[Federal Register Volume 89, Number 12 (Thursday, January 18, 2024)]
[Notices]
[Pages 3375-3376]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-00862]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

[Docket No. 240111-0010]
RIN 0691-XC148


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). The data 
collected on the BE-45 survey are needed to measure U.S. trade in 
insurance services and to analyze the impact of U.S. trade on the U.S. 
and foreign economies. This survey is authorized by the International 
Investment and Trade in Services Survey Act.

FOR FURTHER INFORMATION CONTACT: Christopher Stein, Chief, Services 
Surveys Branch, Balance of Payments Division, via phone at (301) 278-
9189 or via email at [email protected].

SUPPLEMENTARY INFORMATION: Through this Notice, BEA publishes the 
reporting requirements for the BE-45 survey form. As noted below, all 
U.S. persons required to respond to this mandatory survey will be 
contacted by BEA. U.S. persons must submit the completed survey forms 
within 30 days after the end of each calendar quarter, except for the 
final quarter of the calendar year when reports must be filed within 45 
days. This Notice is being issued in conformance with the rule BEA 
issued on April 24, 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

[[Page 3376]]

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 at www.bea.gov/ssb.

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 
combined reportable insurance transactions with foreign persons 
exceeded $8 million (based on absolute value) during the previous 
calendar year, or are expected to exceed that amount during the current 
calendar year. See BE-45 survey form for more details.
    (b) U.S. persons required to report will be contacted individually 
by BEA. U.S. persons 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 www.bea.gov/ssb and 
submitted through mail or fax. Form BE-45 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 30 days after the end of 
each calendar quarter, except for the final quarter of the calendar 
year when reports must be filed within 45 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 0608-0066. 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 9 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 Christopher Stein, Chief, 
Services Surveys Branch, Balance of Payments Division, via email at 
[email protected]; and to the Office of Management and Budget, 
Paperwork Reduction Project 0608-0066, via email at 
[email protected].
    Authority: 22 U.S.C. 3101-3108.

Paul W. Farello,
Associate Director for International Economics, Bureau of Economic 
Analysis.
[FR Doc. 2024-00862 Filed 1-17-24; 8:45 am]
BILLING CODE 3510-06-P