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Please review the instructions for filing on the front page of the form and return a completed report, or valid claim for exemption, to BEA as soon as possible. Please contact our office if you will not be able to file within the time frame stated in the “Notice.”
If you require additional assistance or need further clarification on any matter related to the BE-10, Benchmark Survey of U.S. Direct Investment Abroad, as it applies to your private fund and/or its foreign entities, please call us at (301) 278-9418.
Please carefully review the ‘Which form do I file?’ document on www.bea.gov/be13. If you have difficulty determining how the reporting requirements apply to your situation, please contact us via email at be13@bea.gov or call us at (301) 278-9419.
Special consolidation rules apply for U.S. affiliates that are limited partnerships or that have an ownership interest in a U.S. limited partnership. Sections A through E below describe the consolidation rules under five different sets of circumstances. If your situation is not addressed, please contact us at be12/15@bea.gov or (301) 278-9247 for assistance.
The change implemented in 2017 by the Bureau of Economic Analysis (BEA) and the Treasury Department simplifies how certain cross-border investments by or into private funds are reported on Treasury International Capital (TIC) surveys of portfolio investment and BEA surveys of direct investment.
Private Fund refers to the same class of financial entities defined by the Securities and Exchange Commission as private funds on Form PF: "any issuer that would be an investment company as defined in section 3 of the Investment Company Act of 1940 but for section 3(c)(1) or 3(c)(7) of … [that] Act."
Additional information on the change in reporting requirements for private funds is available at www.bea.gov/privatefunds.
Under the change implemented in 2017, investments by U.S. entities of a 10 percent or more voting interest in a foreign private fund, and investments by foreign entities of a 10 percent or more voting interest in a U.S. domiciled private fund may not be required to report on BEA direct investment surveys if they meet the following criteria:
BEA defines “holding company” as a business enterprise which would be classified under industry code 5512, which are businesses engaged in holding the securities or financial assets of companies and enterprises for the purpose of owning a controlling interest in them or influencing their management decisions. Businesses in this industry do not manage the day-to-day operations of the firms whose securities they hold.
The change will be implemented beginning with surveys conducted in 2017:
The change to survey reporting requirements for private funds affects BEA’s direct investment surveys. These include surveys of U.S. direct investment abroad (USDIA), which are reported on forms BE-577, BE-10, and BE-11; and surveys of foreign direct investment in the United States (FDIUS), which are reported on forms BE-605, BE-13, BE-12, and BE-15.