[Federal Register Volume 81, Number 64 (Monday, April 4, 2016)]
[Notices]
[Page 19132]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-07469]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

[Docket No. 160304198-6198-01]
XRIN 0691-XC046


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 survey 
is authorized by the International Investment and Trade in Services 
Survey Act.

SUPPLEMENTARY INFORMATION: This Notice constitutes legal notification 
to all U.S. persons (defined below) who meet the reporting requirements 
set forth in this Notice that they must respond to, and comply with, 
the BE-45. Reports are due 60 days after the end of each calendar 
quarter, or 90 days after the close of the calendar year. 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 rulemaking. Additional information about BEA's collection of 
data on international trade in services and direct investment can be 
found in the 2012 rule, the International Investment and Trade in 
Services Survey Act (22 U.S.C. 3101 et seq.), and 15 CFR part 801. 
Survey data on international trade in services and direct investment 
that are not collected pursuant to the 2012 rule are described 
separately in 15 CFR part 801. The BE-45 survey form and instructions 
are available on the BEA Web site at www.bea.gov/ssb.

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 U.S. Government, a 
State or local government, and any agency, corporation, financial 
institution, or other entity or instrumentality thereof, including a 
government-sponsored agency).
    (b) U.S. person means any person resident in the United States or 
subject to the jurisdiction of the United States.
    (c) United States, when used in a geographic sense, means the 50 
States, the District of Columbia, the Commonwealth of Puerto Rico, and 
all territories and possessions of the United States.
    (d) Foreign person means any person resident outside the United 
States or subject to the jurisdiction of a country other than the 
United States.

Reporting

    Notice of specific reporting requirements, including who is to 
report, the information to be reported, the manner of reporting, and 
the time and place of filing reports, will be mailed to those required 
to complete this survey.
    Who Must Report: (a) Reports are required from U.S. persons whose 
covered transactions exceeded $8 million (positive or negative) during 
the prior calendar year, or are expected to exceed that amount during 
the current calendar year.
    (b) Entities required to report will be contacted individually by 
BEA. Entities not contacted by BEA have no reporting responsibilities.
    What To Report: The survey collects information on cross-border 
insurance transactions between U.S. insurance companies and foreign 
persons.
    How To Report: Reports can be filed using BEA's electronic 
reporting system at www.bea.gov/efile. Copies of the survey forms and 
instructions, which contain complete information on reporting 
procedures and definitions, can be downloaded from the BEA Web site 
given above. Form BE-45 inquiries can be made by phone to BEA at (202) 
606-5588 or by sending an email to [email protected].
    When To Report: Reports are due to BEA 60 days after the end of 
each calendar quarter, or 90 days after the close of the calendar year.

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. 
Public reporting burden for this collection of information is estimated 
to average 8 hours per response. Additional information regarding this 
burden estimate may be viewed at www.reginfo.gov; under the Information 
Collection Review tab, click on ``Search'' and use the above OMB 
control number to search for the current survey instrument. 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.

Brian C. Moyer,
Director, Bureau of Economic Analysis.
[FR Doc. 2016-07469 Filed 4-1-16; 8:45 am]
 BILLING CODE 3510-06-P