[Federal Register Volume 82, Number 30 (Wednesday, February 15, 2017)]
[Notices]
[Pages 10739-10740]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-03058]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

[Docket No. 170112071-7096-01]
RIN 0691-XC064


BE-185: Quarterly Survey of Financial Services Transactions 
Between U.S. Financial Services Providers and 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 Financial Services 
Transactions between U.S. Financial Services Providers and Foreign 
Persons (BE-185). This survey is authorized by the International 
Investment and Trade in Services Survey Act and by Section

[[Page 10740]]

5408 of the Omnibus Trade and Competitiveness Act of 1988.

SUPPLEMENTARY INFORMATION: The purpose of this Notice is to notify all 
U.S. persons who meet the reporting requirements set forth in this 
Notice that they must respond to, and comply with, the BE-185. Reports 
are due 45 days after the end of each 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 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, and by Section 5408 of the Omnibus 
Trade and Competitiveness Act of 1988 (Pub. L. 100-418, 15 U.S.C. 
4908(b). 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-185 survey form and 
instructions are available on the BEA Web site at www.bea.gov/ssb.

Reporting

    Who Must Report: (a) Reports are required from each U.S. person who 
had sales of covered financial services to foreign persons that 
exceeded $20 million during the previous fiscal year, or are expected 
to exceed that amount during the current fiscal year; or had purchases 
of covered financial services from foreign persons that exceeded $15 
million during the previous fiscal year, or are expected to exceed that 
amount during the current fiscal year. Because the thresholds are 
applied separately to sales and purchases, the reporting requirements 
may apply only to sales, only to purchases, or to both.
    (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 transactions in 
the covered financial services between U.S. financial services 
providers 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-185 inquiries can be made by phone to BEA at (301) 
278-9303 or by sending an email to [email protected].
    When To Report: Reports are due to BEA 45 days after the end of 
each 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 0608-0065. 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 10 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, 4600 Silver Hill Rd., 
Washington, DC 20233; and to the Office of Management and Budget, 
Paperwork Reduction Project 0608-0065, 725 17th Street NW., Washington, 
DC 20503.

    Authority:  22 U.S.C. 3101-3108 and 15 U.S.C. 4908(b).

Brian C. Moyer,
Director, Bureau of Economic Analysis.
[FR Doc. 2017-03058 Filed 2-14-17; 8:45 am]
 BILLING CODE 3510-06-P