Direct Investment Surveys: BE-13, Survey of New Foreign Direct Investment in the United States, 58955-58957 [2022-21116]
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Federal Register / Vol. 87, No. 188 / Thursday, September 29, 2022 / Rules and Regulations
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 the
calendar year covered by the survey.
Certain private funds are exempt from
reporting on the BE–12 survey. If a U.S.
business meets ALL of the following 3
criteria, it is not required to file any BE–
12 report except to indicate exemption
from the survey if contacted by BEA:
(1) The U.S. business enterprise is a
private fund;
(2) The private fund does not own,
directly or indirectly through another
business enterprise, an ‘‘operating
company’’—i.e., a business enterprise
that is not a private fund or a holding
company—in which the foreign parent
owns at least 10 percent of the voting
interest; and
(3) If the foreign parent owns the
private fund indirectly (through one or
more other U.S. business enterprises),
there are no U.S. ‘‘operating companies’’
between the foreign parent and the
indirectly-owned private fund.
(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 the calendar year covered by the
survey:
(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
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 the
calendar year covered by the survey.
(ii) A minority-owned U.S. affiliate
(for purposes of this survey, a
‘‘minority-owned’’ U.S. affiliate is one
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in which the combined direct and
indirect ownership interest of all foreign
parents of the U.S. affiliate is 50 percent
or less) 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 the
calendar year covered by the survey .
(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 the
calendar year covered by the survey.
(4) Any U.S. person that is contacted
by BEA concerning the BE–12 survey,
but is not subject to the reporting
requirements, must file a BE–12 Claim
for Not Filing. The requirement in this
paragraph (c)(4) is necessary to ensure
compliance with reporting requirements
and efficient administration of the Act
by eliminating unnecessary follow-up
contact.
(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 of the year after the year covered
by the survey (or by June 30 for
reporting companies that use BEA’s
eFile system).
[FR Doc. 2022–21113 Filed 9–28–22; 8:45 am]
BILLING CODE 3510–06–P
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58955
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 801
[Docket No. 220923–0197]
RIN 0691–AA92
Direct Investment Surveys: BE–13,
Survey of New Foreign Direct
Investment in the United States
Bureau of Economic Analysis,
Commerce.
ACTION: Final rule.
AGENCY:
This final rule amends
regulations of the Department of
Commerce’s Bureau of Economic
Analysis (BEA) to set forth the reporting
requirements for the BE–13, Survey of
New Foreign Direct Investment in the
United States (‘‘BE–13 survey’’). The
BE–13 survey collects information on
the acquisition or establishment of U.S.
business enterprises by foreign
investors, and information on
expansions by existing U.S. affiliates of
foreign companies. The data collected
through the survey are used to measure
the amount of new foreign direct
investment in the United States and
ensure complete coverage of BEA’s
other foreign direct investment
statistics. BEA will change the reporting
requirements of the survey to reduce
respondent burden, simplify reporting,
and increase the efficiency of the data
collection. This mandatory BE–13
survey is required from persons subject
to the reporting requirements, whether
or not they are contacted by BEA.
DATES: This final rule is effective
October 31, 2022.
FOR FURTHER INFORMATION CONTACT:
Ricardo Limes, Chief, Direct
Transactions and Positions Branch (BE–
49NI), Bureau of Economic Analysis,
U.S. Department of Commerce, 4600
Silver Hill Road, Washington, DC
20233; email Ricardo.limes@bea.gov or
301–278–9659.
SUPPLEMENTARY INFORMATION: The BE–
13, Survey of New Foreign Direct
Investment in the United States, is a
mandatory survey conducted by BEA
under the authority of the International
Investment and Trade in Services
Survey Act (22 U.S.C. 3101–3108).
The purpose of the BE–13 survey is to
collect data on the acquisition or
establishment of U.S. business
enterprises by foreign investors and the
expansion of existing U.S. affiliates of
foreign companies to establish a new
facility where business is conducted.
The data collected on the survey are
used to measure the amount and
SUMMARY:
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58956
Federal Register / Vol. 87, No. 188 / Thursday, September 29, 2022 / Rules and Regulations
economic significance of new foreign
direct investment in the United States
and assess its impact on the U.S.
economy. Foreign direct investment in
the United States is defined as the
ownership or control, directly or
indirectly, by one foreign person
(foreign parent) of 10 percent or more of
the voting securities of an incorporated
U.S. business enterprise, or an
equivalent interest of an unincorporated
U.S. business enterprise, including a
branch.
This final rule amends 15 CFR 801.7
to set forth the reporting requirements
for the BE–13, Survey of New Foreign
Direct Investment in the United States.
Under this rule, persons subject to the
reporting requirements of the BE–13,
Survey of New Foreign Direct
Investment in the United States, are
required to respond, whether or not they
are contacted by BEA.
khammond on DSKJM1Z7X2PROD with RULES
Description of Changes
This final rule amends the regulations
at 15 CFR part 801 by modifying § 801.7.
Specifically, BEA changes the reporting
requirements of form BE–13E, Fiscal
Year End Cost Update for Projects
Originally Reported on Forms BE–13B
and BE–13D. The form collects updated
cost information for greenfield
investments—i.e., establishments or
expansions of U.S. businesses by foreign
investors filed on BE–13B or BE–13D
forms, respectively—and is required to
be filed annually until the establishment
or expansion of the U.S. business
enterprise is complete.
BEA will limit the filing requirement
of the BE–13E form to three years after
the year the investment is initiated. BEA
has found that this timeframe would be
sufficient to collect the vast majority of
the changes to total planned
expenditures of greenfield investments
and provide data users with insightful
statistics on the ultimate cost of these
investments. The change will reduce
respondent burden and the BEA
resources needed to continue to collect
and process these updates, allowing
BEA to focus resources on the featured
statistics for more recent periods.
On June 28, 2022, BEA published a
notice of proposed rulemaking that set
forth revised reporting criteria for the
BE–13, Survey of New Foreign Direct
Investment in the United States (87 FR
38311). No comments were received on
the proposed rule.
Executive Order 12866
This final rule has been determined to
be not significant for purposes of E.O.
12866.
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16:48 Sep 28, 2022
Jkt 256001
This final rule does not contain
policies with federalism implications
sufficient to warrant preparation of a
federalism assessment under E.O.
13132.
substantial number of small entities. No
comments were received on that
certification or on the economic impacts
of this rule more generally. Therefore,
no regulatory flexibility analysis is
required and none has been prepared.
Paperwork Reduction Act
List of Subjects in 15 CFR Part 801
The collection-of-information in this
final rule was submitted to the Office of
Management and Budget (OMB)
pursuant to the requirements of the
Paperwork Reduction Act (PRA). OMB
approved the revision of the currently
approved information collection under
BE–13, Survey of New Foreign Direct
Investment in the United States, OMB
control number 0608–0035.
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.
The BE–13 survey is expected to
result in the filing of approximately
3,027 reports from U.S. affiliates each
year. The respondent burden for this
collection of information is expected to
vary because of differences in company
structure, size, and complexity, but is
estimated to average 1.1 hours per
response. The burden includes 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 3,027 hours, compared to
2,547 hours for the previous BE–13
survey estimate. The increase in burden
hours is due to the increase in the
overall number of respondents expected
to file, partially offset by a reduction in
the number of BE–13E forms expected
to be filed.
Written comments regarding the
burden-hour estimates or other aspects
of the collection-of-information
requirements contained in this final rule
should be sent to both BEA via email at
Ricardo.Limes@bea.gov and to OMB
Office of Information and Regulatory
Affairs (OIRA), Paperwork Reduction
Project 0608–0035, Attention PRA Desk
Officer for BEA, via email at OIRA_
Submission@omb.eop.gov.
Economic statistics, Foreign
investment in the United States,
International transactions, Penalties,
Reporting and recordkeeping
requirements.
Executive Order 13132
Regulatory Flexibility Act
The Chief Counsel for Regulation,
Department of Commerce, has certified
to the Chief Counsel for Advocacy,
Small Business Administration, at the
proposed rule stage that this action will
not have a significant impact on a
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Paul W. Farello,
Associate Director of International
Economics, Bureau of Economic Analysis.
For reasons set forth in the preamble,
BEA amends 15 CFR part 801 as
follows:
PART 801—SURVEY OF
INTERNATIONAL TRADE IN SERVICES
BETWEEN U.S. AND FOREIGN
PERSONS AND SURVEYS OF DIRECT
INVESTMENT
1. The authority citation for 15 CFR
part 801 continues to read as follows:
■
Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 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 § 801.7 to read as follows:
§ 801.7 Rules and regulations for the BE–
13, Survey of New Foreign Direct
Investment in the United States.
The BE–13, Survey of New Foreign
Direct Investment in the United States,
is conducted to collect data on the
acquisition or establishment of U.S.
business enterprises by foreign investors
and the expansion of existing U.S.
affiliates of foreign companies to
establish new facilities where business
is conducted. Foreign direct investment
is defined as the ownership or control
by one foreign person (foreign parent) of
10 percent or more of the voting
securities of an incorporated U.S.
business enterprise, or an equivalent
interest of an unincorporated U.S.
business enterprise, including a branch.
BEA will describe the proposed
information collection in a public notice
and will solicit comments according to
the requirements of the Paperwork
Reduction Act (44 U.S.C. 3501–3520).
All legal authorities, provisions,
definitions, and requirements contained
in §§ 801.1 and 801.2 and 801.4 through
801.6 are applicable to this survey.
Specific additional rules and regulations
for the BE–13 survey are given in
paragraphs (a) through (d) of this
section. More detailed instructions are
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Federal Register / Vol. 87, No. 188 / Thursday, September 29, 2022 / Rules and Regulations
given on the report forms and
instructions.
(a) Response required. A response is
required from persons subject to the
reporting requirements of the BE–13,
Survey of New Foreign Direct
Investment in the United States,
contained herein, whether or not they
are contacted by BEA. Also, a person, or
their agent, who is contacted by BEA
about reporting in this survey, either by
sending them a report form or by
written inquiry, must respond in writing
pursuant to this section. This may be
accomplished by filing the properly
completed BE–13 report (BE–13A, BE–
13B, BE–13D, BE–13E, or BE–13 Claim
for Exemption).
(b) Who must report. A BE–13 report
is required of any U.S. business
enterprise, except certain private funds,
see exception in paragraph (b)(4) of this
section, in which:
(1) A foreign direct investment in the
United States relationship is created;
(2) An existing U.S. affiliate of a
foreign parent establishes a new U.S.
business enterprise, expands its U.S.
operations, or acquires a U.S. business
enterprise; or
(3) BEA requests a cost update (Form
BE–13E) for a U.S. business enterprise
that previously filed Form BE–13B or
BE–13D.
(4) Certain private funds are exempt
from reporting on the BE–13 survey. If
a U.S. business enterprise is a private
fund and does not own, directly or
indirectly, 10 percent or more of another
business enterprise that is not also a
private fund or a holding company, it is
not required to file any BE–13 report
except to indicate exemption from the
survey if contacted by BEA.
(c) Forms to be filed. Depending on
the type of investment transaction, U.S.
affiliates would report their information
on one of five forms—BE–13A, BE–13B,
BE–13D, BE–13E, or BE–13 Claim for
Exemption.
(1) Form BE–13A—report for a U.S.
business enterprise when a foreign
entity acquires a voting interest
(directly, or indirectly through an
existing U.S. affiliate) in that U.S.
business enterprise including segments,
operating units, or real estate; and
(i) The total cost of the acquisition is
greater than $3 million; and
(ii) By this acquisition, the foreign
entity now owns at least 10 percent of
the voting interest (directly, or
indirectly through an existing U.S.
affiliate) in the acquired U.S. business
enterprise.
(2) Form BE–13B—report for a U.S.
business enterprise when it is
established by a foreign entity or by an
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existing U.S. affiliate of a foreign parent;
and
(i) The expected total cost to establish
the new U.S. business enterprise is
greater than $3 million; and
(ii) The foreign entity owns at least 10
percent of the voting interest (directly,
or indirectly through an existing U.S.
affiliate) in the new U.S. business
enterprise.
(3) Form BE–13D—report for an
existing U.S. affiliate of a foreign parent
when it expands its operations to
include a new facility where business is
conducted, and the expected total cost
of the expansion is greater than $3
million.
(4) Form BE–13E—report for a U.S.
business enterprise that previously filed
Form BE–13B or BE–13D. Form BE–13E
collects updated cost information and
will be collected annually for three
years after the year of the establishment
or expansion of the U.S. business
enterprise.
(5) Form BE–13 Claim for
Exemption—report for a U.S. business
enterprise that:
(i) Was contacted by BEA but does not
meet the requirements for filing Forms
BE–13A, BE–13B, or BE–13D; or
(ii) Whether or not contacted by BEA,
met all requirements for filing Forms
BE–13A, BE–13B, or BE–13D except the
$3 million reporting threshold.
(d) Due date. The BE–13 forms are
due no later than 45 calendar days after
the acquisition is completed, the new U.
S. business enterprise is established, the
expansion is begun, the cost update is
requested, or a notification letter is
received from BEA by a U.S. business
enterprise that does not meet the filing
requirements for the survey.
§ 227.201
58957
Disclosure requirements.
*
*
*
*
*
(z) Any written communication or
broadcast script provided in accordance
with § 227.206 or, if within 30 days of
the initial filing of the offering
statement, § 230.241 of this chapter.
*
*
*
*
*
[FR Doc. 2022–21290 Filed 9–28–22; 8:45 am]
BILLING CODE 0099–10–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Food and Drug Administration
21 CFR Parts 510, 515, 516, 520, 522,
524, 529, and 558
[Docket No. FDA–2022–N–0002]
New Animal Drugs; Approval of New
Animal Drug Applications; Withdrawal
of Approval of New Animal Drug
Applications; Change of Sponsor;
Change of Sponsor Name and Address
AGENCY:
Food and Drug Administration,
HHS.
Final rule; technical
amendments.
ACTION:
Regulation Crowdfunding, General
Rules and Regulations
The Food and Drug
Administration (FDA or we) is
amending the animal drug regulations to
reflect application-related actions for
new animal drug applications (NADAs)
and abbreviated new animal drug
applications (ANADAs) during January,
February, and March 2022. FDA is
informing the public of the availability
of summaries of the basis of approval
and of environmental review
documents, where applicable. The
animal drug regulations are also being
amended to improve the accuracy of the
regulations.
DATES: This rule is effective September
29, 2022.
FOR FURTHER INFORMATION CONTACT:
George K. Haibel, Center for Veterinary
Medicine (HFV–6), Food and Drug
Administration, 7500 Standish Pl.,
Rockville, MD 20855, 240–402–5689,
george.haibel@fda.hhs.gov.
SUPPLEMENTARY INFORMATION:
CFR Correction
I. Approvals
This rule is being published by the
Office of the Federal Register to correct
an editorial or technical error that
appeared in the most recent annual
revision of the Code of Federal
Regulations.
■ In Title 17 of the Code of Federal
Regulations, Parts 200 to 239, revised as
of April 1, 2022, amend § 227.201 by
adding paragraph (z) to read as follows:
FDA is amending the animal drug
regulations to reflect approval actions
for NADAs and ANADAs during
January, February, and March 2022, as
listed in table 1. In addition, FDA is
informing the public of the availability,
where applicable, of documentation of
environmental review required under
the National Environmental Policy Act
(NEPA) and, for actions requiring
[FR Doc. 2022–21116 Filed 9–28–22; 8:45 am]
BILLING CODE 3510–06–P
SECURITIES AND EXCHANGE
COMMISSION
17 CFR Part 227
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SUMMARY:
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]]>Agencies
[Federal Register Volume 87, Number 188 (Thursday, September 29, 2022)]
[Rules and Regulations]
[Pages 58955-58957]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-21116]
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 801
[Docket No. 220923-0197]
RIN 0691-AA92
Direct Investment Surveys: BE-13, Survey of New Foreign Direct
Investment in the United States
AGENCY: Bureau of Economic Analysis, Commerce.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: This final rule amends regulations of the Department of
Commerce's Bureau of Economic Analysis (BEA) to set forth the reporting
requirements for the BE-13, Survey of New Foreign Direct Investment in
the United States (``BE-13 survey''). The BE-13 survey collects
information on the acquisition or establishment of U.S. business
enterprises by foreign investors, and information on expansions by
existing U.S. affiliates of foreign companies. The data collected
through the survey are used to measure the amount of new foreign direct
investment in the United States and ensure complete coverage of BEA's
other foreign direct investment statistics. BEA will change the
reporting requirements of the survey to reduce respondent burden,
simplify reporting, and increase the efficiency of the data collection.
This mandatory BE-13 survey is required from persons subject to the
reporting requirements, whether or not they are contacted by BEA.
DATES: This final rule is effective October 31, 2022.
FOR FURTHER INFORMATION CONTACT: Ricardo Limes, Chief, Direct
Transactions and Positions Branch (BE-49NI), Bureau of Economic
Analysis, U.S. Department of Commerce, 4600 Silver Hill Road,
Washington, DC 20233; email [email protected] or 301-278-9659.
SUPPLEMENTARY INFORMATION: The BE-13, Survey of New Foreign Direct
Investment in the United States, is a mandatory survey conducted by BEA
under the authority of the International Investment and Trade in
Services Survey Act (22 U.S.C. 3101-3108).
The purpose of the BE-13 survey is to collect data on the
acquisition or establishment of U.S. business enterprises by foreign
investors and the expansion of existing U.S. affiliates of foreign
companies to establish a new facility where business is conducted. The
data collected on the survey are used to measure the amount and
[[Page 58956]]
economic significance of new foreign direct investment in the United
States and assess its impact on the U.S. economy. Foreign direct
investment in the United States is defined as the ownership or control,
directly or indirectly, by one foreign person (foreign parent) of 10
percent or more of the voting securities of an incorporated U.S.
business enterprise, or an equivalent interest of an unincorporated
U.S. business enterprise, including a branch.
This final rule amends 15 CFR 801.7 to set forth the reporting
requirements for the BE-13, Survey of New Foreign Direct Investment in
the United States. Under this rule, persons subject to the reporting
requirements of the BE-13, Survey of New Foreign Direct Investment in
the United States, are required to respond, whether or not they are
contacted by BEA.
Description of Changes
This final rule amends the regulations at 15 CFR part 801 by
modifying Sec. 801.7. Specifically, BEA changes the reporting
requirements of form BE-13E, Fiscal Year End Cost Update for Projects
Originally Reported on Forms BE-13B and BE-13D. The form collects
updated cost information for greenfield investments--i.e.,
establishments or expansions of U.S. businesses by foreign investors
filed on BE-13B or BE-13D forms, respectively--and is required to be
filed annually until the establishment or expansion of the U.S.
business enterprise is complete.
BEA will limit the filing requirement of the BE-13E form to three
years after the year the investment is initiated. BEA has found that
this timeframe would be sufficient to collect the vast majority of the
changes to total planned expenditures of greenfield investments and
provide data users with insightful statistics on the ultimate cost of
these investments. The change will reduce respondent burden and the BEA
resources needed to continue to collect and process these updates,
allowing BEA to focus resources on the featured statistics for more
recent periods.
On June 28, 2022, BEA published a notice of proposed rulemaking
that set forth revised reporting criteria for the BE-13, Survey of New
Foreign Direct Investment in the United States (87 FR 38311). No
comments were received on the proposed rule.
Executive Order 12866
This final rule has been determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This final rule does not contain policies with federalism
implications sufficient to warrant preparation of a federalism
assessment under E.O. 13132.
Paperwork Reduction Act
The collection-of-information in this final rule was submitted to
the Office of Management and Budget (OMB) pursuant to the requirements
of the Paperwork Reduction Act (PRA). OMB approved the revision of the
currently approved information collection under BE-13, Survey of New
Foreign Direct Investment in the United States, OMB control number
0608-0035.
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.
The BE-13 survey is expected to result in the filing of
approximately 3,027 reports from U.S. affiliates each year. The
respondent burden for this collection of information is expected to
vary because of differences in company structure, size, and complexity,
but is estimated to average 1.1 hours per response. The burden includes
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 3,027 hours, compared to 2,547 hours for
the previous BE-13 survey estimate. The increase in burden hours is due
to the increase in the overall number of respondents expected to file,
partially offset by a reduction in the number of BE-13E forms expected
to be filed.
Written comments regarding the burden-hour estimates or other
aspects of the collection-of-information requirements contained in this
final rule should be sent to both BEA via email at
[email protected] and to OMB Office of Information and Regulatory
Affairs (OIRA), Paperwork Reduction Project 0608-0035, Attention PRA
Desk Officer for BEA, via email at [email protected].
Regulatory Flexibility Act
The Chief Counsel for Regulation, Department of Commerce, has
certified to the Chief Counsel for Advocacy, Small Business
Administration, at the proposed rule stage that this action will not
have a significant impact on a substantial number of small entities. No
comments were received on that certification or on the economic impacts
of this rule more generally. Therefore, no regulatory flexibility
analysis is required and none has been prepared.
List of Subjects in 15 CFR Part 801
Economic statistics, Foreign investment in the United States,
International transactions, Penalties, Reporting and recordkeeping
requirements.
Paul W. Farello,
Associate Director of International Economics, Bureau of Economic
Analysis.
For reasons set forth in the preamble, BEA amends 15 CFR part 801
as follows:
PART 801--SURVEY OF INTERNATIONAL TRADE IN SERVICES BETWEEN U.S.
AND FOREIGN PERSONS AND SURVEYS OF DIRECT INVESTMENT
0
1. The authority citation for 15 CFR part 801 continues to read as
follows:
Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 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).
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2. Revise Sec. 801.7 to read as follows:
Sec. 801.7 Rules and regulations for the BE-13, Survey of New Foreign
Direct Investment in the United States.
The BE-13, Survey of New Foreign Direct Investment in the United
States, is conducted to collect data on the acquisition or
establishment of U.S. business enterprises by foreign investors and the
expansion of existing U.S. affiliates of foreign companies to establish
new facilities where business is conducted. Foreign direct investment
is defined as the ownership or control by one foreign person (foreign
parent) of 10 percent or more of the voting securities of an
incorporated U.S. business enterprise, or an equivalent interest of an
unincorporated U.S. business enterprise, including a branch. BEA will
describe the proposed information collection in a public notice and
will solicit comments according to the requirements of the Paperwork
Reduction Act (44 U.S.C. 3501-3520). All legal authorities, provisions,
definitions, and requirements contained in Sec. Sec. 801.1 and 801.2
and 801.4 through 801.6 are applicable to this survey. Specific
additional rules and regulations for the BE-13 survey are given in
paragraphs (a) through (d) of this section. More detailed instructions
are
[[Page 58957]]
given on the report forms and instructions.
(a) Response required. A response is required from persons subject
to the reporting requirements of the BE-13, Survey of New Foreign
Direct Investment in the United States, contained herein, whether or
not they are contacted by BEA. Also, a person, or their agent, who is
contacted by BEA about reporting in this survey, either by sending them
a report form or by written inquiry, must respond in writing pursuant
to this section. This may be accomplished by filing the properly
completed BE-13 report (BE-13A, BE-13B, BE-13D, BE-13E, or BE-13 Claim
for Exemption).
(b) Who must report. A BE-13 report is required of any U.S.
business enterprise, except certain private funds, see exception in
paragraph (b)(4) of this section, in which:
(1) A foreign direct investment in the United States relationship
is created;
(2) An existing U.S. affiliate of a foreign parent establishes a
new U.S. business enterprise, expands its U.S. operations, or acquires
a U.S. business enterprise; or
(3) BEA requests a cost update (Form BE-13E) for a U.S. business
enterprise that previously filed Form BE-13B or BE-13D.
(4) Certain private funds are exempt from reporting on the BE-13
survey. If a U.S. business enterprise is a private fund and does not
own, directly or indirectly, 10 percent or more of another business
enterprise that is not also a private fund or a holding company, it is
not required to file any BE-13 report except to indicate exemption from
the survey if contacted by BEA.
(c) Forms to be filed. Depending on the type of investment
transaction, U.S. affiliates would report their information on one of
five forms--BE-13A, BE-13B, BE-13D, BE-13E, or BE-13 Claim for
Exemption.
(1) Form BE-13A--report for a U.S. business enterprise when a
foreign entity acquires a voting interest (directly, or indirectly
through an existing U.S. affiliate) in that U.S. business enterprise
including segments, operating units, or real estate; and
(i) The total cost of the acquisition is greater than $3 million;
and
(ii) By this acquisition, the foreign entity now owns at least 10
percent of the voting interest (directly, or indirectly through an
existing U.S. affiliate) in the acquired U.S. business enterprise.
(2) Form BE-13B--report for a U.S. business enterprise when it is
established by a foreign entity or by an existing U.S. affiliate of a
foreign parent; and
(i) The expected total cost to establish the new U.S. business
enterprise is greater than $3 million; and
(ii) The foreign entity owns at least 10 percent of the voting
interest (directly, or indirectly through an existing U.S. affiliate)
in the new U.S. business enterprise.
(3) Form BE-13D--report for an existing U.S. affiliate of a foreign
parent when it expands its operations to include a new facility where
business is conducted, and the expected total cost of the expansion is
greater than $3 million.
(4) Form BE-13E--report for a U.S. business enterprise that
previously filed Form BE-13B or BE-13D. Form BE-13E collects updated
cost information and will be collected annually for three years after
the year of the establishment or expansion of the U.S. business
enterprise.
(5) Form BE-13 Claim for Exemption--report for a U.S. business
enterprise that:
(i) Was contacted by BEA but does not meet the requirements for
filing Forms BE-13A, BE-13B, or BE-13D; or
(ii) Whether or not contacted by BEA, met all requirements for
filing Forms BE-13A, BE-13B, or BE-13D except the $3 million reporting
threshold.
(d) Due date. The BE-13 forms are due no later than 45 calendar
days after the acquisition is completed, the new U. S. business
enterprise is established, the expansion is begun, the cost update is
requested, or a notification letter is received from BEA by a U.S.
business enterprise that does not meet the filing requirements for the
survey.
[FR Doc. 2022-21116 Filed 9-28-22; 8:45 am]
BILLING CODE 3510-06-P
