[Federal Register Volume 63, Number 132 (Friday, July 10, 1998)]
[Notices]
[Pages 37318-37319]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-18334]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Annual Survey of Foreign Direct Investment in the United States
ACTION: Proposed collection; comment request.
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SUMMARY: The Department of Commerce, as part of its continuing effort
to reduce paperwork and respondent burden, invites the general public
and other Federal agencies to comment on proposed and/or continuing
information collections, as required by the Paperwork Reduction Act of
1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
DATES: Written comments must be submitted on or before September 8,
1998.
ADDRESSES: Direct all written comments to Linda Engelmeier,
Departmental Forms Clearance Officer, Department of Commerce, Room
5327, 14th and Constitution Avenue, NW, Washington, DC 20230.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection instruments and instructions
should be directed to: R. David Belli, U.S. Department of Commerce,
Bureau of Economic Analysis, BE-50(OC), Washington, D.C. 20230
(Telephone: 202-606-9800).
SUPPLEMENTARY INFORMATION:
I. Abstract
The Annual Survey of Foreign Direct Investment in the United States
(Form BE-15) is necessary to provide reliable, useful, and timely
measures of foreign direct investment in the United States. The annual
survey covers all affiliates above a size-exemption level and collects
annual data on the financial structure and operations of nonbank U.S.
affiliates of foreign companies needed to update similar data for the
universe of U.S. affiliates collected once every 5 years in the BE-12
benchmark survey. The data are used to derive annual estimates of the
operations of U.S. affiliates of foreign companies, including their
balance sheets; income statements; property, plant, and equipment;
external financing; employment and employee
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compensation; merchandise trade; sales of goods and services; taxes;
and research and development (R&D) activity. The data will be used to
measure the economic significance of foreign direct investment in the
United States and to analyze its effect on the U.S. economy. They will
also be used in formulating, and assessing the impact of, U.S. policy
on foreign direct investment.
Several revisions to the survey are being proposed to bring it into
conformity with the BE-12 Benchmark Survey of Foreign Direct Investment
in the United States--1997. BEA proposes to raise the exemption level
for the survey to $30 million on the BE-15(SF) short form, up from $10
million (measured by the company's total assets, sales, or net income
or loss), thereby reducing respondent burden for small companies; on
the survey's long form, the BE-15(LF), the exemption level will be
raised to $100 million, up from $50 million. In addition, BEA proposes
to base industry coding on the North American Industry Classification
System (NAICS) in place of the U.S. Standard Industrial Classification
system, and to modify the detail collected on the composition of
external financing of the reporting enterprise, on research and
development expenditures, and on the operations of foreign-owned
businesses in individual States.
II. Method of Collection
The BE-15 annual survey will be sent to potential respondents at
the end of March each year. A completed report covering a reporting
company's fiscal year ending during the previous calendar year will be
due to be filed by May 31, 60 days after mailing. Reports must be filed
by every nonbank U.S. business enterprise that is owned 10 percent or
more by a foreign investor and that has total assets, sales, or net
income (or loss) of over $30 million. Potential respondents are those
U.S. business enterprises that report in the 1997 benchmark survey of
foreign direct investment in the United States, along with affiliates
that subsequently enter the direct investment universe. The BE-15 is a
cutoff-sample survey, as described; universe estimates are developed
from the reported data.
III. Data
OMB Number: 0608-0034.
Form Number: BE-15.
Type of Review: Regular submission.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 4,975.
Estimated Time Per Response: 26 hours.
Estimated Total Annual Burden: 128,000 hours.
Estimated Total Annual Cost: $3,840,000 (based on an estimated
reporting burden of 128,000 hours and an estimated hourly cost of $30).
IV. Request for Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information has practical utility;
(b) the accuracy of the agency's estimate of the burden (including
hours and cost) of the proposed collection of information; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval of this information
collection; they also will become a matter of public record.
Dated: July 6, 1998.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and
Organization.
[FR Doc. 98-18334 Filed 7-9-98; 8:45 am]
BILLING CODE 3510-06-P