Frequently Asked Questions
Guidelines for Citing BEA Information | ID: 1015 | Created: Jan-11-2013
The ownership of real estate is defined to be a business enterprise, and if the real estate is foreign owned, it is a U.S. affiliate of a foreign person.
However, residential real estate held exclusively for personal use and not for profit making purposes is not subject to the reporting requirements. A residence that is an owner’s primary residence that is then leased by the owner while outside the United States, but which the owner intends to reoccupy, is considered real estate held for personal use and therefore not subject to the reporting requirements. Ownership of U.S. residential real estate by a corporation whose sole purpose is to hold the real estate for the personal use of the owner(s) of the corporation is considered to be real estate held for personal use and therefore not subject to the reporting requirements.
If the real estate meets the above requirements and is considered held for personal use, please complete the BE-12 Claim for not filing. BE-12 forms are currently being accepted through eFile at www.bea.gov/efile Also, fillable PDF’s of the forms can be obtained on BEA’s website at www.bea.gov/fdi
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