|After the UK Brexit referendum of 23 June the implications on the political, economic and legal relations between the UK and the EU have been discussed from many angles. But what about...|
Commerce Department Reinstates Mandatory Reporting Requirements for Certain Foreign Direct Investments in U.S. Companies and Real Estate
Form BE-13 was discontinued in 2009 due to budget constraints, but BEA now has created five BE-13 forms to collect the FDI survey data (each form specific to a particular type of FDI), plus a BE-13 exemption form. Certain exemptions are available, including one for FDI transactions valued at $3 million or less, but the U.S. business must file a report claiming the exemption.
As of November 24, 2014, U.S. companies must file the BE-13 within 45 days of the effective date of the reportable transaction. Significantly, the BE-13 filing requirement also applies retroactively to any transaction completed in 2014. For transactions completed on or before November 24, 2014, the filing is due by January 12, 2015. Failure to file Form BE-13 could result in the assessment of civil penalties; if the failure to file is willful, criminal penalties or imprisonment could apply.
For more information on the Form BE-13 reporting requirements click here.
The Department of Energy (DOE) recently published its revised Part 810 Guidance on compliance with the amended Part 810 Regulations on nuclear export controls (10 C.F.R. Part 810). The 2015 ...24 June 2016
FinCEN Designates North Korea as a Jurisdiction of Primary Money Laundering Concern, Triggering Additional Due Diligence Requirements for Financial Institutions
Pursuant to the North Korea Sanctions and Policy Enhancement Act of 2016’s requirement that the Secretary of the Treasury determine whether North Korea is a jurisdiction of...16 June 2016