, a collection of information subject
to the requirements of the PRA unless
that collection displays a currently valid
OMB control number.
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The BE–12 survey, as proposed, is
expected to result in the filing of reports
from approximately 19,950 U.S.
affiliates. The respondent burden for
this collection of information will vary
from one company to another, but is
estimated to average 9.7 hours per
response, including time for reviewing
instructions, searching existing data
sources, gathering and maintaining the
data needed, and completing and
reviewing the collection of information.
Thus the total respondent burden for
this survey is estimated at 194,150
hours, compared to 209,650 hours for
the previous (2007) benchmark survey.
The decrease in burden hours is due to
a reduction in the number of data items
on the form which reduces the average
burden per form, and increased
reporting thresholds which allow more
respondents to file on shorter forms.
Comments are requested concerning:
(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 burden estimate;
(c) ways to enhance the quality, utility,
and clarity of the information collected;
and (d) ways to minimize the burden of
the collection of information on the
respondents, including the use of
automated collection techniques or
other forms of information technology.
Written comments regarding the
burden-hour estimates or other aspects
of the collection of information
requirements contained in the proposed
rule should be sent to both BEA and
OMB following the instructions given in
the ADDRESSES section above.
Regulatory Flexibility Act
The Chief Counsel for Regulation,
Department of Commerce, has certified
to the Chief Counsel for Advocacy,
Small Business Administration, under
the provisions of the Regulatory
Flexibility Act (RFA), 5 U.S.C. 605(b),
that this proposed rulemaking, if
adopted, will not have a significant
economic impact on a substantial
number of small entities. The changes
proposed in this rule are discussed in
the preamble and are not repeated here.
A BE–12 report is required of any U.S.
company in which a foreign person
owned or controlled, directly or
indirectly, 10 percent or more of the
voting securities if an incorporated U.S.
business enterprise, or an equivalent
interest if an unincorporated U.S.
business enterprise. Most small business
are not foreign owned and therefore
would not be required to submit a BE–
12 survey. However, for those small
businesses that are foreign owned, the
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reporting burden is estimated to be
small.
The amount of information required
to be reported by each U.S. affiliate is
determined by the size of the affiliate’s
assets, sales, or net income or loss. To
minimize the reporting burden on
smaller U.S. companies that are foreign
owned and are required to report, BEA
proposes to increase the threshold for
reporting on Form BE–12A (the longest
form) from $175 million to $300 million
and on Form BE–12B from $40 million
to $60 million. All affiliates below $60
million will file on Form BE–12C (the
shortest form). The smallest affiliates
only file a few items on Form BE–12C;
BEA proposes to raise the threshold for
filing an abbreviated BE–12C from $15
million to $20 million.
Because those small businesses that
are impacted are subject to only
minimal recordkeeping burdens, the
Chief Counsel for Regulation certifies
that this proposed rule will not have a
significant economic impact on a
substantial number of small entities.
List of Subjects in 15 CFR Part 806
Economic statistics, Foreign
investment in the United States,
International transactions, Penalties,
Reporting and record keeping
requirements.
Dated: August 9, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For reasons set forth in the preamble,
BEA proposes to amend 15 CFR part 806
as follows:
PART 806—DIRECT INVESTMENT
SURVEYS
1. The authority citation for 15 CFR
part 806 continues to read as follows:
Authority: 5 U.S.C. 301; 22 U.S.C. 3101–
3108; E.O. 11961 (3 CFR, 1977 Comp., p. 86),
as amended by E.O. 12318 (3 CFR, 1981
Comp., p. 173), and E.O. 12518 (3 CFR, 1985
Comp., p. 348).
2. Revise § 806.17 to read as follows:
§ 806.17 Rules and regulations for BE–12,
Benchmark Survey of Foreign Direct
Investment in the United States—2012.
A BE–12, Benchmark Survey of
Foreign Direct Investment in the United
States, will be conducted covering 2012.
All legal authorities, provisions,
definitions, and requirements contained
in § 806.1 through § 806.13 and
§ 806.15(a) through (g) are applicable to
this survey. Specific additional rules
and regulations for the BE–12 survey are
given in this section.
(a) Response required. A response is
required from persons subject to the
reporting requirements of the BE–12,
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Benchmark Survey of Foreign Direct
Investment in the United States—2012,
contained in this section, whether or not
they are contacted by BEA. Also, a
person, or their agent, contacted by BEA
about reporting in this survey, either by
sending them a report form or by
written inquiry, must respond pursuant
to § 806.4. This may be accomplished
by:
(1) Certifying in writing, by the due
date of the survey, to the fact that the
person is not a U.S. affiliate of a foreign
person and not subject to the reporting
requirements of the BE–12 survey;
(2) Completing and returning the
‘‘BE–12 Claim for Not Filing’’ by the due
date of the survey; or
(3) Filing the properly completed BE–
12 report—Form BE–12A, Form BE–
12B, or Form BE–12C—by May 31,
2013.
(b) Who must report. A BE–12 report
is required for each U.S. affiliate, that is,
for each U.S. business enterprise in
which a foreign person (foreign parent)
owned or controlled, directly or
indirectly, 10 percent or more of the
voting securities in an incorporated U.S.
business enterprise, or an equivalent
interest in an unincorporated U.S.
business enterprise, at the end of the
business enterprise’s fiscal year that
ended in calendar year 2012. A BE–12
report is required even if the foreign
person’s ownership interest in the U.S.
business enterprise was established or
acquired during the 2012 reporting year.
(c) Forms to be filed. (1) Form BE–12A
must be completed by a U.S. affiliate
that was majority-owned by one or more
foreign parents (for purposes of this
survey, a ‘‘majority-owned’’ U.S.
affiliate is one in which the combined
direct and indirect ownership interest of
all foreign parents of the U.S. affiliate
exceeds 50 percent), if on a fully
consolidated basis, or, in the case of real
estate investment, on an aggregated
basis, any one of the following three
items for the U.S. affiliate (not just the
foreign parent’s share), was greater than
$300 million (positive or negative) at the
end of, or for, its fiscal year that ended
in calendar year 2012:
(i) Total assets (do not net out
liabilities);
(ii) Sales or gross operating revenues,
excluding sales taxes; or
(iii) Net income after provision for
U.S. income taxes.
(2) Form BE–12B must be completed
by:
(i) A majority-owned U.S. affiliate if,
on a fully consolidated basis, or, in the
case of real estate investment, on an
aggregated basis, any one of the three
items listed in paragraph (c)(1) of this
section (not just the foreign parent’s
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share), was greater than $60 million
(positive or negative) but none of these
items was greater than $300 million
(positive or negative) at the end of, or
for, its fiscal year that ended in calendar
year 2012.
(ii) A minority-owned U.S. affiliate if,
on a fully consolidated basis, or, in the
case of real estate investment, on an
aggregated basis, any one of the three
items listed in paragraph (c)(1) of this
section (not just the foreign parent’s
share), was greater than $60 million
(positive or negative) at the end of, or
for, its fiscal year that ended in calendar
year 2012. (A ‘‘minority-owned’’ U.S.
affiliate is one in which the combined
direct and indirect ownership interest of
all foreign parents of the U.S. affiliate is
50 percent or less.)
(3) Form BE–12C must be completed
by a U.S. affiliate if, on a fully
consolidated basis, or, in the case of real
estate investment, on an aggregated
basis, none of the three items listed in
paragraph (c)(1) of this section for a U.S.
affiliate (not just the foreign parent’s
share), was greater than $60 million
(positive or negative) at the end of, or
for, its fiscal year that ended in calendar
year 2012.
(4) BE–12 Claim for Not Filing will be
provided for response by persons that
are not subject to the reporting
requirements of the BE–12 survey but
have been contacted by BEA concerning
their reporting status.
(d) Aggregation of real estate
investments. All real estate investments
of a foreign person must be aggregated
for the purpose of applying the
reporting criteria. A single report form
must be filed to report the aggregate
holdings, unless written permission has
been received from BEA to do
otherwise. Those holdings not
aggregated must be reported separately
on the same type of report that would
have been required if the real estate
holdings were aggregated.
(e) Due date. A fully completed and
certified Form BE–12A, BE–12B, BE–
12C, or BE–12 Claim for Not Filing is
due to be filed with BEA not later than
May 31, 2013.
[FR Doc. 2011–24267 Filed 9–20–11; 8:45 am]
BILLING CODE 3510–06–P
VerDate Mar<15>2010
17:46 Sep 20, 2011
Jkt 223001
DEPARTMENT OF ENERGY
Federal Energy Regulatory
Commission
18 CFR Parts 39 and 40
[Docket No. RM11–16–000]
Transmission Relay Loadability
Reliability Standard
Federal Energy Regulatory
Commission.
ACTION: Notice of proposed rulemaking.
AGENCY:
Pursuant to section 215 of the
Federal Power Act, the Commission
proposes to approve Reliability
Standard PRC–023–2 (Transmission
Relay Loadability) submitted to the
Commission for approval by the North
American Electric Reliability
Corporation (NERC), the Electric
Reliability Organization (ERO) certified
by the Commission. The proposed
Reliability Standard requires
transmission owners, generator owners,
and distribution providers to set relays
according to specific criteria in order to
ensure that the relays reliably detect and
protect the electric network from fault
conditions, but do not limit
transmission loadability or interfere
with system operators’ ability to protect
system reliability. The Commission
seeks comment from interested persons
on the proposed Reliability Standard.
The Commission also proposes to
approve NERC Rules of Procedure
Section 1700—Challenges to
Determinations. This proposed rule
provides registered entities a means to
challenge determinations made by
planning coordinators under Reliability
Standard PRC–023.
DATES: Comments are due November 21,
2011.
ADDRESSES: You may submit comments,
identified by docket number RM11–16–
000 and in accordance with the
requirements posted on the
Commission’s Web site, http//
www.ferc.gov. Comments may be
submitted by any of the following
methods:
• Agency Web site: https://ferc.gov.
Documents created electronically using
word processing software should be
filed in native applications or print-toPDF format and not in a scanned format,
at https://www.ferc.gov/docs-filing/
efiling.asp.
• Mail/Hand Delivery: Commenters
unable to file comments electronically
must mail or hand deliver their
comments to: Federal Energy Regulatory
Commission, Secretary of the
Commission, 888 First Street, NE.,
SUMMARY:
PO 00000
Frm 00009
Fmt 4702
Sfmt 4702
Washington, DC 20426. These
requirements can be found on the
Commission’s Web site, see, e.g., the
‘‘Quick Reference Guide for Paper
Submissions,’’ available at https://
www.ferc.gov/docs-filing/efiling.asp or
via phone from FERC Online Support at
(202) 502–6652 or toll-free at 1-(866)
208–3676.
FOR FURTHER INFORMATION CONTACT:
Terence A. Burke (Legal Information),
Office of the General Counsel, Federal
Energy Regulatory Commission, 888
First Street, NE., Washington, DC
20426, (202) 502–6498.
Kenneth U. Hubona (Technical
Information), Office of Electric
Reliability, Division of Reliability
Standards, Federal Energy Regulatory
Commission, 13511 Label Lane, Suite
203, Hagerstown, MD 21740, (301)
665–1608.
SUPPLEMENTARY INFORMATION:
Notice of Proposed Rulemaking
September 15, 2011.
1. Pursuant to section 215 of the
Federal Power Act (FPA),1 the
Commission proposes to approve
Reliability Standard PRC–023–2
(Transmission Relay Loadability)
submitted by the North American
Electric Reliability Corporation (NERC),
the Electric Reliability Organization
(ERO) certified by the Commission. The
proposed Reliability Standard requires
transmission owners, generation
owners, and distribution providers to
set load-responsive phase protective
relays according to specific criteria in
order to ensure that the relays reliably
detect and protect the electric network
from fault conditions, but do not limit
transmission loadability 2 or interfere
with system operators’ ability to protect
system reliability. The Commission
seeks comment from interested persons
on the proposed Reliability Standard.
The Commission also proposes to
approve NERC Rules of Procedure
Section 1700—Challenges to
Determinations also included in NERC’s
filing. This proposed rule provides
registered entities a means to challenge
determinations made by planning
coordinators under Reliability Standard
PRC–023.
I. Background
A. Relay Protection Systems
2. Protective relays are devices that
detect and initiate the removal of faults
1 16
U.S.C. 824o (2006).
the context of the proposed Reliability
Standard, ‘‘loadability’’ refers to the ability of
protective relays to refrain from operating under
load conditions.
2 In
E:\FR\FM\21SEP1.SGM
21SEP1
]]>Agencies
[Federal Register Volume 76, Number 183 (Wednesday, September 21, 2011)]
[Proposed Rules]
[Pages 58420-58424]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-24267]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 806
[Docket No. 110822526-1525-01]
RIN 0691-AA80
Direct Investment Surveys: BE-12, Benchmark Survey of Foreign
Direct Investment in the United States
AGENCY: Bureau of Economic Analysis, Commerce.
ACTION: Notice of proposed rulemaking.
-----------------------------------------------------------------------
SUMMARY: This proposed rule would amend regulations of the Department
of Commerce's Bureau of Economic Analysis (BEA) to set forth the
reporting requirements for the 2012 BE-12,
[[Page 58421]]
Benchmark Survey of Foreign Direct Investment in the United States.
Benchmark surveys are conducted every five years; the prior survey
covered 2007. The benchmark survey covers the universe of foreign
direct investment in the United States, and is BEA's most comprehensive
survey of such investment in terms of subject matter. For the 2012
benchmark survey, BEA proposes changes in reporting thresholds and data
items collected, as well as changes in form design.
DATES: Comments on this proposed rule will receive consideration if
submitted in writing on or before 5 p.m. November 21, 2011.
ADDRESSES: You may submit comments, identified by RIN 0691-AA80, and
referencing the agency name (Bureau of Economic Analysis), by any of
the following methods:
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. For Keyword or ID,
enter ``EAB-2011-0002.''
E-mail: David.Galler@bea.gov.
Fax: Office of the Chief, Direct Investment Division,
(202) 606-2894.
Mail: Office of the Chief, Direct Investment Division,
U.S. Department of Commerce, Bureau of Economic Analysis, BE-50,
Washington, DC 20230.
Hand Delivery/Courier: Office of the Chief, Direct
Investment Division, U.S. Department of Commerce, Bureau of Economic
Analysis, BE-50, Shipping and Receiving, Section M100, 1441 L Street,
NW., Washington, DC 20005.
Written comments regarding the burden-hour estimates or other
aspects of the collection-of-information requirements contained in the
proposed rule should be sent to both BEA through any of the methods
above and to the Office of Management and Budget (OMB), O.I.R.A.,
Paperwork Reduction Project 0608-0042, Attention PRA Desk Officer for
BEA, via e-mail at pbugg@omb.eop.gov, or by FAX at 202-395-7245.
Public Inspection: All comments received are a part of the public
record and will generally be posted to https://www.regulations.gov
without change. All personal identifying information (for example,
name, address, etc.) voluntarily submitted by the commentator may be
publicly accessible. Do not submit confidential business information or
otherwise sensitive or protected information. BEA will accept anonymous
comments (enter N/A in required fields if you wish to remain
anonymous). Attachments to electronic comments will be accepted in
Microsoft Word, Excel, WordPerfect, or Adobe portable document file
(pdf) formats only.
FOR FURTHER INFORMATION CONTACT: David H. Galler, Chief, Direct
Investment Division (BE-50), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230; phone (202) 606-9835.
SUPPLEMENTARY INFORMATION: In Section 3 of Executive Order 11961, as
amended by Executive Orders 12318 and 12518, the President delegated
the responsibility for performing functions under the Act concerning
direct investment to the Secretary of Commerce, who has redelegated it
to BEA. The BE-12, Benchmark Survey of Foreign Direct Investment in the
United States, is a mandatory survey and is conducted once every five
years by BEA, under the International Investment and Trade in Services
Survey Act, 22 U.S.C. 3101-3108 (the Act).
The benchmark survey covers the universe of foreign direct
investment in the United States in terms of value, and is BEA's most
comprehensive survey of such investment in terms of subject matter.
Foreign direct investment in the United States is defined as the
ownership or control, directly or indirectly, by one foreign person
(foreign parent) of ten percent or more of the voting securities of an
incorporated U.S. business enterprise or an equivalent interest in an
unincorporated U.S. business enterprise, including a branch.
The purpose of the benchmark survey is to obtain universe data on
the financial and operating characteristics of U.S. affiliates, and on
positions and transactions between U.S. affiliates and their foreign
parent groups (which are defined to include all foreign parents and
foreign affiliates of foreign parents). These 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. Such data are generally found in
enterprise-level accounting records of respondent companies. These data
are used to derive current universe estimates of direct investment from
sample data collected in other BEA surveys in nonbenchmark years. In
particular, they serve as benchmarks for the quarterly direct
investment estimates included in the U.S. international transactions
and national income and product accounts, and for annual estimates of
the foreign direct investment position in the United States and of the
operations of the U.S. affiliates of foreign companies.
BEA will make the survey available via eFile, BEA's electronic
filing system, in March 2012, for the convenience of respondents who
may wish to file as soon as their 2012 fiscal year ends. BEA will send
printed survey forms to potential respondents in March 2013; responses
will be due by May 31.
This proposed rule would amend 15 CFR 806.17 to set forth the
reporting requirements for the BE-12, Benchmark Survey of Foreign
Direct Investment in the United States. 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, 44 U.S.C. 3501-3520
(PRA).
Description of Changes
The proposed changes revise the regulations and the survey forms
for the BE-12 benchmark survey. These amendments include changes in
reporting thresholds and data items collected, as well as changes in
form design. Several of these amendments are part of a larger program
to align the data collection program for multinational companies with
available resources.
If this proposed rule is made final, U.S. affiliates would report
their information, regardless of industry, on one of four forms--BE-
12A, BE-12B, BE-12C, or BE-12 Claim for Not Filing. Data on U.S.
affiliates that are banks, bank holding companies, or financial holding
companies would be collected on the same survey forms as data on other
U.S. affiliates, and the 2007 benchmark survey form BE-12 Bank would be
discontinued.
The amount of information required to be reported by each U.S.
affiliate is determined by the size of the affiliate's assets, sales or
gross operating revenue, and net income. To minimize the reporting
burden on smaller U.S. companies that are foreign owned, BEA proposes
to increase the reporting thresholds for each of the forms. The
proposed reporting requirements for the four forms are--
(a) Form BE-12(A)--Report for majority-owned U.S. affiliates with
total assets, sales or gross operating revenues, or net income greater
than $300 million, positive or negative. (For 2007, this threshold was
$175 million.) Form BE-12A would replace 2007 benchmark survey form BE-
12 (Long Form) for reporting the largest majority-owned U.S.
affiliates.
(b) Form BE-12(B)--Report for majority-owned U.S affiliates with
total assets, sales or gross operating revenues,
[[Page 58422]]
or net income greater than $60 million, positive or negative, but not
greater than $300 million, positive or negative, and minority-owned
U.S. affiliates with total assets, sales or gross operating revenues,
or net income greater than $60 million, positive or negative. (For
2007, this threshold was $40 million.) Form BE-12B would replace 2007
benchmark survey form BE-12 (Short Form) for reporting smaller
majority-owned U.S. affiliates and minority-owned U.S. affiliates that
meet the reporting threshold stated above.
(c) Form BE-12(C)--Report for U.S. affiliates with total assets,
sales or gross operating revenues, or net income less than or equal to
$60 million, positive or negative. Form BE-12C would replace 2007
benchmark survey form BE-12 Mini for reporting the smallest U.S.
affiliates.
(d) Form BE-12 Claim for Not Filing--Report to be filed by U.S.
persons that are not subject to the reporting requirements for the BE-
12 benchmark survey, but have been contacted by BEA concerning their
reporting status. The name of this form remains unchanged from the 2007
benchmark survey.
In addition to the changes in the reporting criteria, BEA proposes
to add and delete some items on the benchmark survey forms. The
following items would be added to the benchmark survey:
(1) Questions will be added regarding the use of fair value
accounting on the balance sheet. Companies that indicate that they did
use fair value accounting will be asked to provide the amount of net
property, plant, and equipment, of total assets, and of total
liabilities that was recorded at fair value.
(2) Questions will be added to collect information on assets,
liabilities, and interest receipts and payments that are related to
banking activities.
(3) Several check-box questions will be added asking whether U.S.
affiliates purchased contract manufacturing services from others or
performed contract manufacturing services for others. They will also be
asked whether they owned the materials used in contract manufacturing
and if the company that performed or purchased the service was located
in the United States or abroad.
(4) A question will be added asking if the U.S. affiliate has
equity in its foreign parent(s) (reverse investment). An item will be
added to collect voting percent, equity percent, and the dollar amount
of the investment.
(5) Several check-box questions will be added to ensure that
certain types of finance companies do not report intercompany debt to
BEA that is already reported on Treasury International Capital surveys.
BEA proposes to eliminate several items from the benchmark survey.
Many of these items were eliminated from the BE-15 Annual Survey of
Foreign Direct Investment in the United States beginning with the 2008
survey. Others are proposed for elimination because they are no longer
used, because the information is collected on other surveys conducted
by BEA, or because the quality of the data collected has been poor. The
items proposed to be eliminated are: selected balance sheet items; the
breakdown of sales of services to foreign persons into sales of
services to the foreign parent group, to foreign affiliates owned by
the affiliate, and to other foreign persons; the breakdown of
employment and employee compensation by occupational classification;
the breakdown of total employee compensation into wages and salaries
and employee benefit plans; data on the composition of external
finances; manufacturing employment by state; gross property, plant, and
equipment by state; commercial property by state; the location of the
primary U.S. headquarters of the U.S. affiliate; number of employees
covered by collective bargaining agreements; acres of U.S. land owned;
basis (shipped or charged) for trade data (check-box questions);
exports/imports shipped to/by foreign affiliates owned by U.S.
affiliate by country of origin/destination (as in the benchmark surveys
for 2002 and earlier years, these columns will be combined with the
columns ``shipped to/by all other foreign persons''); and withholding
taxes on intercompany interest payments and interest receipts.
In addition, BEA plans to rename (as described above) and redesign
the survey forms. The new design will incorporate improvements made to
other BEA surveys. Survey instructions and data item descriptions will
be changed to improve clarity, make the benchmark survey forms more
consistent with those of other BEA surveys, and provide updated
information on accounting standards.
Survey Background
The BEA conducts the BE-12 survey under the authority of the
International Investment and Trade in Services Survey Act (22 U.S.C.
3101-3108), hereinafter, ``the Act.'' Section 3103(b) of the Act
provides that ``with respect to foreign direct investment in the United
States, the President shall conduct a benchmark survey covering year
1980, a benchmark survey covering year 1987, and benchmark surveys
covering every fifth year thereafter.'' With respect to foreign direct
investment in the United States, section 3103(b) also instructs the BEA
to:
(1) Identify the location, nature, and magnitude of, and changes in
total investment by any foreign parent in each of its U.S. affiliates
and the financial transactions between any foreign parent and each of
its U.S. affiliates;
(2) Obtain (A) information on the balance sheet U.S. affiliates of
foreign parents and related financial data, (B) income statements,
including the gross sales by primary line of business (with as much
product line detail as is necessary and feasible) of U.S. affiliates,
and (C) related information regarding trade, including trade in both
goods and services, between the foreign parent and each of its U.S.
affiliates and between each U.S. affiliate and any other person;
(3) Collect employment data showing both the number of United
States employees of each U.S. affiliate and the levels of compensation
by industry;
(4) Obtain information on tax payments by U.S. affiliates; and
(5) Determine, by industry, the total dollar amount of research and
development expenditures by U.S. affiliate, payments or other
compensation for the transfer of technology between foreign parents and
their U.S. affiliates, and payments or other compensation received by
U.S. affiliates from the transfer of technology to other persons.
Executive Order 12866
This proposed rule has been determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This proposed rule does not contain policies with Federalism
implications sufficient to warrant preparation of a Federalism
assessment under E.O. 13132.
Paperwork Reduction Act
This proposed rule contains a collection-of-information requirement
subject to review and approval by OMB under the PRA. The requirement
will be submitted to OMB for approval as a reinstatement, with change,
of a previously approved collection under OMB control number 0608-0042.
Notwithstanding any other provisions of the law, no person is
required to respond to, nor shall any person be subject to a penalty
for failure to comply with, a collection of information subject to the
requirements of the PRA unless that collection displays a currently
valid OMB control number.
[[Page 58423]]
The BE-12 survey, as proposed, is expected to result in the filing
of reports from approximately 19,950 U.S. affiliates. The respondent
burden for this collection of information will vary from one company to
another, but is estimated to average 9.7 hours per response, including
time for reviewing instructions, searching existing data sources,
gathering and maintaining the data needed, and completing and reviewing
the collection of information. Thus the total respondent burden for
this survey is estimated at 194,150 hours, compared to 209,650 hours
for the previous (2007) benchmark survey. The decrease in burden hours
is due to a reduction in the number of data items on the form which
reduces the average burden per form, and increased reporting thresholds
which allow more respondents to file on shorter forms.
Comments are requested concerning: (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 burden estimate; (c)
ways to enhance the quality, utility, and clarity of the information
collected; and (d) ways to minimize the burden of the collection of
information on the respondents, including the use of automated
collection techniques or other forms of information technology.
Written comments regarding the burden-hour estimates or other
aspects of the collection of information requirements contained in the
proposed rule should be sent to both BEA and OMB following the
instructions given in the ADDRESSES section above.
Regulatory Flexibility Act
The Chief Counsel for Regulation, Department of Commerce, has
certified to the Chief Counsel for Advocacy, Small Business
Administration, under the provisions of the Regulatory Flexibility Act
(RFA), 5 U.S.C. 605(b), that this proposed rulemaking, if adopted, will
not have a significant economic impact on a substantial number of small
entities. The changes proposed in this rule are discussed in the
preamble and are not repeated here.
A BE-12 report is required of any U.S. company in which a foreign
person owned or controlled, directly or indirectly, 10 percent or more
of the voting securities if an incorporated U.S. business enterprise,
or an equivalent interest if an unincorporated U.S. business
enterprise. Most small business are not foreign owned and therefore
would not be required to submit a BE-12 survey. However, for those
small businesses that are foreign owned, the reporting burden is
estimated to be small.
The amount of information required to be reported by each U.S.
affiliate is determined by the size of the affiliate's assets, sales,
or net income or loss. To minimize the reporting burden on smaller U.S.
companies that are foreign owned and are required to report, BEA
proposes to increase the threshold for reporting on Form BE-12A (the
longest form) from $175 million to $300 million and on Form BE-12B from
$40 million to $60 million. All affiliates below $60 million will file
on Form BE-12C (the shortest form). The smallest affiliates only file a
few items on Form BE-12C; BEA proposes to raise the threshold for
filing an abbreviated BE-12C from $15 million to $20 million.
Because those small businesses that are impacted are subject to
only minimal recordkeeping burdens, the Chief Counsel for Regulation
certifies that this proposed rule will not have a significant economic
impact on a substantial number of small entities.
List of Subjects in 15 CFR Part 806
Economic statistics, Foreign investment in the United States,
International transactions, Penalties, Reporting and record keeping
requirements.
Dated: August 9, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For reasons set forth in the preamble, BEA proposes to amend 15 CFR
part 806 as follows:
PART 806--DIRECT INVESTMENT SURVEYS
1. The authority citation for 15 CFR part 806 continues to read as
follows:
Authority: 5 U.S.C. 301; 22 U.S.C. 3101-3108; E.O. 11961 (3 CFR,
1977 Comp., p. 86), as amended by E.O. 12318 (3 CFR, 1981 Comp., p.
173), and E.O. 12518 (3 CFR, 1985 Comp., p. 348).
2. Revise Sec. 806.17 to read as follows:
Sec. 806.17 Rules and regulations for BE-12, Benchmark Survey of
Foreign Direct Investment in the United States--2012.
A BE-12, Benchmark Survey of Foreign Direct Investment in the
United States, will be conducted covering 2012. All legal authorities,
provisions, definitions, and requirements contained in Sec. 806.1
through Sec. 806.13 and Sec. 806.15(a) through (g) are applicable to
this survey. Specific additional rules and regulations for the BE-12
survey are given in this section.
(a) Response required. A response is required from persons subject
to the reporting requirements of the BE-12, Benchmark Survey of Foreign
Direct Investment in the United States--2012, contained in this
section, whether or not they are contacted by BEA. Also, a person, or
their agent, contacted by BEA about reporting in this survey, either by
sending them a report form or by written inquiry, must respond pursuant
to Sec. 806.4. This may be accomplished by:
(1) Certifying in writing, by the due date of the survey, to the
fact that the person is not a U.S. affiliate of a foreign person and
not subject to the reporting requirements of the BE-12 survey;
(2) Completing and returning the ``BE-12 Claim for Not Filing'' by
the due date of the survey; or
(3) Filing the properly completed BE-12 report--Form BE-12A, Form
BE-12B, or Form BE-12C--by May 31, 2013.
(b) Who must report. A BE-12 report is required for each U.S.
affiliate, that is, for each U.S. business enterprise in which a
foreign person (foreign parent) owned or controlled, directly or
indirectly, 10 percent or more of the voting securities in an
incorporated U.S. business enterprise, or an equivalent interest in an
unincorporated U.S. business enterprise, at the end of the business
enterprise's fiscal year that ended in calendar year 2012. A BE-12
report is required even if the foreign person's ownership interest in
the U.S. business enterprise was established or acquired during the
2012 reporting year.
(c) Forms to be filed. (1) Form BE-12A must be completed by a U.S.
affiliate that was majority-owned by one or more foreign parents (for
purposes of this survey, a ``majority-owned'' U.S. affiliate is one in
which the combined direct and indirect ownership interest of all
foreign parents of the U.S. affiliate exceeds 50 percent), if on a
fully consolidated basis, or, in the case of real estate investment, on
an aggregated basis, any one of the following three items for the U.S.
affiliate (not just the foreign parent's share), was greater than $300
million (positive or negative) at the end of, or for, its fiscal year
that ended in calendar year 2012:
(i) Total assets (do not net out liabilities);
(ii) Sales or gross operating revenues, excluding sales taxes; or
(iii) Net income after provision for U.S. income taxes.
(2) Form BE-12B must be completed by:
(i) A majority-owned U.S. affiliate if, on a fully consolidated
basis, or, in the case of real estate investment, on an aggregated
basis, any one of the three items listed in paragraph (c)(1) of this
section (not just the foreign parent's
[[Page 58424]]
share), was greater than $60 million (positive or negative) but none of
these items was greater than $300 million (positive or negative) at the
end of, or for, its fiscal year that ended in calendar year 2012.
(ii) A minority-owned U.S. affiliate if, on a fully consolidated
basis, or, in the case of real estate investment, on an aggregated
basis, any one of the three items listed in paragraph (c)(1) of this
section (not just the foreign parent's share), was greater than $60
million (positive or negative) at the end of, or for, its fiscal year
that ended in calendar year 2012. (A ``minority-owned'' U.S. affiliate
is one in which the combined direct and indirect ownership interest of
all foreign parents of the U.S. affiliate is 50 percent or less.)
(3) Form BE-12C must be completed by a U.S. affiliate if, on a
fully consolidated basis, or, in the case of real estate investment, on
an aggregated basis, none of the three items listed in paragraph (c)(1)
of this section for a U.S. affiliate (not just the foreign parent's
share), was greater than $60 million (positive or negative) at the end
of, or for, its fiscal year that ended in calendar year 2012.
(4) BE-12 Claim for Not Filing will be provided for response by
persons that are not subject to the reporting requirements of the BE-12
survey but have been contacted by BEA concerning their reporting
status.
(d) Aggregation of real estate investments. All real estate
investments of a foreign person must be aggregated for the purpose of
applying the reporting criteria. A single report form must be filed to
report the aggregate holdings, unless written permission has been
received from BEA to do otherwise. Those holdings not aggregated must
be reported separately on the same type of report that would have been
required if the real estate holdings were aggregated.
(e) Due date. A fully completed and certified Form BE-12A, BE-12B,
BE-12C, or BE-12 Claim for Not Filing is due to be filed with BEA not
later than May 31, 2013.
[FR Doc. 2011-24267 Filed 9-20-11; 8:45 am]
BILLING CODE 3510-06-P
