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Yes. If two or more foreign entities hold a reportable interest in a U.S. affiliate, a separate Form BE-605 should be filed to report the transactions or accounts with each foreign parent.
Voting ownership is used to determine who has control of the U.S. affiliate and, therefore, who must file. However, use the equity percentage of ownership to report the amounts for Parts III, IV, and VI of the BE-605 form.
Enter the country of incorporation, not location, on the BE-605 form. If, however, the foreign parent is an individual or government, use the country of residence.
No. Complete the annual section of the BE-605 form only once a year, preferably after your financial statements have been audited.
The payable and receivable balances section of Form BE-605 is for reporting balances between the U.S. affiliate, as consolidated, and its affiliated foreign group. The affiliated foreign group includes the foreign parent and foreign affiliates of the foreign parent. This section also collects country detail for the balances between the U.S. affiliate and foreign affiliates of the foreign parent. If the U.S. affiliate has more than one foreign parent, then a separate BE-605 form should be filed for each foreign parent.
No. Do not report transactions with companies located in any U.S. territory or possession (or with any company located in the 50 states, the District of Columbia, or Puerto Rico).
Yes, all U.S. entities contacted by BEA must file. If you were contacted about filing the BE-15 and the BE-605, then a Claim for Exemption should be filed for both surveys. Note: First-time filers should file the BE-13 within 45 days of when their voting stock becomes more than 10 percent held by a foreign person or entity.
Your first BE-605 is due within 30 days of the end of your most recent fiscal quarter, or 45 days if it’s the final quarter of the financial reporting year. If the U.S. business entity is below the form’s exemption level OR the U.S. business entity is indirectly foreign owned and had no direct transactions with the foreign parent or any foreign affiliates of the foreign parent, then it should complete the Claim for Exemption, Contact Information, and the sections that identify the U.S. Affiliate, Foreign Parent, and Ultimate Beneficial Owner.
No, real property must be reported to the BEA in aggregate. To claim an exemption for real estate, the entirety of the U.S. property must be aggregated to report total assets, gross revenue (rent) and annual net income after the provision for tax.
No. Interest is not a financial services transaction covered by the survey. Please see Section V, Type of Financial Services Excluded From Coverage, of the general instructions for financial services not covered by the BE-85.
View and print all FAQs related to the BE-85 survey (PDF)