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Mandatory Commerce Department Outbound Investment Survey Deadline Approaching

Brian P. Curran

Brian P. Curran,

Washington, D.C.

Beth Peters

Beth Peters,

Washington, D.C.

Anthony V. Capobianco

Anthony V. Capobianco,

Washington, D.C.

Deborah M. Wei

Deborah M. Wei,

Washington, D.C.

23 April 2015
Certain U.S. companies and their foreign affiliates should be aware that responses to a mandatory Commerce Department outbound investment survey are due as soon as May 29, 2015.  The survey is the BE-10 Benchmark Survey of U.S. Direct Investment Abroad, a broad statistical survey conducted every five years by the Commerce Department’s Bureau of Economic Analysis (BEA).  U.S. companies that fail to comply with the BE-10 reporting requirements could be subject to civil penalties of up to $25,000 or, in some cases, criminal penalties.

The BE-10 reporting requirements apply to any U.S. person that, at any time during the U.S. person’s 2014 fiscal year, had direct or indirect ownership or control of at least 10% of the voting securities of an incorporated foreign business or held an equivalent interest in an unincorporated foreign business (e.g., a branch).  A complete BE-10 report consists of a BE-10 form for the U.S. company that holds the voting interest in one or more foreign affiliates and separate BE-10 forms filed by the U.S. company on behalf of its foreign affiliates.

Please read our client alert for more details.

Brian P. Curran

Brian P. Curran,

Washington, D.C.

Beth Peters

Beth Peters,

Washington, D.C.

Anthony V. Capobianco

Anthony V. Capobianco,

Washington, D.C.

Deborah M. Wei

Deborah M. Wei,

Washington, D.C.

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