Why was I contacted to file the 2022 BE-120?
You may be receiving notification from BEA regarding the BE-120 survey for one of several reasons:
BEA Survey Questions
My company is a brokerage house and we paid fees on a securities transaction to an unaffiliated brokerage house in Switzerland. Are such fees reportable on the BE-22 Schedule B under service code 11?
No. Service code 11 on the BE-22 only covers direct purchases from unaffiliated foreign persons of financial services by U.S. firms that are not financial services intermediaries or providers. For example, financial services purchased directly from unaffiliated foreign persons by a U.S. manufacturing firm are covered on Schedule B, service code 11 of the BE-22, but financial services purchased by a U.S. bank or brokerage house are covered on quarterly form BE-85.
Why do I need to complete the 2022 BE-120?
This survey is authorized by the International Investment and Trade in Services Survey Act. U.S. entities that receive this survey from BEA, or that have transactions with foreign persons covered by the survey, are required to complete and return the survey to BEA.
My company has been hired by the U.S. Government to provide education and training to organizations located in India. Are such transactions reported on the BE-22?
These services must be reported if they are provided abroad for U.S. Government nonmilitary agencies, such as the Agency for International Development, or that are part of an aid or technical cooperation program of the Government with foreign persons (for the transaction mentioned above, report it as a sale to India). However, do not report services provided to the U.S. Department of Defense or any of its agencies, such as the Army Corp of Engineers.
What are the 2022 BE-120 filing requirements?
- A BE-120 survey is required of each U.S. person that had transactions with foreign persons in the covered services or intellectual property during its 2022 fiscal year. Any U.S. person that did not have transactions in the covered services or intellectual property is required to complete through page 6, if notified by BEA about this survey.
- Any U.S.
Should I report all services not otherwise listed on the BE-22 under service code 16, other private services?
No. The BE-22 collects data only on selected services. Service code 16, other private services, collects data only on the following services: language translation services, salvage services, security services, collection services, satellite photography and remote sensing/satellite imagery services, space transport, and transcription services. Services that are not listed on the BE-22 should not be reported on the BE-22.
View and print all FAQs related to the BE-22 survey (PDF)
How do I obtain a copy of the 2022 BE-120 survey or additional overflow sheets?
- Go to http://www.bea.gov/surveys/pdf/be120.pdf to download a copy of the survey.
- Send an email to BE-120@bea.gov for an .xls or .pdf version of the BE-120.
- Call (301) 278-9303 to request the survey.
My company purchased mining services from three countries: $200 thousand from Norway, $500 thousand from the United Kingdom, and $100 thousand from Venezuela (totaling $800 thousand). How should I report the data on the BE-22?
You have a few options. You could report this data on Schedule B under service code 15, mining services, and list the country detail. Because the total purchases of this particular type of service totaled less than $1 million, you have a second option of reporting this data on Schedule B under service code 15, mining services, without the country detail and reporting the total purchases of mining services on line 32. Finally, you have the option of not reporting these transactions.
What is the due date for filing the 2022 BE-120?
A fully completed and certified BE-120 report, or qualifying exemption claim with the determination of reporting status section completed, is due to be filed with BEA not later than July 31, 2023.
I have transactions with countries that are not listed on the BE-22. 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-22 survey (PDF)