BEA Survey Questions

• A BE-140 survey is required of each U.S. insurance company that had insurance transactions with foreign persons in the categories covered by the survey during the reporting period. Any U.S. insurance company that did not have covered transactions with foreign persons is required to complete the survey through page 5, if notified by BEA about the survey.
• Any U.S.

The BE-140 covers insurance transactions between U.S. insurance companies and foreign persons for:

A U.S. insurance company, or its agent, that is contacted by BEA about reporting on this survey, either by sending a report form or by written inquiry, must respond in writing even if they did not have cross border services transactions during the reporting period. This may be accomplished by completing the determination of reporting status section of the BE-140 survey and returning it to BEA by the due date of the survey.

A response is required from U.S. insurance companies subject to the reporting requirements of the BE-140 Benchmark Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons, whether or not they are contacted by BEA.

You received this survey because your company has either filed a BE-140 benchmark or BE-45 quarterly survey in the past, or we believe that you may have had transactions covered by this survey based on publicly available information derived from news reports, trade journals, or industry data bases.

Yes. Standard consolidation rules require that a U.S. affiliate must file on a fully consolidated domestic U.S. basis, including in the full consolidation all U.S. business enterprises proceeding down each ownership chain whose voting securities are more than 50% owned by the U.S. business enterprise above. The fully consolidated entity is considered one U.S. affiliate.

Certain private funds are exempt from BE-12 reporting.  For more information on reporting requirements for private funds, visit www.bea.gov/privatefunds. 

If this entity received a notice to file from BEA, and is exempt from BE-12 filing, complete item (f) of the BE-12 Claim for Not Filing.  If this entity did NOT receive a notice from BEA, and is exempt from BE-12 filing, no action is necessary.

For BEA to efficiently process your report and disseminate the final results of the survey, it is important that you make every effort to file on time. Nevertheless, reasonable requests for extension of the filing deadline will normally be granted if requested BEFORE the due date of May 31, 2023 or by June 30, 2023 for respondents submitting via BEA’s eFile system at www.bea.gov/efile.

This category covers management services, consulting services, public relations service, and amounts received by a parent company from its affiliates for general overhead and stewardship. It excludes consulting engineering services related to actual or proposed construction projects (report under transaction number 16); computer consulting (report under transaction number 12); and public relations services that are an integral part of an advertising campaign (report under transaction code 10).

You have a few options. You could report this data on Schedule B under service code 4, financial management services, and list the country detail. Because the total purchases of this particular type of service totaled less than $15 million, you have a second option of reporting this data on Schedule B under service code 4, financial management services, without the country detail and reporting the total purchases of financial management services on line 29. Finally, you have the option of not reporting these transactions.