BEA Survey Questions | U.S. Bureau of Economic Analysis (BEA)

My foreign parent is located in one country but incorporated in another. Which country should I enter on Form BE-605?

Read more about My foreign parent is located in one country but incorporated in another. Which country should I enter on Form BE-605?

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.

Does the annual data section on the BE-605 form need to be completed every quarter?

Read more about Does the annual data section on the BE-605 form need to be completed every quarter?

No. Complete the annual section of the BE-605 form only once a year, preferably after your financial statements have been audited.

What is reported in the Payable and Receivable Balances Section of Form BE-605?

Read more about What is reported in the Payable and Receivable Balances Section of Form BE-605?

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.

Should transactions between the U.S. affiliate and foreign affiliates of the foreign parent located in any of the U.S. territories or possessions be reported on Form BE-605?

Read more about Should transactions between the U.S. affiliate and foreign affiliates of the foreign parent located in any of the U.S. territories or possessions be reported on Form BE-605?

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).

If the U.S. affiliate, as consolidated, is below the exemption threshold does it need to file a form?

Read more about If the U.S. affiliate, as consolidated, is below the exemption threshold does it need to file a form?

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.

How do I report if I was contacted about Form BE-605 for the first time?

Read more about How do I report if I was contacted about Form BE-605 for the first time?

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.

When foreign individuals own more than one piece of real estate in the United States, can they claim an exemption based on the value of each piece of property?

Read more about When foreign individuals own more than one piece of real estate in the United States, can they claim an exemption based on the value of each piece of property?

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.

We receive interest payments from a foreign corporation. Do we report the interest received under credit-related services on the BE-85?

Read more about We receive interest payments from a foreign corporation. Do we report the interest received under credit-related services on the BE-85?

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.

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Should I report all financial services not otherwise listed on the BE-85?

Read more about Should I report all financial services not otherwise listed on the BE-85?

No. Only report those financial services listed on the survey. Please see Section IV, Services Covered, of the general instructions for the list of services covered on this survey.

View and print all FAQs related to the BE-85 survey (PDF)

My company purchased financial management services from three countries: $5 million from Norway, $5 million from the United Kingdom, and $4 million from Venezuela (totaling $14 million). How should I report this data on the BE-85?

Read more about My company purchased financial management services from three countries: $5 million from Norway, $5 million from the United Kingdom, and $4 million from Venezuela (totaling $14 million). How should I report this data on the BE-85?

You have a few options. You could report this data on Schedule B under service code 3, 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 3, financial management services, without the country detail and reporting the total purchases of financial management services on line 20. Finally, you have the option of not reporting these transactions.