Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form BE-125 Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons	Form and Instruction	New	Available
Form BE-125 Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons	Form and Instruction	Modified	Repair queued
BE-125SUPPORTINGSTB.doc	Supporting Statement B	Uploaded 2006-10-04	Available
BE125supportstA.doc	Supporting Statement A	Uploaded 2006-10-04	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
45503	Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons	Form and Instruction	New
43563	Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons	Form and Instruction	Modified

ICR Details

OMB Control No: 0608-0067	ICR Reference No: 200702-0608-002
Status: Historical Active	Previous ICR Reference No: 200606-0608-003
Agency/Subagency: DOC/EASA	Agency Tracking No: 200707-0608-125
Title: Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/09/2007
	Date Received in OIRA: 02/09/2007
Terms of Clearance: The Bureau of Economic Analysis will request a no material/nonsubstantive change to a currently approved collection through ROCIS as soon as it modifies and finalizes the complete set of IC forms/documents for the Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons and before they are used to collect information from the public. The documents preapproved for this ICR are those with the latest date for each individual document type.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2010	36 Months From Approved	08/31/2007
Responses	4,000	0	2,200
Time Burden (Hours)	64,000	0	35,200
Cost Burden (Dollars)	0	0	0

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Abstract: This survey will obtain quarterly sample data on transactions between U.S. and foreign persons in intangible assets and services transactions. The data are needed, among other purposes, to support U.S. trade policy initiatives, including trade negotiations, and to compile the U.S. international transactions and the national income and product accounts.

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Authorizing Statute(s): PL: Pub.L. 94 - 472 3101-3108 Name of Law: International Investment and Trade in Services Survey Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
0691-AA61	Final or interim final rulemaking	72 FR 5169	02/05/2007

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons	BE-125	Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons	BE-125	Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	4,000	2,200	0	1,800	0	0
Annual Time Burden (Hours)	64,000	35,200	0	28,800	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is a result of several factors – more U.S. persons with transactions in international services, the inclusions of services previously collected on the annual BE-22 survey (which will be discontinued), and the inclusion of transactions with affiliated foreign persons. From the perspective of the overall burden associated with BEA surveys, it should be noted that reductions in the burden can be expected to result from the consolidation of reporting of affiliated and unaffiliated services transactions on a single survey. Respondents will have a single set of instructions, and they will need to pass through their internal accounting records only once, to complete the new survey, instead of receiving as many as four separate surveys, each requiring a separate pass through the instructions and the respondents’ internal accounting records.

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Annual Cost to Federal Government: $535,000

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 11/21/2006

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