[Federal Register Volume 87, Number 114 (Tuesday, June 14, 2022)]
[Notices]
[Pages 35966-35967]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-12819]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Agency Information Collection Activities; Submission to the 
Office of Management and Budget (OMB) for Review and Approval; Comment 
Request; Direct Investment Surveys: BE-577, Quarterly Survey of U.S. 
Direct Investment Abroad--Transactions of U.S. Reporter With Foreign 
Affiliate

AGENCY: Bureau of Economic Analysis, Department of Commerce.

ACTION: Notice of information collection, request for comment.

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SUMMARY: The Department of Commerce, in accordance with the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to comment on proposed, and continuing information 
collections, which helps us assess the impact of our information 
collection requirements and minimize the public's reporting burden. The 
purpose of this notice is to allow for 60 days of public comment 
preceding submission of the collection to OMB.

DATES: To ensure consideration, comments regarding this proposed 
information collection must be received on or before August 15, 2022.

ADDRESSES: Interested persons are invited to submit written comments to 
Ricardo Limes, Chief, Direct Transactions and Positions Branch, Bureau 
of Economic Analysis, U.S. Department of Commerce, by email to 
[email protected] or [email protected]. Please reference OMB 
Control Number 0608-0004 in the subject line of your comments. Do not 
submit Confidential Business Information or otherwise sensitive or 
protected information.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
specific questions related to collection activities should be directed 
to Ricardo Limes, Chief, Multinational Operations Branch, Bureau of 
Economic Analysis, U.S. Department of Commerce; via phone at (301) 278-
9659; or via email at [email protected].

SUPPLEMENTARY INFORMATION: 

I. Abstract

    The Quarterly Survey of U.S. Direct Investment Abroad--Transactions 
of U.S. Reporter with Foreign Affiliate (Form BE-577) obtains quarterly 
data on transactions and positions between U.S.-owned foreign business 
enterprises and their U.S. parents, except certain private funds. 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 
conducted every five years. The data are essential for the preparation 
of the U.S. international transactions accounts, the national income 
and product accounts, the input-output accounts, and the international 
investment position of the United States. 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 Bureau of Economic Analysis (BEA) is not 
proposing any changes to the BE-577 survey.

II. Method of Collection

    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 potential 
respondents each quarter. Reports are due 30 days after the close of 
each calendar or fiscal quarter--45 days if the report is for the final 
quarter of the respondent's financial reporting year. Reports are 
required from each U.S. person that has a direct and/or indirect 
ownership interest of at least 10 percent of the voting stock in an 
incorporated foreign business enterprise, or an equivalent interest in 
an unincorporated foreign business enterprise, and that meets the 
additional conditions detailed in Form BE-577. Certain private funds 
are exempt from reporting. Entities required to report will be 
contacted individually by BEA. Entities not contacted by BEA have no 
reporting responsibilities.
    Potential respondents are those U.S. business enterprises that 
reported owning foreign business enterprises in the 2019 benchmark 
survey of U.S. direct investment abroad, along with entities that 
subsequently entered the direct investment universe. The data collected 
are sample data. Universe estimates are developed from the reported 
sample data.
    BEA offers electronic filing through its eFile system (www.bea.gov/efile) for use in reporting on the BE-577 survey forms. In addition, 
BEA posts its survey forms and reporting instructions on its website 
(www.bea.gov/dia).

III. Data

    OMB Control Number: 0608-0004.
    Form Number: BE-577.

[[Page 35967]]

    Type of Review: Regular submission, reinstatement without change.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 3,500 U.S. parents filing for 
22,700 foreign affiliates per quarter, 90,800 annually.
    Estimated Time per Response: 1 hour is the average but may vary 
considerably among respondents because of differences in company 
structure and complexity.
    Estimated Total Annual Burden Hours: 90,800.
    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 by Pub. L. 
98-573 and Pub. L. 101-533).

IV. Request for Comments

    We are soliciting public comments to permit the Department/Bureau 
to: (a) Evaluate whether the proposed information collection is 
necessary for the proper functions of the Department, including whether 
the information will have practical utility; (b) Evaluate the accuracy 
of our estimate of the time and cost burden for this proposed 
collection, including the validity of the methodology and assumptions 
used; (c) Evaluate ways to enhance the quality, utility, and clarity of 
the information to be collected; and (d) Minimize the reporting burden 
on those who are to respond, including the use of automated collection 
techniques or other forms of information technology.
    Comments that you submit in response to this notice are a matter of 
public record. We will include or summarize each comment in our request 
to OMB to approve this ICR. Before including your address, phone 
number, email address, or other personal identifying information in 
your comment, you should be aware that your entire comment--including 
your personal identifying information--may be made publicly available 
at any time. While you may ask us in your comment to withhold your 
personal identifying information from public review, we cannot 
guarantee that we will be able to do so.

Sheleen Dumas,
Department PRA Clearance Officer, Office of the Chief Information 
Officer, Commerce Department.
[FR Doc. 2022-12819 Filed 6-13-22; 8:45 am]
BILLING CODE 3510-06-P