[Federal Register Volume 79, Number 40 (Friday, February 28, 2014)]
[Notices]
[Page 11398]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-04454]



[[Page 11398]]

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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

[Docket No. 140113032-4032-01]


BE-45: Quarterly Survey of Insurance Transactions by U.S. 
Insurance Companies With Foreign Persons

AGENCY: Bureau of Economic Analysis, Commerce.

ACTION: Notice of Reporting Requirements.

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SUMMARY: By this Notice, the Bureau of Economic Analysis (BEA), 
Department of Commerce, is informing the public that it is conducting 
the mandatory survey titled Quarterly Survey of Insurance Transactions 
by U.S. Insurance Companies with Foreign Persons (BE-45). This 
mandatory survey is conducted under the authority of the International 
Investment and Trade in Services Survey Act.

SUPPLEMENTARY INFORMATION: This Notice constitutes legal notification 
to all United States persons (defined below) who meet the reporting 
requirements set forth in this Notice that they must respond to, and 
comply with, the survey. Reports are due 60 days after the end of the 
U.S. person's fiscal quarter, except for the final quarter of the U.S. 
person's fiscal year when reports must be filed within 90 days. This 
notice is being issued in conformance with the rule BEA issued in 2012 
(77 FR 24373) establishing guidelines for collecting data on 
international trade in services and direct investment through notices, 
rather than through rulemakings. The BE-45 survey forms and 
instructions are available on the BEA Web site at www.bea.gov/surveys/iussurv.htm.

Definitions

    (a) Person means any individual, branch, partnership, associated 
group, association, estate, trust, corporation, or other organization 
(whether or not organized under the laws of any State), and any 
government (including a foreign government, the United States 
Government, a State or local government, and any agency, corporation, 
financial institution, or other entity or instrumentality thereof, 
including a government-sponsored agency).
    (b) United States person means any person resident in the United 
States or subject to the jurisdiction of the United States.
    (c) Foreign person means any person resident outside the United 
States or subject to the jurisdiction of a country other than the 
United States.
    Who Must Report: Reports are required from U.S. persons whose 
covered transactions: (a) Exceeded $8 million (positive or negative) in 
the prior fiscal year or (b) are expected to exceed that amount during 
the current fiscal year. Entities required to report will be contacted 
individually by the Bureau of Economic Analysis (BEA). Entities not 
contacted by BEA have no reporting responsibilities.
    What To Report: The survey is intended to collect information on 
cross-border insurance transactions between U.S. insurance companies 
and foreign persons. The survey is intended to collect information on 
transactions in the covered services occurring in the last quarter of 
calendar year 2013 and in the first three quarters of calendar year 
2014.
    How To Report: Reports can be filed via BEA's electronic reporting 
system at www.bea.gov/efile. Additionally, copies of the survey forms 
and instructions, which contain complete information on reporting 
procedures and definitions, can be obtained from the BEA Web site at 
www.bea.gov/surveys/iussurv.htm. Inquiries can be made to BEA at (202) 
606-5588.
    When To Report: Reports are due to BEA 60 days after the end of the 
fiscal quarter, except
    for the final quarter of the reporter's fiscal year when reports 
must be filed within 90 days.
    Paperwork Reduction Act Notice: This data collection has been 
approved by the Office of Management and Budget (OMB) in accordance 
with the Paperwork Reduction Act and assigned control number 0608-0066. 
An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid 
control number assigned by OMB. The estimated average annual public 
reporting burden for this collection of information is 8 hours per 
response. Send comments regarding this burden estimate to Director, 
Bureau of Economic Analysis (BE-1), U.S. Department of Commerce, 
Washington, DC 20230; and to the Office of Management and Budget, 
Paperwork Reduction Project 0608-0066, Washington, DC 20503.

    Authority:  22 U.S.C. 3101-3108, as amended.

J. Steven Landefeld,
Director, Bureau of Economic Analysis.
[FR Doc. 2014-04454 Filed 2-27-14; 8:45 am]
BILLING CODE 3510-06-P