[Federal Register Volume 73, Number 157 (Wednesday, August 13, 2008)]
[Notices]
[Pages 47130-47131]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-18699]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposed Information Collection; Comment Request; Direct 
Investments Survey: Direct Transactions of U.S. Reporter with Foreign 
Affiliate

ACTION: Notice.

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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 take this opportunity to comment on 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995.

DATES: Written comments must be submitted on or before 5 p.m. October 
14, 2008.

ADDRESSES: Direct all written comments to Diane Hynek, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th 
and Constitution Avenue, NW., Washington, DC 20230, or via e-mail at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instructions should 
be directed to David Galler, Chief, Direct Investment Division (BE-50), 
Bureau of Economic Analysis, U.S. Department of Commerce, Washington, 
DC 20230; phone: (202) 606-9835; fax: (202) 606-5318; or via e-mail at 
[email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract

    The 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 sample survey that covers all foreign 
affiliates above a size-exemption level. The sample data are used to 
derive universe estimates in nonbenchmark years from 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 the data 
collected or in 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 $40 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.
    As an alternative to filing paper forms, BEA will offer an 
electronic filing option, its eFile system, for use in reporting on 
Form BE-577. For more information about eFile go to http://www.bea.gov/efile.
    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 data year 2004, along with 
the foreign business enterprises that subsequently entered the direct 
investment universe. The data collected are 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: Business or other for-profit organizations.
    Estimated Number of Respondents: 15,500 per quarter; 62,000 
annually.
    Estimated Time Per Response: 1 hour is the average, but may vary 
according to the number, size, and complexity of the businesses covered 
by the response.
    Estimated Total Annual Burden Hours: 62,000.
    Estimated Total Annual Cost to Public: $0.

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 will have 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

[[Page 47131]]

included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: August 8, 2008.
Gwellnar Banks,
Management Analyst, Office of Chief Information Officer.
[FR Doc. E8-18699 Filed 8-12-08; 8:45 am]
BILLING CODE 3510-06-P