[Federal Register Volume 68, Number 56 (Monday, March 24, 2003)]
[Notices]
[Pages 14190-14191]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-6884]


-----------------------------------------------------------------------

DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposal To Collect Information on Direct Transactions of U.S. 
Reporter With Foreign Affiliate

ACTION: Proposed collection; comment request.

-----------------------------------------------------------------------

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 May 23, 2003.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Office of the Chief Information Officer, 
Department of Commerce, Room 6625, 14th and Constitution Avenue, NW., 
Washington, DC 20230, or via the Internet at [email protected], ((202) 
482-0266).

FOR FURTHER INFORMATION CONTACT: Direct requests for additional 
information or copies of the information collection instruments and 
instructions to Obie G. Whichard, Department of Commerce, Bureau of 
Economic Analysis, BE-50(OC), Washington, DC 20230, or via the Internet 
at [email protected], ((202) 606-9890).

SUPPLEMENTARY INFORMATION:

I. Abstract

    Form BE-577, Direct Transactions of U.S. Reporter with Foreign 
Affiliate, obtains quarterly data on transactions and positions between 
U.S.-owned foreign business enterprises and their U.S. parent 
companies. The survey is a cut-off sample survey that covers all 
foreign affiliates above a size-exemption level. The sample data are 
used to derive universe estimates in nonbenchmark years by 
extrapolating forward similar data reported in the BE-10, Benchmark 
Survey of U.S. Direct Investment Abroad, which is taken every five 
years. The data are used in the preparation of the U.S. international 
transactions accounts, the input-output accounts, and the national 
income and product accounts. The data are needed to measure the size 
and economic significance of direct investment abroad, measure changes 
in such investment, and assess its impact on the U.S. and foreign 
economies.
    The data from the survey are primarily intended as general purpose 
statistics. They should be readily available to answer any number of 
research and policy questions related to U.S. direct investment abroad.
    The form remains the same as in the past. No changes in data 
collected, or exemption levels are proposed.

II. Method of Collection

    Survey forms will be sent to U.S. parent companies each quarter; 
responses will be due within 30 days after the close of each fiscal 
quarter, except for the final quarter of the fiscal year, when reports 
should be filed within 45 days. A report must be filed for every 
foreign business enterprise whose voting stock (or the equivalent) is 
owned 10 percent or more by a U.S. business enterprise and for which 
any one of the following three items was greater than $30 million 
(positive or negative) at the end of, or for, the foreign business 
enterprise's fiscal year: (1) Total assets, (2) sales or gross 
operating revenues excluding sales taxes, or (3) net income after 
provision for foreign income taxes.
    Potential respondents are the U.S-owned foreign business 
enterprises that were reported in the last benchmark survey of U.S. 
direct investment abroad, which covered the year 1999, along with the 
foreign business enterprises that subsequently entered the direct 
investment universe. The data collected are cut-off sample data. 
Universe estimates are developed from the reported sample data.

III. Data

    OMB Number: 0608-0004.
    Form Number: BE-577.
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 13,500 per quarter; 54,000 
annually.
    Estimated Time Per Response: 1.25 hours is the average, but may 
vary according to the number, size, and complexity of the businesses 
covered by the response.
    Estimated Total Annual Burden: 67,500 hours.
    Estimated Total Annual Cost: $2,025,000 (based on an estimated 
reporting burden of 67,500 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.


[[Page 14191]]


    Dated: March 18, 2003.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 03-6884 Filed 3-21-03; 8:45 am]
BILLING CODE 3510-06-P