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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.
BEA will notify entities potentially affected by the change in 2017:
If you believe you have entities affected by the change and you received your regular BEA survey mailing in calendar year 2017, but it did not include instructions on how to inform BEA on which of your entities are affected by the change; visit www.bea.gov/privatefunds and use the corresponding decision tool to help you determine the reporting requirements for your entities. The decision tools will provide instructions on how to notify BEA about the affected entities.
DO NOT include seized, liquidated, expropriated, or sold entities as being affected by the change in reporting requirements for private funds.
Please notify BEA of the seized, liquidated, expropriated, or sold entity by filing the BE-11 Claim for exemption form and indicate the appropriate reason for filing the claim.
If the company no longer exists, or the foreign investment in the company fell below a 10% voting interest (direct or indirect), the BE-12 Claim for Not Filing must be submitted.
The BE-12 benchmark survey is BEA's most comprehensive survey, in terms of both the number of companies covered and the amount of information gathered, on foreign direct investment in the United States. The survey is conducted once every 5 years in place of the BE-15 annual survey. The BE-15 annual survey is conducted during the 4 years in between benchmark surveys.
A completed BE-12 report for 2022 is due May 31, 2023. For respondents utilizing the BEA eFile system at www.bea.gov/efile, the due date is June 30, 2023.