BE-15(EZ) Form BE-15(EZ)

Annual Survey of Foreign Direct Investment in the United States

be15ez

Annual Survey of Foreign Direct Investment in the United States

OMB: 0608-0034

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FORM

BE-15(EZ)

(REV. 2/2009)

OMB No. 0608-0034: Approval Expires xx/xx/xxxx

BEA Identification Number

MANDATORY — CONFIDENTIAL

2008 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT
IN THE UNITED STATES
FORM BE-15(EZ)
Name and address of U.S. business enterprise – If a label has been
affixed, make any changes directly on the label. If a label has not been
affixed, enter the BEA Identification Number of this U.S. affiliate, if
available, in the box at the upper right hand corner of this page.

DUE DATE: MAY 31, 2009
MAIL
REPORTS
TO:

U.S. Department of Commerce
Bureau of Economic Analysis
BE-49(A)
Washington, DC 20230

1002 Name of U.S. affiliate
0
1010 c/o (care of)
0

OR
DELIVER
REPORTS
TO:

U.S. Department of Commerce
Bureau of Economic Analysis, BE-49(A)
Shipping and Receiving Section, M100
1441 L Street, NW
Washington, DC 20005
OR

Foreign Postal Code

ASSISTANCE**
Email:
Telephone:
Copies of blank forms:
Definitions of key terms:

OR
FAX REPORTS TO:

0998 State
0

1004 City
0
1005 ZIP Code
0

www.bea.gov/efile

ELECTRONIC FILING:

1003 Street or P.O. Box
0

(202) 606-1905*

*See the NOTE at the bottom of this page if you plan to
fax your report to BEA.

be12/[email protected]
(202) 606-5577
www.bea.gov/fdi
See pages 7 and 8.

**Please include your BEA Identification Number with all requests.
Who must file BE-15(EZ) – Form BE-15(EZ) must be filed for a U.S. affiliate with total assets, sales or gross operating revenues,
or net income greater than $40 million (positive or negative) but not greater than $120 million (positive or negative) if:
(a) the affiliate has NOT filed a BE-12 or BE-15 for a fiscal year that ended BEFORE January 1, 2008; OR
(b) the affiliate has been instructed in writing by BEA to file a BE-15(EZ) for the fiscal year that ended in calendar year 2008.
If you do not meet these filing criteria, see instruction I.A.1 starting on page 7 to determine which form to file.
MANDATORY
CONFIDENTIALITY
PENALTIES

➔

This survey is being conducted under the International Investment and Trade in Services
Survey Act (P.L. 94-472, 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended). The filing of
reports is mandatory and the Act provides that your report to this Bureau is confidential.
Whoever fails to report may be subject to penalties. See page 7 for more details.

PERSON TO CONSULT CONCERNING QUESTIONS
ABOUT THIS REPORT — Enter name and address
CERTIFICATION — The undersigned official certifies that
this report has been prepared in accordance with the
applicable instructions, is complete, and is substantially
accurate except that, in accordance with instruction III.B.
on page 8, estimates may have been provided.

1000 Name
0
1029 Address
0
1030 0

1031 0

Date

Authorized official’s signature

1001 Telephone number
0

Area code

Number

0999 FAX number
0

Area code

Number

Extension

0990 Print or type name
0

0991 Print or type title
0

0992 Telephone number
0

0993 FAX number
0

May FAX and/or email be used in correspondence between your enterprise and BEA, including FAX’ed reports, and/or to
discuss questions relating to this survey that may contain confidential information about your company?
NOTE: The internet and telephone systems are not secure means of transmitting confidential information unless it is encrypted.
If you choose to communicate with BEA via FAX or electronic mail, BEA cannot guarantee the security of the information during
transmission, but will treat information we receive as confidential in accordance with Section 5(c) of the International
Investment and Trade in Services Survey Act.
1027

Email: 1 1
1
2

Yes (If yes, please print your email address.)
No

Email address (Please print)
0
1028

1032

FAX:

1
1
2

Yes
No

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BE-15(EZ), Page 1, Pantone 336 Green, 10%

PART I – IDENTIFICATION OF U.S. AFFILIATE
IMPORTANT
Please review the Instructions starting on page 7 before completing this form. Insurance and real estate
companies see Special Instructions on page 11.
• Accounting principles – If feasible use U.S. Generally Accepted Accounting Principles to complete
Form BE-15 unless you are requested to do otherwise by a specific instruction. References in the
instructions to Financial Accounting Standards Board Statements are referred to as "FAS."
• U.S. affiliate’s 2008 fiscal year – The affiliate’s financial reporting year that had an ending date in
calendar year 2008.
• Consolidated reporting – A U.S. affiliate must file on a fully consolidated domestic U.S. basis, including
in the consolidation ALL U.S. affiliates in which it directly or indirectly owns more than 50 percent of the
outstanding voting interest. The consolidation rules are found in instruction IV.2. starting on page 8.
• Rounding – Report currency amounts in U.S. dollars rounded to thousands (omitting 000).
Do not enter amounts in the shaded portions of each line.
Example – If amount is $1,334,891.00 report as:

Bil.

Mil.

Thous. Dols.

000

1. Which financial reporting standards will be used to complete this BE-15 report?
NOTE: Unless it is highly burdensome or not feasible, the BE-15 report should be completed using U.S.
Generally Accepted Accounting Principles (U.S. GAAP).
1399 1
1

U.S. Generally Accepted Accounting Principles

International Financial Reporting Standards or other reporting standards, but with adjustments to
correct for any material differences between U.S. GAAP and the reporting standards used. Specify
the reporting standards used.

International Financial Reporting Standards or other reporting standards, but without adjustments
to correct for any material differences between U.S. GAAP and the reporting standards used.
Specify the reporting standards used.

2. Consolidated reporting by the U.S. affiliate – Is more than 50 percent of the voting interest in this U.S. affiliate owned by
another U.S. affiliate of your foreign parent (see the diagram below for assistance in answering this question)?
1400 1

Yes

If "Yes" – Do not complete this report unless exception 2c described in the consolidation rules
starting on page 8 applies. If this exception does not apply, please forward this BE-15 survey packet
to the U.S. business enterprise owning your company more than 50 percent, and notify BEA of the
action taken by filing BE-15 Claim for Exemption with item 2(d) completed on page 3 of that form.
The BE-15 Claim for Exemption can be downloaded from BEA’s web site at: www.bea.gov/fdi

If "No" – Complete this report in accordance with the consolidation rules on pages 8 and 9.
CONSOLIDATION OF U.S. AFFILIATES
NOTE – Arrows connecting
boxes represent direction
of ownership

Foreign Parent

Foreign

10 to 100 percent

United States
U.S. affiliate A
>50 percent

U.S. affiliate B should be consolidated on the
BE-15 report for U.S. affiliate A because U.S.
affiliate B is more than 50 percent owned by
U.S. affiliate A.

U.S. affiliate B

FORM BE-15(EZ) (REV. 2/2009)

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PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
3. Enter Employer Identification Number(s) used by the U.S. affiliate to file income and payroll taxes.
Primary
1006 1

Other
2

–

4. REPORTING PERIOD – Reporting period instructions are found in instruction 4 on page 9. If there was
a change in fiscal year, please review instruction 4.b. on page 9.
Month

This U.S. affiliate’s financial reporting year ended in calendar year 2008 on

Day

Year

1007

_ _/ _ _ /2
__
0 _0 8_

Example – If the financial reporting year ended on March 31, report for the 12-month period ended March 31, 2008.
NOTE – Affiliates with a fiscal year that ended within the first week of January 2009 are considered to have a 2008
fiscal year and should report December 31, 2008 as their 2008 fiscal year end.
5. Did the U.S. business enterprise become a U.S. affiliate during its fiscal year that ended in calendar year 2008?
1008 1

Yes

If "Yes" – Enter date U.S. business enterprise became a U.S. affiliate and see
instruction 5 on page 9 to determine how to report for the first time.
Month

Day

Year

1009

_ _/ _ _ /_ _ _ _

NOTE – For a U.S. business enterprise that became a U.S. affiliate during its fiscal year that ended in
calendar year 2008, leave the close FY 2007 data columns blank.
Ownership — Enter percent of ownership, in this U.S. affiliate, to a tenth of one percent, based on voting interest (or
an equivalent interest if an unincorporated affiliate). "Voting interest" is defined in instruction 6a on page 9.
Foreign parent — A foreign parent is the FIRST person or entity outside the U.S. in a chain of ownership that has a 10 percent
or more voting interest (direct or indirect) in this U.S. affiliate. The country of foreign parent is the country of incorporation or
organization if the parent is a business enterprise, or of residence if the parent is an individual. For individuals, see instruction
6b on page 10.
Voting interest

Country of
foreign parent

Name of each direct owner

Close FY 2007
(2)

Close FY 2008
(1)

BEA
USE
ONLY

Ownership held directly by foreign parent(s) of this affiliate—see example 1 below.
Enter name and country of each foreign parent with direct ownership—if more than 2, continue on separate sheet.
1

1017

1018

_ _ _._

%
%

_ _ _._

%
%

3
3

Ownership held indirectly by foreign parents of this U.S. affiliate through another U.S. affiliate — see example 2 below. Enter name
of each U.S. affiliate that owns this affiliate and the country of the foreign parent — if more than 2, continue on separate sheet.
1

1063

1064

_ _ _._
1
_ _ _._

%
%

10. Direct ownership held by all other persons (do not list names)

1061

TOTAL of directly held ownership interests — Sum of items 6 through 10.

_ _ _._

_ _ _._
2
_ _ _._

%
%

2
%

100.0%

_ _ _._

3
3
3

100.0%

EXAMPLES OF DIRECT AND INDIRECT FOREIGN OWNERSHIP

Example 2 – Ownership held indirectly by a foreign parent
through another U.S. affiliate

Example 1 – Ownership held directly by a foreign parent
Foreign company X
Foreign company Y is the foreign
parent because it is the first owner
located outside the U.S. in a chain
of ownership that owns 10 percent
or more of the U.S. affiliate.

Foreign company Y
(Foreign Parent)

Foreign Parent
10 to 100 percent
Foreign
United States
U.S. affiliate A

10 to 100 percent
Foreign

U.S. affiliate B is indirectly owned by
the foreign parent through U.S.
affiliate A. U.S. affiliate A has a direct
ownership interest in U.S. affiliate B.

United States
U.S. affiliate

U.S. affiliate B

NOTE: Arrows connecting boxes represent direction of ownership
FORM BE-15(EZ) (REV. 2/2009)

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PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
11.

Enter the name and industry code of the foreign parent. If there is more than one foreign parent, list each and its
industry code on a separate sheet.

11a. Enter name of foreign parent. If the foreign parent is an individual enter "individual."
3011

11b. Enter the foreign parent industry code from the list of codes below that best describes the PRIMARY activity of the
SINGLE entity named as the foreign parent. DO NOT base the code on the world-wide sales of all consolidated
subsidiaries of the foreign parent. If the foreign parent is an individual, enter code "05."
3018

12.

For each foreign parent, furnish the name, country and industry code of the ultimate beneficial owner (UBO) – see
UBO definition and examples on page 5. If there is more than one foreign parent, list each on a separate sheet and
give the name of its UBO, and the UBO’s country and industry codes.

12a. Is the foreign parent also the UBO? If the foreign parent is owned our controlled more than 50 percent by another
person or entity, then the foreign parent is NOT the UBO.
3019 1

Yes (as shown in example 1 on page 5) –
Skip to 12d.

No (as shown in examples 2A and 2B on page 5) –
Continue with 12b.

12b. Enter the name of the UBO of the foreign parent. If the UBO is an individual enter "individual."
Identifying the UBO as "bearer shares" is not an acceptable response.
3021

12c. Enter country of the UBO. For individuals, see instruction 6b on page 10.

BEA USE ONLY
3022 1

12d. Enter the industry code of the UBO from the list of codes below. NOTE – Select the industry code that best reflects the
consolidated world-wide sales of all majority-owned subsidiaries. If the UBO is an individual, enter code "05."
3023

DO NOT use code "14" unless you receive permission from BEA.
PLEASE CONTINUE WITH QUESTION 13 ON PAGE 6

FOREIGN PARENT AND UBO INDUSTRY CODES
Note: "ISI codes" are International Surveys Industry codes, as given in the Guide to Industry Classifications for International Surveys, 2007.
01 Government and government-owned or -sponsored enterprise, or
quasi-government organization or agency
02 Pension fund — Government run

16 Real estate (ISI code 5310)
17 Information (ISI codes 5111–5191)
18 Professional, scientific, and technical services (ISI codes 5411–5419)

03 Pension fund — Privately run

19 Other services (ISI codes 1150, 2132, 2133, 5321, 5329, and 5611–8130)

04 Estate, trust, or nonprofit organization (that part of ISI
code 5252 that is estates and trusts)

Manufacturing, including fabricating, assembling, and
processing of goods:

05 Individual

20 Food (ISI codes 3111–3119)

Private business enterprise, investment organization,
or group engaged in:

21 Beverages and tobacco products (ISI codes 3121 and 3122)

06 Insurance (ISI codes 5242, 5243, 5249)

22 Pharmaceuticals and medicine (ISI code 3254)

07 Agriculture, forestry, fishing and hunting (ISI codes 1110–1140)

23 Other chemicals (ISI codes 3251–3259, except 3254)

08 Mining (ISI codes 2111–2127)

24 Nonmetallic mineral products (ISI codes 3271–3279)
25 Primary and fabricated metal products (ISI codes 3311–3329)

09 Construction (ISI codes 2360–2380)

26 Computer and electronic products (ISI codes 3341–3346)

10 Transportation and warehousing (ISI codes 4810–4939)

27 Machinery manufacturing (ISI codes 3331–3339)

11 Utilities (ISI codes 2211–2213)

28 Electrical equipment, appliances and components (ISI codes 3351–3359)

12 Wholesale and retail trade (ISI codes 4231–4251 and 4410–4540)

29 Motor vehicles and parts (ISI codes 3361–3363)
13 Banking, including bank holding companies (ISI codes 5221 and 5229)
14 Holding companies, excluding bank holding
companies (ISI codes 5512 and 5513)

31 Other manufacturing (ISI codes 3130–3231, 3261, 3262, 3370–3399)
32 Petroleum manufacturing, including integrated petroleum and petroleum
refining without extraction (ISI codes 3242–3244)

15 Other finance (ISI codes 5223, 5224, 5231, 5238, that part of ISI
code 5252 that is not estates and trusts, and ISI code 5331)
FORM BE-15(EZ) (REV. 2/2009)

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30 Other transportation equipment (ISI codes 3364–3369)

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PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
EXAMPLES OF THE ULTIMATE BENEFICIAL OWNER (UBO)
NOTE: Arrows connecting boxes represent direction of ownership

Example 1 – The UBO and Foreign Parent are the same
Foreign Company X

The UBO and foreign parent are
the same if the foreign parent is
NOT more than 50 percent owned
or controlled by another person or
entity.

1 to 50%
Foreign Parent = UBO

Foreign
United States

U.S. affiliate
Examples 2A and 2B – The Foreign Parent is NOT the UBO
A. The UBO is a foreign person or entity

B. The UBO is a U.S. person or entity

Foreign Company X
(UBO)

Foreign Company Y is the foreign
parent of the U.S. affiliate; foreign
Company X is the UBO. The
foreign parent is not the UBO if
the foreign parent is more than 50
percent owned or controlled by
another person or entity.

Foreign Company Z is the foreign
parent of the U.S. affiliate. U.S.
Company C is the UBO.

>50 Percent

Foreign Company Z
(Foreign Parent)

Foreign Company Y
(Foreign Parent)

Foreign
United States

>50 Percent

Foreign
United States

U.S. affiliate

U.S. Company C
(UBO)

U.S. affiliate

DEFINITION OF THE ULTIMATE BENEFICIAL OWNER (UBO)
Ultimate beneficial owner is that person, proceeding up the ownership chain beginning with and including the
foreign parent, that is not more than 50 percent owned or controlled by another person. Note: Stockholders of a
closely or privately held corporation are normally considered to be an associated group and may be a UBO.
Remarks

FORM BE-15(EZ) (REV. 2/2009)

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PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE
13. What is (are) the major product(s) and/or service(s) of the fully consolidated U.S. affiliate? If a product, also
state what is done to it, i.e., whether it is mined, manufactured, sold at wholesale, transported, packaged, etc. (For example,
"manufacture widgets.")
1163

14.

For a full explanation of each code see the Guide to Industry Classifications for International
Surveys, 2007. A copy of this guide can be found on our web site at: www.bea.gov/naics2007
15.

ISI Code

Industry of this affiliate – Enter the 4-digit International Surveys Industry (ISI) code of the
industry with the largest sales or gross operating revenues.

1
1164

Amount
(1)

Total sales or gross operating revenues, excluding sales taxes
Report gross sales minus returns, allowances, and discounts; or gross operating revenues.
Exclude sales or consumption taxes levied directly on the consumer and excise taxes levied
directly on manufacturers, wholesalers, and retailers. Include revenues generated during the year
from the OPERATIONS of a discontinued business segment, but exclude gains or losses from
DISPOSALS of discontinued operations.
Holding Companies (ISI code 5512) should report total income on this line including income
(loss) from equity investments in unconsolidated U.S. affiliates and all foreign entities, certain gains
(losses), other income, plus sales and gross operating revenues, if any. Zero normally is NOT a
correct entry for this line.

Bil.

Mil.

Thous. Dols.

1
2149

000

BALANCE SHEET ITEMS
NOTE – Foreign operations in which you own an interest of 20 percent or more, including those in which you own a majority
interest, are to be unconsolidated. Include all unconsolidated foreign businesses in which you own a majority interest on the
equity basis.
Close FY 2008
(1)
Bil.

Mil.

Thous. Dols.

16.

Total assets

2109

000

17.

Total liabilities

2114

000

1 3

Please check box if total liabilities are zero.
Amount
(1)
Bil.

Mil.

Thous. Dols.

18.

Net income (loss) – After provision for U.S. Federal, state, and local income taxes.

2159

000
Number

19.

Number of employees at close of FY 2008 – Reporting employment (including how to report
when employment is subject to unusual variations) is discussed in instruction 19 on page 10.

2700

Amount
(1)
Bil.

20.

Total employee compensation for FY 2008 – Employee compensation is defined in
instruction 20 on page 10.

Mil.

Thous. Dols.

1
2253

000

21.

22.

Gross book value (at historical cost) of all land and other property, plant, and
equipment, at the close of the fiscal year that ended in calendar year 2008.
Expenditures for research and development (R&D) performed BY the U.S.
affiliate – R&D is defined in instruction 22 on page 10.

2799

$
1

2403

$
1

BEA USE ONLY
1299
1200 1

1201 1

1202 1

1203 1

FORM BE-15(EZ) (REV. 2/2009)

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000

2007 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES
BE-15(EZ) INSTRUCTIONS
NOTE: Instructions in section IV are cross referenced by number to the items located on pages 2 to 6 of this form.
Authority – This survey is being conducted pursuant to the
International Investment and Trade in Services Survey Act (P.L.
94-472., 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended,
hereinafter "the Act"), and the filing of reports is MANDATORY
pursuant to Section 5(b)(2) of the Act (22 U.S.C. 3104).
A response is required from persons subject to the reporting
requirements of the BE-15 survey, whether or not they are
contacted by BEA. Also, persons contacted by BEA concerning
their being subject to reporting, either by sending them a report
form or by written inquiry, must respond pursuant to section
806.4 of 15 CFR, Chapter VIII. This may be accomplished by
completing and submitting Form BE-15A, BE-15B, BE-15(EZ), or
the BE-15 Claim For Exemption, whichever is applicable, by
May 31, 2009.
PENALTIES – Whoever fails to report shall be subject to a civil
penalty of not less than $2,500, and not more than $25,000, and to
injunctive relief commanding such person to comply, or both.
These civil penalties are subject to inflationary adjustments. Those
adjustments are found in 15 CFR 6.4. Whoever willfully fails to
report shall be fined not more than $10,000 and, if an individual,
may be imprisoned for not more than one year, or both. Any
officer, director, employee, or agent of any corporation who
knowingly participates in such violations, upon conviction, may be
punished by a like fine, imprisonment or both (22 U.S.C. 3105).
Notwithstanding any other provision of the law, no person is
required to respond to, nor shall any person be subject to a
penalty for failure to comply with, a collection of information
subject to the requirements of the Paperwork Reduction Act,
unless that collection of information displays a currently valid
OMB Control Number. The control number for this survey is at the
top of page 1 of this form.
Respondent Burden – Public reporting burden for this BE-15(EZ)
form is estimated to vary from 1 to 3 hours per response, with an
average of 1.5 hours per response, including the time for
reviewing instructions, searching existing data sources, gathering
and maintaining the data needed, and completing and reviewing
the collection of information. Send comments regarding this
burden estimate or any other aspect of this collection of
information, including suggestions for reducing this burden, to
Director, Bureau of Economic Analysis (BE-1), U.S. Department of
Commerce, Washington, DC 20230; and to the Office of
Management and Budget, Paperwork Reduction Project 0608-0034,
Washington, DC 20503.
CONFIDENTIALITY – The Act provides that your report to this
Bureau is CONFIDENTIAL and may be used only for analytical or
statistical purposes. Without your prior written permission, the
information filed in your report CANNOT be presented in a manner
that allows it to be individually identified. Your report CANNOT be
used for purposes of taxation, investigation, or regulation. Copies
retained in your files are immune from legal process.
I. REPORTING REQUIREMENTS

Example: In the diagram below, foreign person A owns 100% of
the voting stock of U.S. affiliate B; U.S. affiliate B owns 50% of
the voting stock of U.S. affiliate C; and U.S. affiliate C owns 25%
of the voting stock of U.S. affiliate D. Therefore, U.S. affiliate B is
100% directly owned by foreign person A; U.S. affiliate C is 50%
indirectly owned by foreign person A; and U.S. affiliate D is
12.5% indirectly owned by foreign person A.
Calculation of Foreign Ownership
Foreign
U.S.

Foreign person A

↓

100%
U.S. affiliate B
100% directly owned
by foreign person A

↓

50%
U.S. affiliate C
100% x 50% = 50% indirectly
owned by foreign person A

↓

25%
U.S. affiliate D
100% x 50% x 25% = 12.5%
indirectly owned by foreign person A
NOTE: Arrows connecting boxes represent direction of ownership.

A report is required even though the foreign person’s voting
interest in the U.S. business enterprise may have been
established or acquired during the reporting period.
Beneficial, not record, ownership is the basis of the reporting
criteria. Voting securities, voting stock, and voting interest all
have the same general meaning and are used interchangeably
throughout these instructions and the report forms.
Airline and ship operators – U.S. stations, ticket offices, and
terminal and port facilities of foreign airlines and ship operators
that provide services ONLY to the foreign airlines’ and ship
operators’ own operation are not required to report. Reports are
required when such enterprises produce significant revenues from
services provided to unaffiliated persons.
1. Which form to file – Please review the questions below
and the flow chart on page 8 to determine if your U.S.
business is required to file Form BE-15B. Blank forms can
be found at: www.bea.gov/fdi
a. Were at least 10 percent of the voting rights in your
business directly or indirectly owned by a foreign
person or entity at the end of your fiscal year that
ended in calendar year 2008?

To determine which BE-15 report form to file, read the following
sections on this page and review the flow chart on page 8.
A. Who must report – A BE-15 report is required for each U.S.
affiliate, i.e., for each U.S. business enterprise in which a
foreign person or entity owned or controlled, directly or
indirectly, 10 percent or more of the voting securities if an
incorporated U.S. business enterprise, or an equivalent interest
if an unincorporated U.S. business enterprise, at the end of the
business enterprise’s fiscal year that ended in calendar year
2008.
Foreign ownership interest – All direct and indirect lines of
ownership held by a foreign person in a given U.S. business
enterprise must be summed to determine if the enterprise is a
U.S. affiliate of the foreign person for purposes of reporting.

FORM BE-15(EZ) (REV. 2/2009)

Indirect ownership interest in a U.S. business enterprise is
the product of the direct ownership percentage of the foreign
parent in the first U.S. business enterprise in the ownership chain
multiplied by that first enterprise’s direct ownership percentage in
the second U.S. business enterprise multiplied by each succeeding
direct ownership percentage of each other intervening U.S.
business enterprise in the ownership chain between the foreign
parent and the given U.S. business enterprise.

Page 7

Yes – Continue with question b. NOTE: Your business
is hereinafter referred to as a "U.S. affiliate."
No – You are not required to file Form BE-15A. File
Form BE-15 Claim for Exemption by May 31, 2009.
b. Were more than 50 percent of the voting rights in this U.S.
affiliate owned by another U.S. affiliate at the end of this
U.S. affiliate’s fiscal year that ended in calendar year 2008?
Yes – Continue with question c.
No – Skip to question d.

Which 2008 BE-15 Form to File?

I. REPORTING REQUIREMENTS – Continued
c. Do different foreign persons hold a direct and an
indirect ownership interest in this U.S. affiliate
(exception c to the consolidation rules)? (The
consolidation rules are found in instruction IV.2.
starting on page 9.)

At least 10 percent voting interest directly
and/or indirectly owned by a foreign person?
Yes

Yes – Continue with question d.
No – This U.S. affiliate must be consolidated on the
BE-15 report of the U.S. affiliate that owns it more
than 50 percent. File the BE-15 Claim for Exemption
with page 1 and item 2(d) on page 3 completed by
May 31, 2009, forward this survey packet to the U.S.
affiliate that owns this affiliate more than 50 percent,
and have them consolidate your data into their report.

More than 50 percent of the voting rights
owned by another U.S. affiliate at end of
the fiscal year ending in calendar year 2008?

File the BE-15 Claim
for Exemption

Yes

d. Did any one of the items – Total assets, Sales or
gross operating revenues, or Net income (loss) – for
the U.S. affiliate (not just the foreign parent’s share)
exceed $40 million at the end of, or for, its fiscal year
that ended in calendar year 2008?

Do different foreign persons hold a direct and
indirect ownership interest in the U.S. affiliate
(exception c to the consolidation rules found in
instruction IV.2. starting on page 9)?

Yes – Continue with question e.
Yes

No – You are not required to file a Form
BE-15(EZ). File Form BE-15 Claim for Exemption by
May 31, 2009.

This U.S. affiliate must be consolidated
on the BE-15 report of the U.S. affiliate
that owns it more than 50 percent. File
the BE-15 Claim for Exemption.

e. Did any one of the items – Total assets, Sales or
gross operating revenues, or Net income (loss) –
for the U.S. affiliate (not just the foreign parent’s
share) exceed $120 million at the end of, or for, its
fiscal year that ended in calendar year 2008?
Yes – Skip to question h.
No – Continue with question f.
f. Did you file either a BE-12 or a BE-15 for a fiscal
year that ended BEFORE January 1, 2008?

Assets, sales, or net income (loss)
greater than $40 million?

Yes – Continue with question g.
No – File Form BE-15(EZ) by May 31, 2009.

Yes

g. Did you receive a request in writing from BEA to
file Form BE-15(EZ) for the fiscal year that ended in
calendar year 2008?

File Form BE-15 Claim
for Exemption

Yes – File Form BE-15(EZ) by May 31, 2009.
Assets, sales, or net income (loss)
greater than $120 million?

No – You are not required to file a BE-15 for your
fiscal year that ended in calendar year 2008. However,
please inform BEA if your affiliate name, address, or
contract person has changed.
h. Was the U.S. affiliate majority-owned by its foreign
parent(s) at the end of its fiscal year that ended in
calendar year 2008? (A U.S. affiliate is "majorityowned" if the combined direct and indirect
ownership interests of all foreign parents of the U.S.
affiliate exceed 50 percent.)

Yes

Majority-Owned directly and/or
indirectly by foreign parents?
Yes

Did you file either a BE-12 or
a BE-15 for a fiscal year that
ended BEFORE
January 1, 2008?

No
Yes

Yes – Continue with question i.
Assets, sales, or
net income (loss)
greater than $275
million?

No – File Form BE-15B by May 31, 2009.
i. Did any one of the items – Total assets, Sales or
gross operating revenues, or Net income (loss) –
for the U.S. affiliate (not just the foreign parent’s
share) exceed $275 million at the end of, or for, its
fiscal year that ended in calendar year 2008?

Yes

File Form
BE-15B

Did you receive a
request in writing
from BEA to file
Form BE-15(EZ)?
Yes

File Form
BE-15(EZ)

Yes – File Form BE-15A by May 31, 2009.
File Form
BE-15A

No – File Form BE-15B by May 31, 2009.

FORM BE-15(EZ) (REV. 2/2009)

Page 8

File Form
BE-15B

File Form
BE-15(EZ)

You are not required to file
a BE-15 for your fiscal year
that ended in calendar
year 2008. However,
please inform BEA if your
affiliate name, address, or
contact person has
changed.

2. Minority-owned U.S. affiliate means a U.S. affiliate in which
the combined direct and indirect voting interest of all foreign
parents of the U.S. affiliate is 50 percent or less.

I. REPORTING REQUIREMENTS – Continued
2. Who must file Form BE-15(EZ) – 2008 Annual Survey of
Foreign Direct Investment in the United States?
Form BE-15(EZ) must be filed for a U.S. affiliate with total assets,
sales or gross operating revenues, or net income greater than
$40 million (positive or negative) but not greater than $120
million (positive or negative) if:
(a) the affiliate has NOT filed a BE-12 or BE-15 for a fiscal year
that ended BEFORE January 1, 2008; OR
(b) the affiliate has been instructed in writing by BEA to file a
BE-15(EZ) for the fiscal year that ended in calendar year 2008.
B. Aggregation of real estate investments – Aggregate all real estate
investments of a foreign person for the purpose of applying the
reporting criteria. Use a single report form to report the aggregate
holdings, unless BEA has granted permission to do otherwise. Those
holdings not aggregated must be reported separately. Real estate is
discussed more fully in instruction V.B. on page 11.
II. DEFINITIONS
A. United States, when used in a geographic sense, means the several
States, the District of Columbia, the Commonwealth of Puerto Rico,
and all territories and possessions of the United States.
B. Foreign, when used in a geographic sense, means that which is
situated outside the United States or which belongs to or is characteristic of a country other than the United States.
C. Person, means any individual, branch, partnership, association,
associated group, estate, trust, corporation, or other organization
(whether or not organized under the laws of any State), and any
government (including a foreign government, the U.S. Government,
a State or local government, and any agency, corporation, financial
institution, or other entity or instrumentality thereof, including a
government sponsored agency).
D. Associated group means two or more persons who, by the
appearance of their actions, by agreement, or by an understanding,
exercise their voting privileges in a concerted manner to influence
the management of a business enterprise. The following are
deemed to be associated groups:
1. Members of the same family.
2. A business enterprise and one or more of its officers or
directors.
3. Members of a syndicate or joint venture.
4. A corporation and its domestic subsidiaries.

M. Foreign parent group means (i) the foreign parent, (ii) any foreign
person, proceeding up the foreign parent’s ownership chain, which
owns more than 50 percent of the person below it up to and
including that person which is not owned more than 50 percent by
another foreign person, and (iii) any foreign person, proceeding
down the ownership chain(s) of each of these members, which is
owned more than 50 percent by the person above it.
N. U.S. corporation means a business enterprise incorporated in
the United States.
O. Intermediary means any agent, nominee, manager, custodian,
trust, or any person acting in a similar capacity.
III. GENERAL INSTRUCTIONS
A. Required information not available – Make all reasonable efforts
to obtain the information required for reporting. Answer every
question except where specifically exempt. Indicate when only
partial information is available.
B. Estimates – If actual figures are not available, please provide
estimates and label them as such. When items cannot be fully
subdivided as required, provide totals and an estimated breakdown
of the totals. Information necessary to complete some of the items
on Form BE-15(EZ) may not be available from a company’s
customary accounting records. Precise answers for these items may
present the respondent with a substantial burden beyond what is
intended by BEA. Therefore, the answers may be reasonable
estimates based upon the informed judgement of persons in the
responding organization, sampling techniques, prorations based on
related data, etc. However, the estimating procedures used should
be consistently applied on all BEA surveys.
C. Space on form insufficient – When space on a form is
insufficient to permit a full answer to any item, provide the
required information on supplementary sheets, appropriately
labeled and referenced to the item number on the form.
IV. INSTRUCTIONS FOR SPECIFIC
SECTIONS OF THE REPORT FORM

E. Foreign person means any person resident outside the United
States or subject to the jurisdiction of a country other than the
United States.
F. Direct investment means the ownership or control, directly or
indirectly, by one person of 10 percent or more of the voting
securities of an incorporated business enterprise or an equivalent
interest in an unincorporated business enterprise.
G. Foreign direct investment in the United States means the
ownership or control, directly or indirectly, by one foreign person of
10 percent or more of the voting securities of an incorporated U.S.
business enterprise or an equivalent interest in an unincorporated
U.S. business enterprise, including a branch.
H. Business enterprise means any organization, association, branch,
or venture which exists for profit making purposes or to otherwise
secure economic advantage, and any ownership of any real estate.
I. Branch means the operations or activities conducted by a person in
a different location in its own name rather than through an
incorporated entity.
J. Affiliate means a business enterprise located in one country which
is directly or indirectly owned or controlled by a person of another
country to the extent of 10 percent or more of its voting securities
for an incorporated business enterprise or an equivalent interest for
an unincorporated business enterprise, including a branch.
K. U.S. affiliate means an affiliate located in the United States in
which a foreign person has a direct investment.
1. Majority-owned U.S. affiliate means a U.S. affiliate in which
the combined direct and indirect voting interest of all foreign
parents of the U.S. affiliate exceeds 50 percent.

FORM BE-15(EZ) (REV. 2/2009)

L. Foreign parent means the foreign person, or the first person
outside the United States in a foreign chain of ownership, which
has direct investment in a U.S. business enterprise, including a
branch.

Page 9

NOTE: Instructions in section IV. are cross referenced by number to
the items located on pages 2 to 6 of this form.
PART I – IDENTIFICATION OF U.S. AFFILIATE
2. Consolidation Rules

Consolidated reporting by the U.S. affiliate – A U.S. affiliate
must file on a fully consolidated domestic U.S. basis, including in
the full consolidation all U.S. business enterprises in which it
directly or indirectly owns more than 50 percent of the outstanding
voting interest. The fully consolidated entity is considered one U.S.
affiliate.
A foreign person holding real estate investments that are reportable
on the BE-15 must aggregate all such holdings. See Instruction V.B.
on page 11 for details.
Do not prepare your BE-15 report using the proportionate
consolidation method. Except as noted in b. and c. on the next page,
consolidate all majority-owned U.S. affiliates into your BE-15 report.
Unless the exceptions discussed below apply, any deviation
from these consolidation rules must be approved in writing
each year by BEA. In accordance with FAS 94 (Consolidation of all
Majority-Owned Subsidiaries), consolidation of majority-owned
subsidiaries is required even if their operations are not
homogeneous with those of the U.S. affiliate that owns them. If you
file deconsolidated reports, you must file the same type of reports
that would have been required if a consolidated report was filed.
Report majority-owned subsidiaries, if not consolidated, on the
BE-15(EZ) using the equity method of accounting. DO NOT eliminate
intercompany accounts (e.g., receivables or liabilities) for affiliates
not consolidated.

5. Reporting for a U.S. business that became a U.S. affiliate
during fiscal year 2008 —

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
Exceptions to consolidated reporting – Note: If a U.S. affiliate is
not consolidated into its U.S. parent’s BE-15 report, then it must be
listed on the Supplement B of its parent’s BE-15 report (unless the
report is a BE-15(EZ) which does not have a Supplement B) and each
U.S. affiliate not consolidated must file its own Form BE-15.
a. DO NOT CONSOLIDATE FOREIGN SUBSIDIARIES,
BRANCHES, OPERATIONS, OR INVESTMENTS NO
MATTER WHAT THE PERCENTAGE OWNERSHIP. Include
foreign holdings owned 20 percent or more using either the
equity method of accounting or the fair value option per FAS
159 (The Fair Value Option for Financial Assets and Financial
Liabilities. DO NOT report employment, land, and other
property, plant, and equipment and DO NOT eliminate
intercompany accounts for holdings reported using the equity
method or the fair value option.
b. Special consolidation rules apply to U.S. affiliates that are
limited partnerships or that have an ownership interest in a
U.S. limited partnership. These rules can be found on our web
site at: www.bea.gov/ltdpartners15
c. A U.S. affiliate in which a direct ownership interest and an indirect
ownership interest are held by different foreign persons should
not be fully consolidated into another U.S. affiliate, but must
complete and file its own BE-15 report. (See diagram below.)
Foreign person B

Foreign person A

Foreign

U.S.

100%

U.S. affiliate X

30%

60%

U.S. affiliate Y

U.S. affiliate Y may not be fully consolidated into U.S.
affiliate X because of the 30 percent direct ownership by
foreign person B.

If this exception applies, reflect the indirect ownership interest,
even if more than 50 percent, on the owning U.S. affiliate’s BE-15
report on an equity basis. For example, using the situation shown
in the diagram above, U.S. affiliate X must treat its 60 percent
ownership interest in U.S. affiliate Y as an equity investment.
4. Reporting period – The report covers the U.S. affiliate’s 2008 fiscal
year. The affiliate’s 2008 fiscal year is defined as the affiliate’s financial
reporting year that had an ending date in calendar year 2008.
Special Circumstances:
a. U.S. affiliates without a financial reporting year – If a U.S.
affiliate does not have a financial reporting year, its fiscal year is
deemed to be the same as calendar year 2008.
b. Change in fiscal year
(1) New fiscal year ends in calendar year 2008 – A U.S.
affiliate that changed the ending date of its financial reporting
year should file a 2008 BE-15 report that covers the 12
month period prior to the new fiscal year end date. The
following example illustrates the reporting requirements.
Example 1: U.S. affiliate A had a June 30, 2007 fiscal year
end date but changed its 2008 fiscal year end date to
March 31. Affiliate A should file a 2008 BE-15 report covering
the 12 month period from April 1, 2007 to March 31, 2008.
(2) No fiscal year ending in calendar year 2008 – If a change
in fiscal year results in a U.S. affiliate not having a fiscal year
that ended in calendar year 2008, the affiliate should file a
2008 BE-15 report that covers 12 months. The following
example illustrates the reporting requirements.
Example 2: U.S. affiliate B had a December 31, 2007 fiscal
year end date but changed its next fiscal year end date to
March 31. Instead of having a short fiscal year ending in
2008, affiliate B decides to have a 15 month fiscal year
running from January 1, 2008 to March 31, 2009. Affiliate B
should file a 2008 BE-15 report covering a 12 month period
ending in calendar year 2008, such as the period from
April 1, 2007 to March 31, 2008.

FORM BE-15(EZ) (REV. 2/2009)

Page 10

a. A U.S. business enterprise that was newly established
in fiscal year 2008 should file a report for the period starting
with the establishment date up to and ending on the last day
of its fiscal year that ended in calendar year 2008. DO NOT
estimate amounts for a full year of operations if the first fiscal
year is less than 12 months.
b. A U.S. business enterprise existing before fiscal year
2008 that became a U.S. affiliate in fiscal year 2008
should file a report covering a full 12 months of operations.
6a. Voting interest and Equity interest
(1) Voting interest – is the percent of ownership in the voting
equity of the U.S. affiliate. Voting equity consists of
ownership interests that have a say in the management of the
company. Examples of voting equity include capital stock that
has voting rights, and a general partner’s interest in a
partnership.
(2) Equity interest – is the percent of ownership in the total
equity (voting and nonvoting) of the U.S. affiliate. Nonvoting
equity consists of ownership interests that do not have a say
in the management of the company. An example of
nonvoting equity is preferred stock that has no voting rights.
Voting interest and equity interest are not always
equal. For example, an owner can have a 100 percent voting
interest in a U.S. affiliate but own less than 100 percent of the
affiliate’s total equity. This situation is illustrated in the
following example.
Example: U.S. affiliate A has two classes of stock, common
and preferred. There are 50 shares of common stock
outstanding. Each common share is entitled to one vote and
has an ownership interest in 1 percent of the total owners’
equity amount. There are 50 shares of preferred stock
outstanding. Each preferred share has an ownership interest
in 1 percent of the total owners’ equity amount but has no
voting rights. Foreign parent B owns all 50 shares of the
common stock. U.S. investors own all 50 shares of the
preferred stock. Because foreign parent B owns all of the
voting stock, foreign parent B has a 100 percent voting
interest in U.S. affiliate A. However, because all 50 of the
nonvoting preferred shares are owned by U.S. investors,
foreign parent B has only a 50 percent interest in the owners’
equity amount of U.S. affiliate A.
6b. Determining place of residence and country of jurisdiction
of individuals – An individual is considered a resident of, and
subject to the jurisdiction of, the country in which he or she is
physically located. The following guidelines apply to individuals
who do not reside in their country of citizenship.
(1) Individuals who reside, or expect to reside, outside their
country of citizenship for less than one year are considered to
be residents of their country of citizenship.
(2) Individuals who reside, or expect to reside, outside their
country of citizenship for one year or more are considered to
be residents of the country in which they are residing, except
as provided in paragraphs (3) and (4) below.
(3) If an owner or employee of a business enterprise resides outside the country of location of the enterprise for one year or
more for the purpose of furthering the business of the
enterprise, and the country of the business enterprise is the
country of citizenship of the owner or employee, then the
owner or employee is considered a resident of the country of
citizenship, provided there is the intent to return to the
country of citizenship within a reasonable period of time.
(4) Individuals and members of their immediate family who are
residing outside their country of citizenship as a result of
employment by the government of that country - diplomats,
consular officials, members of the armed forces, etc. - are
considered to be residents of their country of citizenship.

PART II – SELECTED FINANCIAL AND OPERATING DATA
OF U.S. AFFILIATE

V. SPECIAL INSTRUCTIONS

19. Number of employees at close of FY 2008 – Employment is
the number of full-time and part-time employees on the payroll at
the end of FY 2008, excluding contract workers and other workers
not carried on the payroll of the U.S. affiliate. A count taken
during, rather than at the end of, FY 2008 may be used provided it
is a reasonable estimate for the end of FY 2008 number. If
employment at the end of FY 2008, or the count taken at some
other time during FY 2008, was unusually high or low because of
temporary factors (e.g., a strike), give the number of employees
that reflects normal operations. If the business enterprise’s activity
involves large seasonal variations, give the average number of
employees for FY 2008. If given, the average should be the
average for FY 2008 of the number of persons on the payroll at the
end of each payroll period, month, or quarter. If precise figures are
not available, give your best estimate.
20. Total employee compensation – Base compensation on payroll
records. Employee compensation must cover compensation
charged as an expense on the income statement, charged to
inventories, or capitalized during the reporting period. Exclude
employee compensation related to activities of a prior period, such
as compensation capitalized or charged to inventories in prior
periods. Employee compensation consists of:
a. Wages and salaries – are the gross earnings of all
employees before deduction of employees’ payroll withholding
taxes, social insurance contributions, group insurance
premiums, union dues, etc. Include time and piece rate
payments, cost of living adjustments, overtime pay and shift
differentials, bonuses, profit sharing amounts, and
commissions. Exclude commissions paid to persons who are
not employees.
b. Employee benefit plans – are employer expenditures for all
employee benefit plans, including those required by
government statute, those resulting from a collectivebargaining contract, or those that are voluntary. Employee
benefit plans include Social Security and other retirement
plans, life and disability insurance, guaranteed sick pay
programs, workers’ compensation insurance, medical
insurance, family allowances, unemployment insurance,
severance pay funds, etc. If plans are financed jointly by the
employer and the employee, include only the contributions of
the employer.
22. Expenditures for research and development (R&D)
performed BY the U.S. affiliate – Report all research and
development (R&D) performed BY the U.S. affiliate for its own
account or for others, including the foreign parent group and
affiliates owned by the U.S. affiliate. Include all costs incurred in
performing R&D, including depreciation, amortization, wages
and salaries, taxes, materials and supplies, allocated overhead,
and indirect costs. Exclude the cost of all R&D funded by the
U.S. affiliate but performed by others.
R&D includes activities carried on by persons trained, either
formally or by experience, in engineering, the physical sciences
such as chemistry and physics, the biological sciences such as
medicine, the mathematical and statistical sciences, and computer
science. R&D includes these activities if the purpose is to do one or
more of the following:
a. The planned, systematic pursuit of new knowledge or
understanding toward general application (basic research);
b. The acquisition of knowledge or understanding to meet a
specific, recognized need (applied research); or
c. The application of knowledge or understanding toward the
production or improvement of a product, service, process,
or method (development).

B. Real Estate – The ownership of real estate is defined to be a
business enterprise, and if the real estate is foreign owned, it is a
U.S. affiliate of a foreign person. A BE-15 report is required unless
the enterprise is otherwise exempt.
Residential real estate held exclusively for personal use and not for
profit making purposes is not subject to the reporting
requirements. A residence that is an owner’s primary residence
that is then leased by the owner while outside the United States,
but which the owner intends to reoccupy, is considered real estate
held for personal use and therefore not subject to the reporting
requirements. Ownership of U.S. residential real estate by a
corporation whose sole purpose is to hold the real estate for the
personal use of the owner(s) of the corporation is considered to be
real estate held for personal use and therefore not subject to the
reporting requirements.
Aggregation of real estate investments – A foreign person
holding real estate investments that are reportable on the BE-15 must
aggregate all such holdings for the purpose of applying the reporting
criteria. If the aggregate of such holdings exceeds one or more of the
exemption levels, then the holdings must be reported even if
individually they would be exempt. In such a case, file a single Form
BE-15(EZ) to report the aggregated holdings. If permission has been
received in writing from BEA to file on an non-aggregated basis, the
reports should be filed as a group and you should inform BEA that
they are all for one owner.
On page 1, name and address of U.S. business enterprise, BEA is not
seeking a legal description of the property, nor necessarily the address
of the property itself. Because there may be no operating business
enterprise for a real estate investment, what BEA seeks is a
consistently identifiable name for the investment (i.e., the U.S. affiliate)
together with an address to which report forms can be mailed so that
the investment (affiliate) can be reported on a consistent basis for each
reporting period and for the various BEA surveys.
Thus, on page 1 of the BE-15 survey forms the "name and
address" of the U.S. affiliate might be:
XYZ Corp. N.V., Real Estate Investments
c/o B&K Inc., Accountants
120 Major Street
Miami, FL XXXXX
If the investment property has a name, such as Sunrise Apartments,
the name and address on page 1 of the BE-15 survey forms might
be:
Sunrise Apartments
c/o ABC Real Estate
120 Major Street
Miami, FL XXXXX
There are questions throughout the Form BE-15(EZ) that may not
be applicable to certain types of real estate investments, such as
the employer identification number and the number of employees.
In such cases, mark the items "none".
Joint ventures and partnerships – If a foreign person has a direct or
indirect voting ownership interest of 10 percent or more in a joint
venture, partnership, etc., that is formed to own and hold, develop, or
operate real estate, the joint venture, partnership, etc., in its entirety,
not just the foreign person’s share, is a U.S. affiliate and must be
reported as follows:
1. If the foreign interest in the U.S. affiliate is directly held by the
foreign person then a BE-15 report must be filed by the affiliate
(subject to the aggregation rules discussed above).

R&D includes the activities described above whether
assigned to separate R&D organizational units of the
company or carried out by company laboratories and
technical groups not a part of an R&D organization.

FORM BE-15(EZ) (REV. 2/2009)

A. Insurance companies – Reporting should be in accordance with
U.S. Generally Accepted Accounting Principles not Statutory
Accounting Practices (SAP). For example, the BE-15 report should
include the following assets even though they are not acceptable
under SAP: 1. non-trusteed or free account assets, and 2.
nonadmitted assets such as furniture and equipment, agents’ debit
balances, and all receivables deemed to be collectible.

2. If a voting interest of more than 50 percent in the U.S. affiliate is
owned by another U.S. affiliate, the owned affiliate must be fully
consolidated in the BE-15 report of the owning affiliate.

Page 11

V. SPECIAL INSTRUCTIONS – Continued
3. If a voting interest of 50 percent or less in the U.S. affiliate is
owned by another U.S. affiliate, and no U.S. affiliate owns a
voting interest of more than 50 percent, then a separate BE-15
report must be filed by the owned affiliate. The BE-15 report(s)
of the owning affiliate(s) must show an equity investment in the
owned affiliate.
C. Farms – For farms that are not operated by their foreign owners,
the income statement and related items should be prepared based
on the extent to which the income from the farm accrues to, and
the expenses of the farm are borne by, the owner. Generally this
means that income, expenses, and gain (loss) assignable to the
owner should reflect the extent to which the risk of the operation
falls on the owner. For example, even though the operator and
other workers on the farm are hired by a management firm, if their
wages and salaries are assigned to, and borne by, the farm
operation being reported, then the operator and other workers
should be reported as employees of that farm operation and the
wages and salaries should be treated as an expense.
D. Estates, trusts, and intermediaries
A FOREIGN ESTATE is a person and therefore may have direct
investment, and the estate, not the beneficiary, is considered to
be the owner.
A TRUST is a person but it is not a business enterprise. The trust is
considered to be the same as an intermediary, and reporting should
be as outlined below. For reporting purposes, the beneficiary(ies) of
the trust, is (are) considered to be the owner(s) for purposes of
determining the existence of direct investment, except in two cases:
(1) if there is, or may be, a reversionary interest, and (2) if a
corporation or other organization creates a trust, designating its
shareholders or members as beneficiaries. In these two cases, the
creator(s) of the trust is (are) deemed to be the owner(s) of the
investments of the trust (or succeeding trusts where the presently
existing trust had evolved out of a prior trust), for the purposes of
determining the existence and reporting of direct investment.
This procedure is adopted in order to fulfill the statistical purposes
of this survey and does not imply that control over an enterprise
owned or controlled by a trust is, or can be, exercised by the
beneficiary(ies) or creator(s).
FOR AN INTERMEDIARY:
1. If a U.S. intermediary holds, exercises, administers, or manages a
particular foreign direct investment in the United States for the
beneficial owner, such intermediary is responsible for reporting
the required information for, and in the name of, the U.S.
affiliate. Alternatively, the U.S. intermediary can instruct the U.S.
affiliate to submit the required information. Upon so doing, the
intermediary is released from further liability to report, provided
it has informed BEA of the date such instructions were given and
provides BEA the name and address of the U.S. affiliate, and has
supplied the U.S. affiliate with any information in the possession
of, or which can be secured by, the intermediary that is necessary
to permit the U.S. affiliate to complete the required reports.
When acting in the capacity of an intermediary, the accounts or
transactions of the U.S. intermediary with a foreign beneficial
owner are considered as accounts or transactions of the U.S.
affiliate with the foreign beneficial owner. To the extent such
transactions or accounts are unavailable to the U.S. affiliate, BEA
may require the intermediary to report them.
2. If a foreign beneficial owner holds a U.S. affiliate through a
foreign intermediary, the U.S. affiliate may report the
intermediary as its foreign parent but, when requested, must also
identify and furnish information concerning the foreign beneficial
owner. Accounts or transactions of the U.S. affiliate with the
foreign intermediary are considered as accounts or transactions
of the U.S. affiliate with the foreign beneficial owner.
VI. FILING THE BE-15
A. Due date – File a fully completed and certified Form BE-15(EZ)
no later than May 31, 2009. If the U.S. affiliate is exempt from
filing Form BE-15(EZ) based on the criteria in instruction I starting
on page 7, complete and file the BE-15 Claim for Exemption by
May 31, 2009.

FORM BE-15(EZ) (REV. 2/2009)

Page 12

B. Mailing report forms to a foreign address – BEA will
accommodate foreign owners that wish to have forms sent directly
to them. However, the extra time consumed in mailing to and from
a foreign place may make meeting filing deadlines difficult. In such
cases, please consider using BEA’s electronic filing option. Go to
our web site at www.bea.gov/efile for details about this option.
To obtain forms online go to: www.bea.gov/fdi
C. Extensions – For the efficient processing of the survey and timely
dissemination of the results, it is important that your report be
filed by the due date. Nevertheless, reasonable requests for
extension of the filing deadline will be granted. Requests for
extensions of more than 30 days MUST be in writing and should
explain the basis for the request. You may request an extension
via email at be12/[email protected]. For extension requests of 30 days
or less, you may call BEA at (202) 606-5577. All requests for
extensions must be received NO LATER THAN the due date of
the report.
D. Assistance – For assistance, telephone (202) 606-5577 or send
email to be12/[email protected]. Forms can be obtained from BEA’s
web site at: www.bea.gov/fdi
E. Annual stockholders’ report or other financial statements –
Please furnish a copy of your FY 2008 annual stockholders’ report
or Form 10K when filing the BE-15 report. If you do not publish an
annual stockholders’ report or file Form 10K, please provide any
financial statements that may be prepared, including the
accompanying notes. Information contained in these statements is
useful in reviewing your report and may reduce the need for
further contact. Section 5(c) of the International Investment and
Trade in Services Survey Act, Public Law 94-472, 90 Stat. 2059, 22
U.S.C. 3101-3108, as amended, provides that this information can
be used for analytical and statistical purposes only and that it must
be held strictly confidential.
F. Number of copies – File a single original copy of the form. If you
are not filing electronically, this should be the copy with the
address label on page 1, if such a labeled copy has been provided
by BEA. (Make corrections to the address on the label, if
necessary.) You should also retain a file copy of each report for
three years to facilitate resolution of any questions that BEA may
have concerning your report. (Both copies are protected by law;
see the statement on confidentiality in paragraph VI.H. below.)
G. Where to send the report – Send reports filed by mail
through the U.S. Postal service to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-49(A)
Washington, DC 20230
Direct reports filed by private delivery service to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-49(A)
Shipping and Receiving Section, M100
1441 L Street, NW
Washington, DC 20005
H. Confidentiality – The information filed in this report may be used
only for analytical or statistical purposes and access to the
information shall be available only to officials and employees
(including consultants and contractors and their employees) of
agencies designated by the President to perform functions under
the Act. The President may authorize the exchange of the
information between agencies or officials designated to perform
functions under the Act, but only for analytical and statistical
purposes. No official or employee (including consultants and
contractors and their employees) shall publish or make available
any information collected under the Act in such a manner that the
person to whom the information relates can be specifically
identified. Reports and copies of reports prepared pursuant to the
Act are confidential and their submission or disclosure shall not be
compelled by any person without the prior written permission of
the person filing the report and the customer of such person
where the information supplied is identifiable as being derived
from the records of such customer (22 U.S.C. 3104).

File Type	application/pdf
File Modified	2009-02-03
File Created	2009-02-03