[Federal Register Volume 88, Number 215 (Wednesday, November 8, 2023)]
[Notices]
[Pages 77077-77078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-24618]


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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-605, Quarterly Survey of Foreign 
Direct Investment in the United States--Transactions of U.S. Affiliate 
With Foreign Parent

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: Written comments must be submitted on or before January 8, 2024.

ADDRESSES: Interested persons are invited to submit written comments to 
Jessica Hanson, Chief, Direct Investment Division, Bureau of Economic 
Analysis, U.S. Department of Commerce, by email to 
[email protected] and [email protected]. Please reference OMB 
Control Number 0608-0009 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 Jessica Hanson, Chief, Direct Investment Division, Bureau of 
Economic Analysis, U.S. Department of Commerce; via phone at (301) 278-
9595; 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 (Form BE-
605) obtains quarterly 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 survey is a sample survey that covers all U.S. 
affiliates

[[Page 77078]]

above a size-exemption level. The sample data are used to derive 
universe estimates of direct investment transactions, positions, and 
income 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 collected through the BE-
605 survey are essential for 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) is not proposing any changes to the BE-605 
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, or 45 days if the report is for the 
final quarter of the respondent's financial reporting year. Reports are 
required from every U.S. business enterprise in which a foreign entity 
owns, directly and/or indirectly, 10 percent or more of the voting 
securities of the U.S. business enterprise if it is incorporated, or an 
equivalent interest if it is unincorporated, at any time during the 
quarter, and that meets the additional conditions detailed in Form BE-
605. 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 include those U.S. business enterprises that 
were required to report on the BE-12, Benchmark Survey of Foreign 
Direct Investment in the United States--2017, along with those U.S. 
business enterprises that subsequently have become at least partly 
foreign owned. BEA offers electronic filing through its eFile system 
(www.bea.gov/efile) for use in reporting on the BE-605 survey forms. In 
addition, BEA posts its survey forms and reporting instructions on its 
website (www.bea.gov/fdi).

III. Data

    OMB Control Number: 0608-0009.
    Form Number: BE-605.
    Type of Review: Regular submission, reinstatement without change.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 6,500 per quarter, 26,000 
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: 26,000.
    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 by Pub. L. 
98-573 and Pub. L. 101-533).

IV. Request for Comments

    We are soliciting public comments to permit the Bureau of Economic 
Analysis 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 Under Secretary for 
Economic Affairs, Commerce Department.
[FR Doc. 2023-24618 Filed 11-7-23; 8:45 am]
BILLING CODE 3510-06-P