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BEA Survey Questions

I have transactions with countries that are not listed on the BE-185. Should I include those on the survey?

Yes, include services transactions that you have with all countries (even those that are not listed on the form). Write in the names of the countries on the lines below where it says “Other-Specify.” If you run out of space, use the overflow sheets provided or write the data on a separate sheet of paper, making sure that you list the proper service type with the proper country.

 

View and print all FAQs related to the BE-185 survey (PDF)

 

 

How do I indicate on the BE-185 what types of financial services I am selling/purchasing?

On page three of the survey, each type of service covered by the survey has a number corresponding to it (for example, brokerage services related to equity transactions are reported under service code 1). If you sold brokerage services related to equity transactions, in the space provided below “Service Code” on Schedule A, you would enter service code 1 for brokerage services related to equity transactions. If you check the “yes” box in Step 2, then enter the service code associated with that service on Schedule A (U.S. Reporter’s Sales of Financial Services to Foreign Persons).

How should transactions with international organizations be reported on the BE-185?

International organizations (such as the United Nations, the World Bank, and the International Monetary Fund) are, according to balance of payments conventions, considered foreign entities, even if they are headquartered in the United States. Transactions with these organizations should be reported on the BE-185. Enter “Int’l Org” under “Other – Specify country” on Schedules A or B, and enter the data for each service type for which you had transactions.

 

Should I report on an accrual basis or cash basis on the BE-185?

Report purchases or sales in the periods when they occur or are charged (that is, in the period when the provider of the service recognizes or performs the service), whether expensed by the purchaser of the service in that accounting period, amortized over several accounting periods, or included in expenses in a subsequent accounting period.

 

View and print all FAQs related to the BE-185 survey (PDF)

 

 

We purchased services from a German company, but we sent the payments to a Swiss bank. How should we report this transaction on the BE-185?

Since your transaction was with a German entity, you should report this as a transaction with Germany. Where the money actually goes is irrelevant, even if you were to send your payments to a bank in the United States as a matter of convenience.

 

View and print all FAQs related to the BE-185 survey (PDF)

 

 

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