Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Services Surveys: BE-185, Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons, 28333-28335 [2021-11101]
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Federal Register / Vol. 86, No. 100 / Wednesday, May 26, 2021 / Notices
the Business and Professional
Classification Report (SQ–CLASS). The
primary purpose of SQ–CLASS Report
is to meet the ongoing sample needs of
the Census Bureau’s various surveys of
the retail trade, wholesale trade, and
services portions of the economy (our
current business surveys) as defined by
the North American Industry
Classification System (NAICS). The data
collected by the SQ–CLASS report are
used to update the samples in our
current business surveys to reflect
newly opened establishments.
Additionally, establishments in the fiveyear economic census will receive data
collection instruments specifically
tailored to their industry based on the
classification information obtained by
the SQ–CLASS report.
Additionally, establishments in the
five-year economic census will receive
data collection instruments specifically
tailored to their industry based on the
classification information obtained by
the SQ–CLASS report. Businesses in
Support Activities for Crop Production
(NAICS 1151) and Support Activities for
Animal Production (NAICS 1152) will
be added to the scope and collection of
the 2022 Economic Census in order to
fill a recognized measurement gap. To
ensure that businesses are properly
classified before the 2022 Economic
Census collection, the scope of the SQ–
CLASS is being expanded to include
businesses in the Agriculture Sector
(NAICS 11) that are not fully classified.
This change adds approximately 6,000
cases to the SQ–CLASS collection in
Fiscal Year 2022 and a small number of
additional cases in succeeding years,
with minor modifications to the SQ–
CLASS instrument and instructions. In
the Federal Register notice dated March
8, 2021 located in Vol. 86, No. 43, on
page 13,280, this change to our
sampling structure was not mentioned.
To keep current with rapid changes in
the marketplace caused by new
businesses (a.k.a. births) the Census
Bureau samples newly assigned
Employer Identification Numbers (EINs)
obtained from the Internal Revenue
Service (IRS). Each EIN can only be
selected once for the SQ–CLASS report.
EINs selected for the SQ–CLASS sample
are asked to provide data about the
establishment(s) associated with the
new EIN including a more reliable
measure of size, consisting of sales in
two recent months, company affiliation
information, a new or more detailed
industry classification code, and other
key information needed to maintain
proper coverage of the business universe
on the Business Register (BR) for the
current business surveys.
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Based on information collected on the
SQ–CLASS form, EINs meeting the
criteria for inclusion in the Census
Bureau’s current business surveys are
eligible for a second phase of sampling.
The retail, wholesale, and services EINs
selected in this second sampling are
asked to report annually on the annual
retail, wholesale, and service surveys. A
subsample of the retail and wholesale
EINs are also asked to report monthly on
the monthly retail and wholesale
surveys. Similarly, a subsample of the
service EINs are asked to report in the
quarterly services survey.
The Economic Census and the current
business surveys represent the primary
source of facts about the structure and
function of the U.S. economy, providing
essential information to government and
the business community in making
sound decisions. This information helps
build the foundation for the calculation
of Gross Domestic Product (GDP) and
other economic indicators. Crucial to its
success are the accuracy and reliability
of the BR data, which provides the
Economic Census and current business
surveys with their establishment lists.
Critical to the quality of information
housed in the BR is that each of the
statistical units has an accurate industry
classification, measure of size, activity
status, and physical address assigned to
it. The vital information obtained from
the SQ–CLASS report is fed back to the
BR to represent changes in industries
and confirm coverage between the years
of the Economic Census.
We are not proposing any major
changes to the collection. Minimal
changes are being made to the economic
activity descriptions in the primary
business activity question on the SQ–
CLASS report. These changes include
providing additional examples of
activities included in a specific
economic sector. Respondents will
continue to choose the economic sector
of their business and then select their
type of business from a list of business
activities based on their response to the
question about their economic sector. If
the respondent does not see their
business activity listed, then they will
provide a brief description of their
business activity. This is the same
methodology that the Census Bureau
uses in the Economic Census to assign
industry classification.
Affected Public: Business or other forprofit organizations.
Frequency: One time.
Respondent’s Obligation: Mandatory.
Legal Authority: Title 13 U.S.C.
Sections 131, 182 and 193.
This information collection request
may be viewed at www.reginfo.gov.
Follow the instructions to view the
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28333
Department of Commerce collections
currently under review by OMB.
Written comments and
recommendations for the proposed
information collection should be
submitted within 30 days of the
publication of this notice on the
following website www.reginfo.gov/
public/do/PRAMain. Find this
particular information collection by
selecting ‘‘Currently under 30-day
Review—Open for Public Comments’’ or
by using the search function and
entering either the title of the collection
or the OMB Control Number 0607–0189.
Sheleen Dumas,
Department PRA Clearance Officer, Office of
the Chief Information Officer, Commerce
Department.
[FR Doc. 2021–11102 Filed 5–25–21; 8:45 am]
BILLING CODE 3510–07–P
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Agency Information Collection
Activities; Submission to the Office of
Management and Budget (OMB) for
Review and Approval; Comment
Request; Services Surveys: BE–185,
Quarterly Survey of Financial Services
Transactions Between U.S. Financial
Services Providers and Foreign
Persons
Bureau of Economic Analysis,
Department of Commerce.
ACTION: Notice of information collection,
request for comment.
AGENCY:
The Department of
Commerce, in accordance with the
Paperwork Reduction Act of 1995
(PRA), invites the general public and
other Federal agencies to comment on
proposed, and continuing information
collections, which helps us assess the
impact of our information collection
requirements and minimize the public’s
reporting burden. The purpose of this
notice is to allow for 60 days of public
comment preceding submission of the
collection to OMB.
DATES: To ensure consideration,
comments regarding this proposed
information collection must be received
on or before July 26, 2021.
ADDRESSES: Interested persons are
invited to submit written comments to
Christopher Stein, Chief, Services
Surveys Branch, Bureau of Economic
Analysis, by email to christopher.stein@
bea.gov or PRAcomments@doc.gov.
Please reference OMB Control Number
0608–0065 in the subject line of your
comments. Do not submit Confidential
SUMMARY:
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28334
Federal Register / Vol. 86, No. 100 / Wednesday, May 26, 2021 / Notices
Business Information or otherwise
sensitive or protected information.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
specific questions related to collection
activities should be directed to
Christopher Stein, Chief, Services
Surveys Branch, Bureau of Economic
Analysis; (301) 278–9189; or via email
at christopher.stein@bea.gov.
SUPPLEMENTARY INFORMATION:
I. Abstract
The Quarterly Survey of Financial
Services Transactions between U.S.
Financial Services Providers and
Foreign Persons (Form BE–185) is a
survey that collects data from U.S.
persons who engage in covered financial
services transactions. A U.S. person
means any individual, branch,
partnership, associated group,
association, estate, trust, corporation, or
other organization (whether or not
organized under the laws of any State),
resident in the United States or subject
to the jurisdiction of the United States.
A U.S. person must report if they had
combined sales of covered financial
services to foreign persons that
exceeded $20 million for the previous
fiscal year, or are expected to exceed
that amount during the current fiscal
year, or if they had combined purchases
of covered financial services from
foreign persons that exceeded $15
million for the previous fiscal year, or
are expected to exceed that amount
during the current fiscal year.
The data are needed to monitor U.S.
trade in financial services, to analyze
the impact of these cross-border services
on the U.S. and foreign economies, to
compile and improve the U.S. economic
accounts, to support U.S. commercial
policy on trade in services, to conduct
trade promotion, and to improve the
ability of U.S. businesses to identify and
evaluate market opportunities. The data
are used in estimating the trade in
financial services component of the U.S.
international transactions accounts
(ITAs) and national income and product
accounts (NIPAs).
The Bureau of Economic Analysis
(BEA) is proposing two modifications to
the existing transaction categories
covered by the BE–185 survey and a
change to the survey due date,
beginning with reporting for first quarter
2022. The proposed modifications to the
BE–185 survey would allow BEA to
increase the quality and usefulness of
BEA’s statistics on trade in financial
services.
BEA proposes to add ‘‘brokerage
services related to debt transactions’’ as
a separate transaction category. The
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20:00 May 25, 2021
Jkt 253001
change will result in three categories for
brokerage services, rather than the
current two categories on the survey.
The three categories collected on the
survey will be brokerage services related
to equity transactions (code 1),
brokerage services related to debt
transactions (code 1.1), and brokerage
services related to other transactions
(code 2). In reviewing brokerage
transactions reported on the survey over
the last several years, BEA has
determined that most survey
respondents can provide brokerage
related to debt securities because this
information is readily available in their
records. BEA will provide updated
instructions to ensure accurate reporting
of brokerage transactions.
BEA proposes to break ‘‘financial
advisory and custody services’’ into two
separate transaction categories. The
change will result in two separate
transaction categories of financial
advisory services (code 7), and financial
custody services (code 7.1). In reviewing
transactions reported in the combined
‘‘financial advisory and custody
services’’ category over the last several
years, BEA has determined that these
transactions are distinctly different in
nature and collecting them in a single
transaction category may be confusing
to survey respondents. BEA has also
determined that most respondents have
the ability to report details for these
activities separately because this
information is readily available in their
records. BEA will provide updated
instructions to ensure accurate
reporting.
BEA also proposes to change the due
date of the survey to 30 days after the
close of each quarter from 45 days for
the three quarters that are not the final
fiscal quarter of the year. For the close
of the final fiscal quarter of the year,
reports would be due 45 days after the
close of the quarter instead of 90 days.
Shortening the reporting timeline will
allow BEA to produce more accurate
and complete trade in services statistics
in preliminary estimates of the ITAs,
which is critical information for
policymakers’ timely decisions on
international trade policy. The earlier
due date will allow BEA to use more
reported data for preliminary statistics,
improving the accuracy of both the
aggregates and the country detail, and
reducing revisions in subsequent
statistical releases. In addition, the
proposed reporting deadlines are also
consistent with the reporting deadline
of BEA’s quarterly direct investment
surveys.
BEA estimates there will be a small
increase in the total burden for the
survey due to the change in transaction
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detail required, but the average number
of burden hours per response will
continue to average 10 hours for
companies filing country detail. BEA
estimates that approximately 100 survey
respondents will experience a burden
increase of less than 10 percent.
Although the estimated change is
measurable, only a small portion of the
total reporters are affected. BEA believes
these data are readily available in their
accounting records. When total burden
for completing the survey is averaged
across all reporters, factoring in the
additional time BEA believes these
reporters will spend complying with the
survey, burden for completing the
survey continues to average 10 hours
per response.
BEA estimates there will be no change
in burden hours per response as a result
of the proposed change in survey due
dates. While survey respondents will
have to file earlier, the burden for the
survey is unchanged because the same
information, other than the two changes
described above, will be required on the
survey as in the past. The language in
the instructions and definitions will be
reviewed and adjusted as necessary to
clarify survey requirements.
II. Method of Collection
BEA contacts potential respondents
by mail at the end of each quarter.
Respondents would be required to file
the completed BE–185 forms within 30
days after the end of each fiscal quarter
that is not the final fiscal quarter of the
year and within 45 days after the close
of the final fiscal quarter of the year.
Reports would be required from each
U.S. person that had combined sales of
covered financial services to foreign
persons that exceeded $20 million for
the previous fiscal year, or are expected
to exceed that amount during the
current fiscal year, or that had combined
purchases of covered financial services
from foreign persons that exceeded $15
million for the previous fiscal year, or
that are expected to exceed that amount
during the current fiscal year. Entities
required to report will be contacted
individually by BEA. Entities not
contacted by BEA have no reporting
responsibilities.
BEA offers its electronic filing option,
the eFile system, for use in reporting on
Form BE–185. For more information
about eFile, go to www.bea.gov/efile. In
addition, BEA posts all its survey forms
and reporting instructions on its
website, www.bea.gov/ssb. These may
be downloaded, completed, printed, and
submitted via fax or mail.
III. Data
OMB Control Number: 0608–0065.
E:\FR\FM\26MYN1.SGM
26MYN1
Federal Register / Vol. 86, No. 100 / Wednesday, May 26, 2021 / Notices
Form Number(s): BE–185.
Type of Review: Regular submission.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
2,860 annually (715 filed each quarter;
580 reporting mandatory data, and 135
that would file exemption claims or
voluntary responses).
Estimated Time per Response: 10
hours is the average for those reporting
data and one hour is the average for
those filing an exemption claim. Hours
may vary considerably among
respondents because of differences in
company size and complexity.
Estimated Total Annual Burden
Hours: 24,140.
Estimated Total Annual Cost to
Public: $0.
Respondent’s Obligation: Mandatory.
Legal Authority: International
Investment and Trade in Services
Survey Act (Pub. L. 94–472, 22 U.S.C.
3101–3108, as amended), and Section
5408 of the Omnibus Trade and
Competitiveness Act of 1988.
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 that you submit in
response to this notice are a matter of
public record. We will include or
summarize each comment in our request
to OMB to approve this ICR. Before
including your address, phone number,
email address, or other personal
identifying information in your
comment, you should be aware that
your entire comment—including your
personal identifying information—may
be made publicly available at any time.
While you may ask us in your comment
to withhold your personal identifying
information from public review, we
cannot guarantee that we will be able to
do so.
Sheleen Dumas,
Department PRA Clearance Officer, Office of
the Chief Information Officer, Commerce
Department.
[FR Doc. 2021–11101 Filed 5–25–21; 8:45 am]
BILLING CODE 3510–06–P
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20:00 May 25, 2021
Jkt 253001
DEPARTMENT OF COMMERCE
Foreign-Trade Zones Board
[B–03–2021]
Foreign-Trade Zone (FTZ) 38—
Charleston, South Carolina;
Authorization of Production Activity;
BMW Manufacturing Company, LLC
(Passenger Motor Vehicles),
Spartanburg, South Carolina
On January 21, 2021, BMW
Manufacturing Company, LLC (BMW
MC) submitted a notification of
proposed production activity to the FTZ
Board for its facility within Subzone
38A, in Spartanburg, South Carolina.
The notification was processed in
accordance with the regulations of the
FTZ Board (15 CFR part 400), including
notice in the Federal Register inviting
public comment (86 FR 7694–7695,
February 1, 2021). On May 21, 2021, the
applicant was notified of the FTZ
Board’s decision that no further review
of the activity is warranted at this time.
The production activity described in the
notification was authorized, subject to
the FTZ Act and the FTZ Board’s
regulations, including Section 400.14.
Dated: May 21, 2021.
Elizabeth Whiteman,
Acting Executive Secretary.
[FR Doc. 2021–11135 Filed 5–25–21; 8:45 am]
BILLING CODE 3510–DS–P
DEPARTMENT OF COMMERCE
Bureau of Industry and Security
[Docket No. 210325–0066]
RIN 0694–XC076
Reporting for Calendar Year 2020 on
Offsets Agreements Related to Sales
of Defense Articles or Defense
Services to Foreign Countries or
Foreign Firms
Bureau of Industry and
Security, Department of Commerce.
ACTION: Notice; annual reporting
requirements.
AGENCY:
This notice is to remind the
public that U.S. firms are required to
report annually to the Department of
Commerce (Commerce) information on
contracts for the sale of defense articles
or defense services to foreign countries
or foreign firms that are subject to
offsets agreements exceeding $5,000,000
in value. U.S. firms are also required to
report annually to Commerce
information on offsets transactions
completed in performance of existing
offsets commitments for which offsets
SUMMARY:
PO 00000
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Fmt 4703
Sfmt 4703
28335
credit of $250,000 or more has been
claimed from the foreign representative.
This year, such reports must include
relevant information from calendar year
2020 and must be submitted to
Commerce no later than June 15, 2021.
ADDRESSES: Submit reports in both hard
copy and electronically. Address the
hard copy to ‘‘Offsets Program Manager,
U.S. Department of Commerce, Office of
Strategic Industries and Economic
Security, Bureau of Industry and
Security (BIS), Room 3878, Washington,
DC 20230’’. Submit electronic copies to
OffsetReport@bis.doc.gov.
FOR FURTHER INFORMATION CONTACT:
Ronald DeMarines, Office of Strategic
Industries and Economic Security,
Bureau of Industry and Security, U.S.
Department of Commerce, telephone:
202–482–3755; fax: 202–482–5650;
email: ronald.demarines@bis.doc.gov.
SUPPLEMENTARY INFORMATION:
Background
Section 723(a)(1) of the Defense
Production Act of 1950, as amended
(DPA) (50 U.S.C. 4568 (2021)) requires
the President to submit an annual report
to Congress on the impact of offsets on
the U.S. defense industrial base. Section
723(a)(2) directs the Secretary of
Commerce (Secretary) to prepare the
President’s report and to develop and
administer the regulations necessary to
collect offsets data from U.S. defense
exporters.
The authorities of the Secretary
regarding offsets have been delegated to
the Under Secretary of Commerce for
Industry and Security. The regulations
associated with offsets reporting are set
forth in part 701 of title 15 of the Code
of Federal Regulations (Offsets
Regulations). Offsets are compensation
practices required as a condition of
purchase in either government-togovernment or commercial sales of
defense articles and/or defense services,
as defined by the Arms Export Control
Act (22 U.S.C. 2778) and the
International Traffic in Arms
Regulations (22 CFR 120–130). Offsets
are also applicable to certain items
controlled on the Commerce Control list
(CCL) and with an Export Control
Classification Number (ECCN) including
the numeral ‘‘6’’ as its third character.
The CCL is found in Supplement No. 1
to part 774 of the Export Administration
Regulations.
An example of an offset is as follows:
A company that is selling a fleet of
military aircraft to a foreign government
may agree to offset the cost of the
aircraft by providing training assistance
to plant managers in the purchasing
country. Although this distorts the true
E:\FR\FM\26MYN1.SGM
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]]>Agencies
[Federal Register Volume 86, Number 100 (Wednesday, May 26, 2021)]
[Notices]
[Pages 28333-28335]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11101]
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Agency Information Collection Activities; Submission to the
Office of Management and Budget (OMB) for Review and Approval; Comment
Request; Services Surveys: BE-185, Quarterly Survey of Financial
Services Transactions Between U.S. Financial Services Providers and
Foreign Persons
AGENCY: Bureau of Economic Analysis, Department of Commerce.
ACTION: Notice of information collection, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Department of Commerce, in accordance with the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to comment on proposed, and continuing information
collections, which helps us assess the impact of our information
collection requirements and minimize the public's reporting burden. The
purpose of this notice is to allow for 60 days of public comment
preceding submission of the collection to OMB.
DATES: To ensure consideration, comments regarding this proposed
information collection must be received on or before July 26, 2021.
ADDRESSES: Interested persons are invited to submit written comments to
Christopher Stein, Chief, Services Surveys Branch, Bureau of Economic
Analysis, by email to [email protected] or [email protected].
Please reference OMB Control Number 0608-0065 in the subject line of
your comments. Do not submit Confidential
[[Page 28334]]
Business Information or otherwise sensitive or protected information.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
specific questions related to collection activities should be directed
to Christopher Stein, Chief, Services Surveys Branch, Bureau of
Economic Analysis; (301) 278-9189; or via email at
[email protected].
SUPPLEMENTARY INFORMATION:
I. Abstract
The Quarterly Survey of Financial Services Transactions between
U.S. Financial Services Providers and Foreign Persons (Form BE-185) is
a survey that collects data from U.S. persons who engage in covered
financial services transactions. A U.S. person means any individual,
branch, partnership, associated group, association, estate, trust,
corporation, or other organization (whether or not organized under the
laws of any State), resident in the United States or subject to the
jurisdiction of the United States. A U.S. person must report if they
had combined sales of covered financial services to foreign persons
that exceeded $20 million for the previous fiscal year, or are expected
to exceed that amount during the current fiscal year, or if they had
combined purchases of covered financial services from foreign persons
that exceeded $15 million for the previous fiscal year, or are expected
to exceed that amount during the current fiscal year.
The data are needed to monitor U.S. trade in financial services, to
analyze the impact of these cross-border services on the U.S. and
foreign economies, to compile and improve the U.S. economic accounts,
to support U.S. commercial policy on trade in services, to conduct
trade promotion, and to improve the ability of U.S. businesses to
identify and evaluate market opportunities. The data are used in
estimating the trade in financial services component of the U.S.
international transactions accounts (ITAs) and national income and
product accounts (NIPAs).
The Bureau of Economic Analysis (BEA) is proposing two
modifications to the existing transaction categories covered by the BE-
185 survey and a change to the survey due date, beginning with
reporting for first quarter 2022. The proposed modifications to the BE-
185 survey would allow BEA to increase the quality and usefulness of
BEA's statistics on trade in financial services.
BEA proposes to add ``brokerage services related to debt
transactions'' as a separate transaction category. The change will
result in three categories for brokerage services, rather than the
current two categories on the survey. The three categories collected on
the survey will be brokerage services related to equity transactions
(code 1), brokerage services related to debt transactions (code 1.1),
and brokerage services related to other transactions (code 2). In
reviewing brokerage transactions reported on the survey over the last
several years, BEA has determined that most survey respondents can
provide brokerage related to debt securities because this information
is readily available in their records. BEA will provide updated
instructions to ensure accurate reporting of brokerage transactions.
BEA proposes to break ``financial advisory and custody services''
into two separate transaction categories. The change will result in two
separate transaction categories of financial advisory services (code
7), and financial custody services (code 7.1). In reviewing
transactions reported in the combined ``financial advisory and custody
services'' category over the last several years, BEA has determined
that these transactions are distinctly different in nature and
collecting them in a single transaction category may be confusing to
survey respondents. BEA has also determined that most respondents have
the ability to report details for these activities separately because
this information is readily available in their records. BEA will
provide updated instructions to ensure accurate reporting.
BEA also proposes to change the due date of the survey to 30 days
after the close of each quarter from 45 days for the three quarters
that are not the final fiscal quarter of the year. For the close of the
final fiscal quarter of the year, reports would be due 45 days after
the close of the quarter instead of 90 days. Shortening the reporting
timeline will allow BEA to produce more accurate and complete trade in
services statistics in preliminary estimates of the ITAs, which is
critical information for policymakers' timely decisions on
international trade policy. The earlier due date will allow BEA to use
more reported data for preliminary statistics, improving the accuracy
of both the aggregates and the country detail, and reducing revisions
in subsequent statistical releases. In addition, the proposed reporting
deadlines are also consistent with the reporting deadline of BEA's
quarterly direct investment surveys.
BEA estimates there will be a small increase in the total burden
for the survey due to the change in transaction detail required, but
the average number of burden hours per response will continue to
average 10 hours for companies filing country detail. BEA estimates
that approximately 100 survey respondents will experience a burden
increase of less than 10 percent. Although the estimated change is
measurable, only a small portion of the total reporters are affected.
BEA believes these data are readily available in their accounting
records. When total burden for completing the survey is averaged across
all reporters, factoring in the additional time BEA believes these
reporters will spend complying with the survey, burden for completing
the survey continues to average 10 hours per response.
BEA estimates there will be no change in burden hours per response
as a result of the proposed change in survey due dates. While survey
respondents will have to file earlier, the burden for the survey is
unchanged because the same information, other than the two changes
described above, will be required on the survey as in the past. The
language in the instructions and definitions will be reviewed and
adjusted as necessary to clarify survey requirements.
II. Method of Collection
BEA contacts potential respondents by mail at the end of each
quarter. Respondents would be required to file the completed BE-185
forms within 30 days after the end of each fiscal quarter that is not
the final fiscal quarter of the year and within 45 days after the close
of the final fiscal quarter of the year. Reports would be required from
each U.S. person that had combined sales of covered financial services
to foreign persons that exceeded $20 million for the previous fiscal
year, or are expected to exceed that amount during the current fiscal
year, or that had combined purchases of covered financial services from
foreign persons that exceeded $15 million for the previous fiscal year,
or that are expected to exceed that amount during the current fiscal
year. Entities required to report will be contacted individually by
BEA. Entities not contacted by BEA have no reporting responsibilities.
BEA offers its electronic filing option, the eFile system, for use
in reporting on Form BE-185. For more information about eFile, go to
www.bea.gov/efile. In addition, BEA posts all its survey forms and
reporting instructions on its website, www.bea.gov/ssb. These may be
downloaded, completed, printed, and submitted via fax or mail.
III. Data
OMB Control Number: 0608-0065.
[[Page 28335]]
Form Number(s): BE-185.
Type of Review: Regular submission.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 2,860 annually (715 filed each
quarter; 580 reporting mandatory data, and 135 that would file
exemption claims or voluntary responses).
Estimated Time per Response: 10 hours is the average for those
reporting data and one hour is the average for those filing an
exemption claim. Hours may vary considerably among respondents because
of differences in company size and complexity.
Estimated Total Annual Burden Hours: 24,140.
Estimated Total Annual Cost to Public: $0.
Respondent's Obligation: Mandatory.
Legal Authority: International Investment and Trade in Services
Survey Act (Pub. L. 94-472, 22 U.S.C. 3101-3108, as amended), and
Section 5408 of the Omnibus Trade and Competitiveness Act of 1988.
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 that you submit in response to this notice are a matter of
public record. We will include or summarize each comment in our request
to OMB to approve this ICR. Before including your address, phone
number, email address, or other personal identifying information in
your comment, you should be aware that your entire comment--including
your personal identifying information--may be made publicly available
at any time. While you may ask us in your comment to withhold your
personal identifying information from public review, we cannot
guarantee that we will be able to do so.
Sheleen Dumas,
Department PRA Clearance Officer, Office of the Chief Information
Officer, Commerce Department.
[FR Doc. 2021-11101 Filed 5-25-21; 8:45 am]
BILLING CODE 3510-06-P
