[Federal Register Volume 79, Number 213 (Tuesday, November 4, 2014)]
[Notices]
[Pages 65374-65375]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-26108]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposed Information Collection; Comment Request; Direct 
Investment Surveys: BE-605, Quarterly Survey of Foreign Direct 
Investment in the United States--Transactions of U.S. Affiliate With 
Foreign Parent

AGENCY: Bureau of Economic Analysis, Commerce.

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 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 January 5, 2015.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th 
and Constitution Avenue NW., Washington, DC 20230, or via email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Request for additional information or 
copies of the information collection instrument and instructions should 
be directed to Patricia Abaroa, Chief, Direct Investment Division (BE-
50), Bureau of Economic Analysis, U.S. Department of Commerce, 
Washington, DC 20230; phone: (202) 606-9591; fax: (202) 606-2894; or 
via email at [email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Quarterly Survey of Foreign Direct Investment in the United 
States--Transactions of U.S. Affiliate with Foreign Parent (BE-605) is 
a sample survey that collects data on transactions and positions 
between foreign-owned U.S. business enterprises and their ``affiliated 
foreign groups'' (i.e., their foreign parents and foreign affiliates of 
their foreign parents). The sample data are used to derive universe 
estimates in nonbenchmark years from similar data reported in the BE-
12, Benchmark Survey of Foreign Direct Investment in the United States, 
which is conducted every five years. The data are used in the 
preparation of the U.S. international transactions, national income and 
product, and input-output accounts and the net international investment 
position of the United States. The data are needed to measure the size 
and economic significance of foreign direct investment in the United 
States, measure changes in such investment, and assess its impact on 
the U.S. economy.
    The Bureau of Economic Analysis (BEA) proposes several changes to 
the survey that will improve the coverage and quality of BEA direct 
investment statistics and reduce respondent burden. BEA plans to add a 
check-box question that asks respondents whether they plan to expand 
their operation with a new facility. This information will be used to 
identify transactions that should be collected on the companion BE-13, 
Survey of New Foreign Direct Investment in the United States, which is 
being reinstated in 2014. BEA plans to eliminate several questions 
related to organizational structure. These questions were intended to 
serve as an instruction on how to identify the consolidated U.S. 
affiliate. They will be replaced by an illustration that will provide 
the necessary guidance and eliminate the burden of answering questions 
each quarter. BEA plans to add questions to obtain the ultimate 
beneficial owner's (UBO) name and country of incorporation when the UBO 
information changes or it is the company's initial filing. In addition, 
BEA plans to make improvements to question wording, instructions, and 
formatting to elicit more complete and correct responses and to make 
the survey more consistent with other BEA surveys.

II. Method of Collection

    Form BE-605 is a quarterly report that must be filed within 30 days 
after the end of each quarter (45 days after the final quarter of the 
respondent's fiscal year) by every U.S. business enterprise that is 
owned 10 percent or more by a foreign investor and that has total 
assets, sales or gross operating revenues, or net income (positive or 
negative) of over $60 million.
    As an alternative to filing paper forms, BEA offers its electronic 
filing option, the eFile system, for use in reporting on Form BE-605. 
For more information about eFile, go to www.bea.gov/efile.
    Potential respondents are those U.S. business enterprises that were 
required to report on the BE-12, Benchmark

[[Page 65375]]

Survey of Foreign Direct Investment in the United States--2012, along 
with those U.S. business enterprises that subsequently entered the 
direct investment universe. The data collected are sample data covering 
transactions and positions between foreign-owned U.S. business 
enterprises and their affiliated foreign groups. Universe estimates are 
developed from the reported sample data.

III. Data

    OMB Control Number: 0608-0009.
    Form Number: BE-605.
    Type of Review: Regular submission.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 16,000 annually.
    Estimated Time per Response: One hour is the average, but may vary 
considerably among respondents because of differences in company size 
and complexity.
    Estimated Total Annual Burden Hours: 16,000.
    Estimated Total Annual Cost to Public: $0.
    Respondent's Obligation: Mandatory.
    Legal Authority: International Investment and Trade in Services 
Survey Act (Pub. L. 94-472, 22 U.S.C. 3101-3108, as amended).

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

    Dated: October 29, 2014.
Glenna Mickelson,
Management Analyst, Office of Chief Information Officer.
[FR Doc. 2014-26108 Filed 11-3-14; 8:45 am]
BILLING CODE 3510-06-P