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pdfBE-577 (Rev. 02/2017)
OMB No. 0608-0004: Approval Expires 11/30/2019
QUARTERLY SURVEY OF U.S. DIRECT INVESTMENT ABROAD
Transactions of U.S. Reporter with Foreign Affiliate
Affiliate ID
MANDATORY – CONFIDENTIAL
1
www.bea.gov/efile
What is the date range and year within which the
foreign affiliate's quarter ends for this report?
Mark (X) one and enter year.
Telephone:
(301) 278-9261
E-mail:
[email protected]
Mail reports to:
Bureau of Economic Analysis
003 2 Name of U.S. Reporter
Direct Investment Division, BE-69(Q)
4600 Silver Hill Road
Washington, DC 20233
3 U.S. Reporter mailing address – Generally, each U.S. Reporter
Bureau of Economic Analysis
has a single address for all of its BE-577 reports.
Direct Investment Division, BE-69(Q)
4600 Silver Hill Road
Suitland, MD 20746
Deliver reports to:
(301) 278-9501
Copies of form:
www.bea.gov/dia
2/16–5/15
004 4
Definitions: Underlined terms are defined on page 11.
Due date: 30 days after the close of each calendar or fiscal
quarter end; 45 days if the report is for the final quarter of the
financial reporting year.
5/16–8/15
8/16–11/15
11/16–2/15
Year
Name of foreign affiliate being reported
You may include your internal code in the affiliate name if it is helpful for
your records. Use the same name on all reports filed subsequently for
this affiliate with the Bureau of Economic Analysis, e.g., Forms BE-11
and BE-10.
Who must report: A Form BE-577 is required from every U.S. person that had direct transactions or positions with a foreign business
enterprise in which it had a direct and/or indirect ownership interest of at least 10 percent of the voting stock if an incorporated business
enterprise or an equivalent interest if an unincorporated business enterprise at any time during the reporting period. Reports are required
even though a foreign affiliate may have been established, acquired, seized, liquidated, expropriated, sold, or inactivated during the
reporting period. Certain private funds may be exempt from filing; see item C on the claim for exemption on page 9 for more information.
Basic requirement: A Form BE-577 must be filed for each 1) directly-owned foreign affiliate for which total assets; annual sales or gross
operating revenues, excluding sales taxes; or annual net income after provision for foreign income taxes was greater than $60 million
(positive or negative) at any time during the affiliate’s fiscal reporting year and each 2) indirectly-owned foreign affiliate that met the $60
million threshold and had an intercompany receivable or payable balance with the U.S. Reporter that exceeded $1 million. If this affiliate
does not meet the reporting requirements, complete Part V .
Coverage: All transactions or positions with the foreign affiliate by all U.S. domestic subsidiaries, divisions, etc., which constitute the
U.S. Reporter, as defined on page 11, must be combined on one Form BE-577.
Monetary values: Report in thousands of U.S. dollars. If an amount is between positive and negative $500, enter “0.” Use parentheses to
indicate negative numbers.
Estimates: In order to supply a timely report, if actual amounts are not available, supply reasonable estimates and label them as such.
5
Country of location (country where affiliate’s physical assets are located or primary activity is carried out).
This may differ from country of incorporation .
005
Note – If the affiliate is engaged in petroleum, shipping, other water transportation, or oil and gas drilling, and
has operations spanning more than one country, use country of incorporation for country of location. For
example, classify in country of incorporation an oil drilling rig that moves from country to country during the year.
6
Is the foreign affiliate incorporated in the country of location indicated in 5 ?
007 1
1
7
If the foreign affiliate’s industry classification, based on the largest annual sales
or gross operating revenues, has changed, enter the revised industry code.
If this is an initial filing enter the current industry code.
1
2
Yes
No
006 1
_ _ _ _
Refer to the Summary of Industry Classifications on page 13 or go to www.bea.gov/naics2007. . . . .
Please continue on next page
Revised
Current
Industry Code
2
_ _ _ _
Affiliate ID
8
How has the affiliate's reporting status changed during the quarter?
Mark (X) one
008
1
1
1
1
1
1
1
1
9
1
. . . . . . . . .
2
3
4
5
Affiliate was liquidated. Only complete Part III and specify date of status change.
6
Affiliate fell below exemption level. Only complete Part V (Claim for Exemption).
7
Affiliate became inactive. Specify date of status change.
8
Affiliate did not change reporting status during the quarter.
MM / DD / YYYY
2
How many foreign business enterprises are fully consolidated on this report? – If this report is for a
single business enterprise, enter “1” in the box below.
• The U.S. Reporter must consolidate foreign business enterprises on Form BE-577 in the same
manner as on Forms BE-11 and BE-10. See Rules for Consolidation on page 10.
010
. . . . . . . . . . . . . . . . .
10 What type of equity interest does the U.S. Reporter hold in this foreign affiliate?
011
1
1
1
1
1
2
3
4
Only a direct equity interest – SKIP to 12 .
Only an indirect equity interest through another foreign affiliate.
Both a direct and indirect equity interest. What is the percentage of direct equity interest? . . . . . .
Voting interest only (No equity interest). Only complete Part II .
11 What is the name and ID number (if available) of the top
2
___ ___ . ___
%
009
foreign affiliate parent in this affiliate’s ownership
chain that is directly owned by the U.S. Reporter? . . . . . . . . . . . . . . . .
Example 1
• If the U.S. Reporter directly owns foreign affiliate A, which, in
turn, directly owns foreign affiliate B, which, in turn, directly
owns this affiliate (foreign affiliate C), then affiliate A’s ID (top
foreign affiliate parent) should be provided in this item.
U.S. Reporter
Foreign affiliate A (top foreign affiliate parent)
directly owned by the U.S. Reporter
Example 2
• For affiliates that are both directly and indirectly owned by the U.S.
Reporter, the amounts reported in Part I , Part III , and Part IV
must be based on the U.S. Reporter’s direct equity interest only.
• Amounts reported in Part II should only reflect direct transactions,
irrespective of direct or indirect ownership.
U.S. Reporter
Foreign affiliate A (top foreign affiliate parent)
directly owned by the U.S. Reporter
Foreign affiliate B
Foreign affiliate C
identified in 4
Page 2
Please continue on next page
Foreign affiliate C
identified in 4
FORM BE-577 (Rev. 02/2017)
Part I – U.S. Reporter’s Direct Equity Share in the Foreign Affiliate
Affiliate ID
Report all items on a quarterly basis, NOT on a cumulative or year-to-date basis. Special instructions
for dealers in financial instruments and finance and insurance and real estate companies are on
pages 10 and 11.
Current Quarter
12 Based on the books of the foreign affiliate, what is the U.S. Reporter’s share of:
Bil.
. . . . . . . . . .
A. The foreign affiliate’s quarterly net income (loss), after provision for foreign income taxes?. . . . .
• Include income from equity investments. For foreign affiliates owned 20 percent or more, report
equity in earnings during the quarter; for those owned less than 20 percent, report dividends or
distributed earnings for unincorporated affiliates.
• Do not include dividend income from subsidiaries of this foreign affiliate except for those owned
less than 20 percent.
• Report data before provision for common or preferred dividends and before any reduction for
foreign withholding taxes on dividends.
• Do not eliminate intercompany transactions such as royalty payments and receipts.
Dols.
000
Bil.
1. Included in net income (loss) 12 A?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Thou.
$
B. Certain gains (losses), after provision for foreign income taxes:
111
Mil.
Mil.
Thou.
$
Dols.
000
• Sale or disposition of financial assets including investment securities; FASB ASC 320 (FAS 115)
holding gains (losses) on securities classified as trading securities; FASB ASC 320 impairment
losses; and gains (losses) derived from derivative instruments.
• Sales or dispositions of land, other property, plant, and equipment, or other assets, and FASB
ASC 360 (FAS 144) impairment losses. Exclude gains (losses) from the sale of inventory assets
in the ordinary course of trade or business.
• Goodwill impairment as defined by FASB ASC 350 (FAS 142).
• Restructuring. Include restructuring costs that reflect write-downs or write-offs of assets or
liabilities. Exclude actual payments and charges to establish reserves for future expected
payments, such as for severance pay, and fees to accountants, lawyers, consultants, or other
contractors.
• Disposals of discontinued operations. Exclude income from the operations of a discontinued
segment.
• Remeasurement of foreign affiliate’s foreign-currency-denominated assets and liabilities due to
changes in foreign exchange rates during the reporting period.
• The cumulative effect of a change in accounting principle.
• Extraordinary, unusual, or infrequently occurring items that are material. Include losses from
accidental damage or disasters after estimated insurance reimbursement. Include other material
items, including write-ups, write-downs, and write-offs of tangible and intangible assets; gains
(losses) from the sale or other disposition of capital assets; and gains (losses) from the sale or
other disposition of financial assets, including securities, to the extent not included above.
Exclude legal judgments.
• The cumulative effect of a change in the estimate of stock compensation forfeitures under FASB
ASC 718 (FAS 123(R)).
Bil.
121
2. Not included in net income (loss) 12 A but taken directly to other comprehensive income (loss)?. . . . .
Mil.
Thou.
$
Dols.
000
•
•
Bil.
131
. . . . . . . . . . . . . . . . . . . . . . . . . .
• Report U.S. Reporter’s share of currency translation adjustments resulting from the translation of
the foreign affiliate’s financial statements from the affiliate’s functional currency into U.S. dollars.
Such adjustments should be computed in accordance with FASB ASC 830 (FAS 52) or other
currently applicable standards of the Financial Accounting Standards Board.
FORM BE-577 (Rev. 2/2017)
Please continue on next page
$
Mil.
Thou.
Dols.
000
Page 3
Part I – U.S. Reporter’s Direct Equity Share in the Foreign Affiliate (Continued)
Affiliate ID
Report all items on a quarterly basis, NOT on a cumulative or year-to-date basis.
13 Based on the books of the U.S. Reporter, what is the U.S. Reporter’s share of:
Current Quarter
A. Dividends or earnings distributed (gross of foreign affiliate withholding taxes) to the U.S.
Reporter by this affiliate?
Bil.
141
Mil.
Thou.
$
Dols.
000
• Report dividends on common and preferred stock of an incorporated foreign affiliate or earnings
distributed of an unincorporated foreign affiliate.
• Exclude stock and liquidating dividends. Report liquidating dividends in Part III 20 .
• Report dividends as of the date they were declared or paid (or recorded as a payable), GROSS of
any foreign taxes withheld. Any subsequent settlement of dividends declared but not paid SHOULD
NOT be reported a second time, but should be reflected only as a reduction in Part II 17 .
B. Foreign tax withheld on dividends of incorporated foreign affiliate or distributed earnings of
151
unincorporated foreign affiliate 13 A? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
161
C. The net amount of dividends/earnings distributed to the U.S. Reporter by this affiliate
( 13 A less 13 B)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Bil.
Mil.
Thou.
000
$
Bil.
$
Dols.
Mil.
Thou.
Dols.
000
Remarks
Page 4
Please continue on next page
FORM BE-577 (Rev. 2/2017)
Part II – Receivable and Payable Balances and Interest Between the U.S. Reporter
and Foreign Affiliate
Affiliate ID
Questions 14 through 16 are intended to assist banks and other types of finance companies to
determine how to fill out the rest of Part II . U.S. reporters that also file Treasury International Capital (TIC)
B Forms may not be required to complete questions 17 and 18 .
14
Is the foreign affiliate a depository or non-depository bank (ISI codes 5221 or 5229), a securities
broker or dealer (ISI code 5231), or in the finance industry (ISI codes 5223, 5224, 5238, or 5252)?
012
1
1
15
1
Yes
2
No – SKIP to 17
Is the U.S. Reporter named in 2 a “bank” or primarily acting as a securities broker or dealer (ISI code 5231)?
Note: A “bank” is a business engaged in deposit banking or closely related functions. Examples include commercial
banks, Edge Act corporations, U.S. branches and agencies of foreign banks whether or not they accept deposits
abroad, savings and loans, savings banks, bank holding companies, and financial holding companies under the
Gramm-Leach-Bliley Act.
013 1
1
1
Yes – Go to 16 A.
2
No – Go to 16 B.
16 A. Does the U.S. Reporter named in 2 have consolidated U.S. subsidiaries or units that have insurance, real
estate, or leasing activities?
014
1
1
1
2
Yes – Complete 17 and 18 but ONLY report the balances and interest between this foreign affiliate and the
units of the U.S. Reporter engaged in insurance, real estate, or leasing activities.
No – SKIP to Part III
B. Does the U.S. Reporter named in 2 have consolidated U.S. subsidiaries or units that have depository or
non-depository banking activities (ISI codes 5221 or 5229) or securities broker or dealer activities (ISI code 5231)?
015
1
1
1
2
Yes – Complete 17 and 18 but ONLY report the balances and interest between this foreign affiliate and the units
of the U.S. Reporter NOT engaged in depository or non-depository banking activities or securities broker or
dealer activities.
No – Go to 17
Remarks
FORM BE-577 (Rev. 2/2017)
Please continue on next page
Page 5
Part II – Receivable and Payable Balances and Interest Between the U.S. Reporter
and Foreign Affiliate (Continued)
Affiliate ID
Report all current and long-term receivable and payable balances and related interest ONLY
between the U.S. Reporter and the foreign affiliate named in 4 .
• Base data on the books of the U.S. Reporter.
• Report interest income or expense accrued in the current quarter (not year to date), GROSS OF WITHHOLDING TAXES.
• Exclude debt balances and associated interest with all other affiliated or unaffiliated entities.
• The current quarter’s opening balance should be equal to the prior quarter’s closing balance; therefore, if it is
necessary to translate the balance into U.S. dollars, use the same exchange rate to translate the opening balance for the
current quarter as was used to translate the closing balance of the prior quarter.
• Include interest on capital leases.
• Include current and long-term items, indebtedness resulting from a capital lease, and the net book value of
equipment under a long-term operating lease.
– If leases between the U.S. Reporter and the foreign affiliate are capitalized, then include the outstanding
capitalized value as an intercompany balance. Lease payments should be disaggregated into the amount that is
(i) a reduction in the intercompany balance and (ii) interest.
– If leases between the U.S. Reporter and the foreign affiliate are operating leases for more than one year that have not
been capitalized, include the net book value. Lease payments should be disaggregated into the amounts that represent
(i) the return of capital, consisting of the depreciation component for long-term operating leases, which should be
reflected as a reduction in items 17 or 18 , and (ii) rent or net rent, which is not covered by this survey.
• Derivatives contracts – Exclude the value of outstanding financial derivatives contracts or any payments or receipts resulting
from the settlement of these contracts. For example, the settlements of interest rate derivatives should NOT be reported as
interest or as another type of transaction on this form. Derivatives contracts are covered by the Treasury International Capital
(TIC) Form D, Report of Holdings of, and Transactions in, Financial Derivatives Contracts.
Do NOT net receivables and payables or interest income and expense.
Interest
Receivable balances
Beginning of quarter
17 What are the short- and
long-term receivables due
to the U.S. Reporter from
the foreign affiliate and the
related interest income on
those balances?
221
Bil.
Mil.
Current quarter
End of quarter
(3)
(2)
(1)
Thou.
$
Dols.
000
222
Bil.
Mil.
Thou.
$
Dols.
000
171
Bil.
long-term payables due to
the foreign affiliate from
the U.S. Reporter and the
related interest expense
on those balances?
Beginning of quarter
231
$
Mil.
000
Current quarter
End of quarter
(3)
(2)
Thou.
Dols.
000
232
Dols.
Interest
(1)
Bil.
Thou.
$
Payable balances
18 What are the short- and
Mil.
Bil.
$
Mil.
Thou.
Dols.
000
172
Bil.
$
Mil.
Thou.
Dols.
000
If the closing balance on the preceding quarter’s report differs from the beginning balance above, please note.
Page 6
Please continue on next page
FORM BE-577 (Rev. 2/2017)
Part III – Change in U.S. Reporter’s Equity in the Foreign Affiliate
Affiliate ID
Report the transaction (i.e., market) value of consideration given or received, during the quarter listed
in 1 , for increases or decreases in the U.S. Reporter’s equity holdings in the foreign affiliate.
Include in 19 or 20 :
• Treasury stock transactions with the U.S. Reporter and liquidating dividends.
• Capitalization of intercompany debt (report the amount of debt converted to equity as the transaction value of the
equity increase in 19 B), and adjust the debt balance as appropriate in Part II 17 .
Exclude from 19 and 20 changes caused by:
• Carrying net income (loss) to the equity account.
• Dividends/earnings distributed and stock dividends.
• Balance sheet translation adjustments.
• The effect of treasury stock transactions with persons other than the U.S. Reporter.
• Reorganizations in capital structure that do not affect total equity.
• Transactions between a directly-owned foreign affiliate and foreign affiliates that it owns, and transactions between indirectly owned
affiliates. (For affiliates that are entirely indirectly-owned by the U.S. Reporter, 19 and 20 should be blank.)
• Investments that are written off (include the amount written off in 20 A I or 20 A II, as appropriate).
Unincorporated foreign affiliates must report the U.S. Reporter’s share of any increase (decrease) in the foreign affiliate’s equity (or
home office account) arising from its transactions with the U.S. Reporter, excluding amounts reported in Part I or Part II .
19 What is the increase in the U.S. Reporter’s equity interest in this affiliate due to:
242
A. Establishment of affiliate or acquisition (partial or total) of an equity interest in this affiliate
by the U.S. Reporter either from the affiliate or from other foreign persons? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
What are the amounts by which the transaction value:
Bil.
301
I. Exceeds the value carried on the books of the affiliate? . . . . . .
311
II. Is less than the value carried on the books of the affiliate? . . .
Mil.
Thou.
Bil.
Mil.
Thou.
$
Dols.
000
Dols.
$
000
$
000
Bil.
252
B. Capital contributions and other transactions of the U.S. Reporter with foreign persons? . . . . . . . . . . .
Specify:
262
C. Acquisition (partial or total) of an equity interest in this affiliate by the U.S. Reporter
from other U.S. persons? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mil.
Thou.
$
Dols.
000
Bil.
Mil.
Thou.
Dols.
000
$
Give name and address of seller:
20 What is the decrease in the U.S. Reporter’s equity interest in this affiliate due to:
272
A. Liquidation of affiliate or sale (partial or total) of an equity interest in this affiliate by the
U.S. Reporter either to the affiliate or to other foreign persons?. . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
What are the amounts by which the transaction value:
302
I. Exceeds the value carried on the books of the affiliate? . . . . .
312
II. Is less than the value carried on the books of the affiliate? . . .
Bil.
Mil.
Thou.
$
000
$
000
B. Return of capital contributions and other transactions of the U.S. Reporter with foreign persons? . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
292
C. Sale (partial or total) of an equity interest in this affiliate by the U.S. Reporter to other U.S. persons?
Give name and address of new owner:
Please continue on next page
Mil.
Thou.
$
Dols.
000
Dols.
282
FORM BE-577 (Rev. 2/2017)
Bil.
Bil.
Mil.
Thou.
$
000
Bil.
$
Dols.
Mil.
Thou.
Dols.
000
Page 7
Affiliate ID
Part IV – Selected Annual Data
• Complete once a year, no later than the second report following the close of the fiscal year.
• If an initial report, complete 21 – 26 as of the ending date of the quarter for the initial report.
• Include the cumulative translation adjustment in 25 D or 26 , as appropriate.
• Retained earnings (deficit) of unconsolidated indirectly-owned affiliates should be included on the
report of the directly-owned foreign affiliate parent in 25 C or 26 , as appropriate, on an equity basis.
MM / DD / YYYY
322
21 . . . . . . . . . . . . . . .
22 What is the U.S. Reporter’s percent of direct ownership based on equity interest
332
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
___ ___ ___ . ___
%
U.S. Reporter’s Equity in Foreign Affiliate’s Annual Net Income (Loss)
23 What is the U.S. Reporter’s direct equity in the affiliate's annual net income (loss) after
342
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Bil.
Mil.
Thou.
$
Dols.
000
• Include, on an equity basis, this foreign affiliate’s share of net income (loss) in all unconsolidated
foreign enterprises it owns.
• Report annual net income (loss) calculated on the same basis used for calculating quarterly net
income (loss), 12 A.
343
24 What is the U.S. Reporter’s share of certain gains (losses) included in net income in
item 23 ? (Refer to instructions for 12 B1 on page 3.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Bil.
Mil.
Thou.
$
Dols.
000
U.S. Reporter’s Share of Total Owners’ Equity in Foreign Affiliate at Year End
(Or Quarter End if an Initial Report)
25 What is the U.S. Reporter’s direct equity in the incorporated foreign affiliate's:
352
A. Total equity – Equals the sum of 25 B through 25 E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
362
B. Capital stock and additional paid-in capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
372
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accumulated other comprehensive income (loss)
382
D. Translation adjustment component. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
392
E. All other components including other comprehensive income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . .
26 What is the U.S. Reporter’s share of total owners’ equity in the unincorporated
402
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Bil.
Mil.
Thou.
Dols.
000
$
Bil.
Mil.
Thou.
$
Dols.
000
Bil.
Mil.
Thou.
$
Dols.
000
Bil.
Mil.
Thou.
$
Dols.
000
Bil.
Mil.
Thou.
$
Dols.
000
Bil.
$
Mil.
Thou.
Dols.
000
• In calculating owner’s equity, any assets or liabilities of the affiliate carried on any owners’ books,
as well as those carried on the affiliate's books, should be included.
• Owner’s equity should include cumulative earnings not distributed.
STOP
Page 8
Do not continue to page 9 UNLESS your company is exempt from reporting.
Please refer to the instruction about Basic Requirements on page 1 for more information.
FORM BE-577 (Rev. 2/2017)
Affiliate ID
Part V – Claim for Exemption
27 The affiliate is exempt from filing a BE-577 report if ANY ONE of the conditions specified in
480
1
statements A–C below applies. Select the statement that applies and answer ALL adjacent questions.
A.
The affiliate is exempt because ALL of the items below (not just the U.S. Reporter's share) were
less than or equal to $60 million (positive or negative) during the affiliate's last four fiscal quarters.
If 12 months of data are not available, give full-year projections.
MM / DD / YYYY
502
12-month period ended. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Bil.
Dols.
000
491
$
000
501
$
000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
B.
Thou.
$
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Mil.
481
The affiliate is exempt because it is INDIRECTLY owned AND neither of the following items exceeds $1 million.
• Foreign affiliate’s end-of-quarter payables to the U.S. Reporter
• Foreign affiliate’s end-of-quarter receivables from the U.S. Reporter
What is the name and BEA ID number (if available) of the top foreign affiliate parent in this affiliate's ownership chain that is
directly owned by the U.S. Reporter? Refer to examples on page 2.
009
3
C.
The affiliate is exempt because ALL three of the following statements apply.
• The affiliate is a private fund.
• The private fund affiliate does not own, directly or indirectly through another business enterprise, an “operating company”—
i.e., a business enterprise that is not a private fund or a holding company—in which the consolidated U.S. Reporter owns at
least 10 percent of the voting interest.
• If the U.S. Reporter owns the private fund indirectly (through one or more other business enterprises), there are no
“operating companies” between the consolidated U.S. Reporter and the indirectly owned private fund foreign affiliate.
If the U.S. Reporter owns this private fund indirectly, what is the name and BEA ID number of the top foreign affiliate parent
in this affiliate's ownership chain that is directly owned by the U.S. Reporter? Refer to examples on page 2.
009
The U.S. reporter’s investment in the foreign private fund may be required to be reported on Treasury International
Capital (TIC) surveys, review reporting requirements for TIC surveys at www.treasury.gov/tic.
Remarks
BEA USE ONLY
FORM BE-577 (Rev. 2/2017)
462
463
464
465
466
467
468
469
Page 9
Rules for Consolidation
Follow these rules to determine which foreign business enterprises may be consolidated on one foreign affiliate form.
Are the foreign business enterprises located in the
same country?
No
Do not consolidate
No
Do not consolidate
Yes
Are the foreign business enterprises in the same 4-digit
International Surveys Industry (ISI) classification or
integral parts of the same business operation?
Yes
Are the foreign business enterprises owned by the
same immediate parent?
Yes
Are the foreign business enterprises foreign bank
branches?
Yes
No
Must consolidate
May consolidate
No
Is one of the foreign business enterprises 100% owned
by the other business enterprise?
Yes
No
May consolidate
Do not consolidate
Note: Foreign business enterprises that have an equity investment in an unconsolidated business enterprise should report that
investment using the equity method of accounting.
Special Instructions for Reporting Unincorporated Foreign Affiliates of U.S. Reporters
U.S. Reporters that cannot distinguish between equity and debt investment in their unincorporated foreign affiliates:
If your accounting records do not distinguish between intercompany debt ( 17 and 18 ) and equity 26 , then:
1. Compute the net change in the home office account. This equals: End-of-quarter home office account
minus beginning-of-quarter home office account.
2. Subtract net income (loss) 12 A, certain realized and unrealized gains (losses) taken directly to other
comprehensive income or owner’s equity 12 B2, and the quarterly translation adjustment 12 C.
3. If the amount computed in 2. is positive, show it as an increase in equity 19 B. If the amount computed
in 2. is negative, show it as a remittance of earnings ( 13 A and 13 C) to the extent that there is quarterly
net income; show the residual, if any, as a decrease in equity 20 B. 17 and 18 should be blank.
Special Instructions for Dealers in Financial Instruments and Finance and Insurance
Dealers in financial instruments (including securities, currencies, derivatives, and other financial instruments) and
finance and insurance companies:
• Include in 12 B1: (1) impairment losses as defined by FASB ASC 320 (FAS 115), (2) realized gains or losses on trading
or dealing, and (3) unrealized gains or losses due to changes in the valuation of financial instruments that flow through
the income statement, and goodwill impairment as defined by FASB ASC 350 (FAS 142).
• Include unrealized gains or losses due to changes in the valuation of financial instruments that are taken directly to other
comprehensive income in 12 B2. Include income from explicit fees and commissions in 12 A.
Page 10
FORM BE-577 (Rev. 2/2017)
Special Instructions for Real Estate Companies
Real estate companies:
Report gains or losses from the sale, disposition, or revaluation of land, other property, plant, and equipment, or other assets
as follows:
Realized gains and losses
• Include gains or losses from sale of real estate in the ordinary course of trade or business in net income, 12 A.
• Do NOT include these gains and losses in 12 B1 or in 12 B2.
Impairment of long-lived assets
• Include impairment losses, as defined by FASB ASC 360 (FAS 144), and recognized during the period, in
net income, 12 A, and in 12 B1.
Unrealized gains
• Include gains recognized due to the revaluation of real estate assets in 12 B1.
• Include goodwill impairment as defined by FASB ASC 350 (FAS 142).
Definitions
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 or an equivalent interest for an
unincorporated business enterprise, including a branch.
Branch means the operations or activities conducted by a person in a different location in its own name rather than through an
incorporated entity.
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.
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 foreign business enterprise or an equivalent interest in an unincorporated foreign business enterprise, including a branch.
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.
Foreign affiliate means an affiliate located outside the United States in which a U.S. person has direct investment.
Foreign affiliate parent means a U.S. Reporter’s foreign affiliate that has an equity interest in another foreign affiliate of the U.S. Reporter.
Foreign person means any person resident outside the United States or subject to the jurisdiction of a country other than the United
States.
Lease is an arrangement conveying the right to use property, plant, or equipment (i.e., land and/or depreciable assets), usually for a stated
period of time.
a. Capital lease – A long-term lease under which transfer of ownership is recognized at the inception of the lease. These may be shown
as lease contracts or accounts receivable on the lessor’s books. The asset would not be considered to be owned by the lessor.
b. Operating lease – Generally a lease with a term which is less than the useful life of the asset and in which a transfer of ownership is
not contemplated.
Person (as the term is used in the broad legal sense) means any individual, branch, partnership, associated group, association, estate,
trust, corporation, or other organization (whether or not organized under the laws of any state), and any government (including a foreign
government, the United States Government, a state or local government, and any agency corporation, financial institution, or other entity
or instrumentality thereof, including a government-sponsored agency).
Private fund refers to the same class of financial entities defined by the Securities and Exchange Commission as private funds on Form
PF: “any issuer that would be an investment company as defined in section 3 of the Investment Company Act of 1940 but for section 3(c)
(1) or 3(c)(7) of … [that] Act.”
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.
U.S. person means any person resident in the United States or subject to the jurisdiction of the United States.
U.S. Reporter means the U.S. person that has direct investment in a foreign business enterprise, including a branch. If the U.S. person is
an incorporated business enterprise, the U.S. Reporter is the fully consolidated U.S. domestic enterprise, which is defined as: (1) the U.S.
corporation whose voting securities are not owned more than 50 percent by another U.S. corporation, and (2) proceeding down
each ownership chain from that U.S. corporation, any U.S. corporation whose voting securities are more than 50 percent owned by
the U.S. corporation above it. This consolidation excludes foreign branches and all other foreign affiliates.
FORM BE-577 (Rev. 2/2017)
Page 11
Survey Information
Purpose – Reports on this form are required in order to provide reliable and up-to-date information on U.S. direct investment abroad for
inclusion in the U.S. international transactions and the national income and product accounts.
Authority – 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) – hereinafter “the Act”, and the filing of reports is mandatory under Section 5(b) (2) of the Act
(22 U.S.C. 3104). All persons contacted by BEA in writing must respond pursuant to section 801.3 of 15 C.F.R. pt. 801 and the survey
instructions.
Penalties – Whoever fails to report may be subject to a civil penalty of not less than $4,527, and not more than $45,268, or to injunctive
relief commanding such person to comply, or both. Whoever willfully fails to report shall be fined not more than $10,000 or, 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 violation, upon conviction, may be punished by a like fine, imprisonment, or both. (22 U.S.C. 3105.) Civil penalties are
subject to inflationary adjustments. Those adjustments are found in 15 CFR 6.4.
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.
Respondent Burden – Public reporting burden for this collection of information is estimated to average 1 hour 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, 4600 Silver Hill Road, Washington, DC 20233; and to the Office of Management and Budget, Paperwork Reduction Project
0608-0004, Washington, DC 20503.
Confidentiality – The Act provides that your report 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. Per the Cybersecurity Enhancement Act of 2015, your data are protected from cybersecurity risks through
security monitoring of the BEA information systems.
Accounting methods and records – Follow generally accepted U.S. accounting principles unless otherwise specified in the instructions.
Corporations should generally use the same methods and records used to generate reports to stockholders, except where otherwise
instructed. Generate reports for unincorporated persons on an equivalent basis. Financial Accounting Standards Board Accounting
Standards Codification Topics are referred to as “FASB ASC” in the instructions.
Retention of copies – Retain a copy of filed reports for 3 years beyond the report’s original due date.
Retroactive reports – Quarterly reports for a year may be required retroactively when it is determined that the exemption level has been
exceeded. If a foreign affiliate’s total assets, sales, or net income (loss) exceed the exemption level in a given year, it is deemed that the
exemption level will also be exceeded in the following year. A U.S. Reporter claiming exemption from filing a given report must complete
the Claim for Exemption, giving the levels of total assets, sales, and net income (loss).
Page 12
FORM BE-577 (Rev. 2/2017)
SUMMARY OF INDUSTRY CLASSIFICATI
TIONS
For a full description of each classification, see www.bea.gov/naics2007
Agriculture, Forestry, Fishing, and Hunting
1110 Crop production
1120 Animal production
1130 Forestry and logging
1140 Fishing, hunting, and trapping
1150 Support activities for agriculture and forestry
Mining
2111 Oil and gas extraction
2121 Coal
2123 Nonmetallic minerals
2124 Iron ores
2125 Gold and silver ores
2126 Copper, nickel, lead, and zinc ores
2127 Other metal ores
2132 Support activities for oil and gas operations
2133 Support activities for mining, except for oil and
gas operations
Utilities
2211 Electric power generation, transmission, and
distribution
2212 Natural gas distribution
2213 Water, sewage, and other systems
Construction
2360 Construction of buildings
2370 Heavy and civil engineering construction
2380 Specialty trade contractors
Manufacturing
3111 Animal foods
3112 Grain and oilseed milling
3113 Sugar and confectionery products
3114 Fruit and vegetable preserving and specialty
foods
3115 Dairy products
3116 Meat products
3117 Seafood product preparation and packaging
3118 Bakeries and tortillas
3119 Other food products
3121 Beverages
3122 Tobacco
3130 Textile mills
3140 Textile product mills
3150 Apparel
3160 Leather and allied products
3210 Wood products
3221 Pulp, paper, and paperboard mills
3222 Converted paper products
3231 Printing and related support activities
3242 Integrated petroleum refining and extraction
3243 Petroleum refining without extraction
3244 Asphalt and other petroleum and coal products
3251 Basic chemicals
3252 Resins, synthetic rubbers, and artificial and
synthetic fibers an filaments
3253 Pesticides, fertilizers, and other agricultural
chemicals
3254 Pharmaceuticals and medicines
3255 Paints, coatings, and adhesives
3256 Soap, cleaning compounds, and toilet
preparations
3259 Other chemical products and preparations
3261 Plastics products
3262 Rubber products
3271 Clay products and refractories
3272 Glass and glass products
3273 Cement and concrete products
3274 Lime and gypsum products
3279 Other nonmetallic mineral products
3311 Iron and steel mills and ferroalloys
3312 Steel products from purchased steel
3313 Alumina and aluminum production and
processing
3314 Nonferrous metal (except aluminum)
production and processing
3315 Foundries
3321 Forging and stamping
3322 Cutlery and handtools
3323 Architectural and structural metals
3324 Boilers, tanks, and shipping containers
3325 Hardware
3326 Spring and wire products
3327 Machine shops; turned products; and screws,
nuts, and bolts
3328 Coating, engraving, heat treating, and allied
activities
3329 Other fabricated metal products
3331 Agriculture, construction, and mining
machinery
3332 Industrial machinery
3333 Commercial and service industry machinery
FORM BE-577 (Rev. 2/2017)
3334
3335
3336
3339
3341
3342
3343
3344
3345
3346
3351
3352
3353
3359
3361
3362
3363
3364
3365
3366
3369
3370
3391
3399
Ventilation, heating, air-conditioning,
and commercial refrigeration equipment
Metalworking machinery
Engines, turbines, and power
transmission equipment
Other general purpose machinery
Computer and peripheral equipment
Communications equipment
Audio and video equipment
Semiconductors and other electronic components
Navigational, measuring, electromedical,
and control instruments
Manufacturing and reproducing magnetic
and optical media
Electric lighting equipment
Household appliances
Electrical equipment
Other electrical equipment and components
Motor vehicles
Motor vehicle bodies and trailers
Motor vehicle parts
Aerospace products and parts
Railroad rolling stock
Ship and boat building
Other transportation equipment
Furniture and related products
Medical equipment and supplies
Other miscellaneous manufacturing
Wholesale Trade, Durable Goods
4231 Motor vehicles and motor vehicle
parts and supplies
4232 Furniture and home furnishing
4233 Lumber and other construction materials
4234 Professional and commercial
equipment and supplies
4235 Metal and mineral (except petroleum)
4236 Electrical and electronic goods
4237 Hardware, and plumbing and heating
equipment and supplies
4238 Machinery, equipment, and supplies
4239 Miscellaneous durable goods
Wholesale Trade, Nondurable Goods
4241 Paper and paper product
4242 Drugs and druggists’ sundries
4243 Apparel, piece goods, and notions
4244 Grocery and related product
4245 Farm product raw material
4246 Chemical and allied products
4247 Petroleum and petroleum products
4248 Beer, wine, and distilled alcoholic beverage
4249 Miscellaneous nondurable goods
Wholesale Trade, Electronic Markets and
Agents and Brokers
4251 Wholesale electronic markets and
agents and brokers
Retail Trade
4410 Motor vehicle and parts dealers
4420 Furniture and home furnishings
4431 Electronics and appliance
4440 Building material and garden
equipment and supplies dealers
4450 Food and beverage
4461 Health and personal care
4471 Gasoline stations
4480 Clothing and clothing accessories
4510 Sporting goods, hobby, book, and music
4520 General merchandise
4530 Miscellaneous store retailers
4540 Nonstore retailers
Transportation and Warehousing
4810 Air transportation
4821 Rail transportation
4833 Petroleum tanker operations
4839 Other water transportation
4840 Truck transportation
4850 Transit and ground passenger transportation
4863 Pipeline transportation of crude oil, refined
petroleum products, and natural gas
4868 Other pipeline transportation
4870 Scenic and sightseeing transportation
4880 Support activities for transportation
4920 Couriers and messengers
4932 Petroleum storage for hire
4939 Other warehousing and storage
Information
5111 Newspaper, periodical, book, and directory
publishers
5112 Software publishers
5121
5122
5151
5152
5171
5172
5174
5179
5182
5191
Motion picture and video industries
Sound recording industries
Radio and television broadcasting
Cable and other subscription programming
Wired telecommunications carriers
Wireless telecommunications carriers,
except satellite
Satellite telecommunications
Other telecommunications
Data processing, hosting, and related services
Other information services
Finance and Insurance
5221 Depository credit intermediation (Banking)
5223 Activities related to credit intermediation
5224 Nondepository credit intermediation
5229 Nondepository branches and agencies
5231 Securities and commodity contract
intermediation and brokerage
5238 Other financial investment activities and
exchanges
5242 Agencies, brokerages, and other insurance
related activities
5243 Insurance carriers, except life insurance carriers
5249 Life insurance carriers
5252 Funds, trusts, and other financial vehicles
Real Estate and Rental and Leasing
5310 Real estate
5321 Automotive equipment rental and leasing
5329 Other rental and leasing services
5331 Lessors of nonfinancial intangible assets,
except copyrighted works
Professional, Scientific, and Technical
Services
5411 Legal services
5412 Accounting, tax preparation, bookkeeping, and
payroll services
5413 Architectural, engineering, and related services
5414 Specialized design services
5415 Computer systems design and related services
5416 Management, scientific, and technical consulting
services
5417 Scientific research and development services
5418 Advertising, public relations, and related services
5419 Other professional, scientific, and technical
services
Management of Companies and Enterprises
5512 Holding companies, except bank holding
companies
5513 Corporate, subsidiary, and regional management
offices
Administrative and Support and Waste
Management and Remediation Services
5611 Office administrative services
5612 Facilities support services
5613 Employment services
5614 Business support services
5615 Travel arrangement and reservation services
5616 Investigation and security services
5617 Services to buildings and dwellings
5619 Other support services
5620 Waste management and remediation services
Educational Services
6110 Educational services
Health Care and Social Assistance
6210 Ambulatory health care services
6220 Hospitals
6230 Nursing and residential care facilities
6240 Social assistance
Arts, Entertainment, and Recreation
7110 Performing arts, spectator sports, and related
industries
7121 Museums, historical sites, and similar institutions
7130 Amusement, gambling, and recreation industries
Accommodation and Food Services
7210 Accommodation
7220 Food services and drinking places
Other Services
8110 Repair and maintenance
8120 Personal and laundry services
8130 Religious, grantmaking, civic, professional,
and similar organizations
Public Administration
9200 Public administration
Page 13
OMB No. 0608-0004: Approval Expires 1 1/30/2019
Affiliate ID
BE-577 Summary Form
2/16–5/15
5/16–8/15
Item
Data Item
Line
2
U.S. Reporter
003
4
Affiliate name
004
5
Country located
005
6
Incorp same ctry? Y/N
007
7
Industry: curr, revised
006
8
Status, date
008
9
How many consol?
010
10
Type of eqty int
011
11
FA parent
009
12A
Net income
101
12B1
Certain gains (losses)
111
12B2
Oth comp Inc
121
12C
Translation adj
131
13A
Dividends (gross)
141
13B
Dividend - fgn tax withheld
151
13C
Dividends (net)
161
14
Is affiliate a bank? Y/N
012
15
Is USR a bank? Y/N
16A
8/16–11/15
11/16–2/15
Col 1
Yes
Year
Col 3
Col 2
No
0
0
%
013
Yes
Yes
No
No
USR consol Ins RE Leas? Y/N
014
Yes
No
16B
USR consol banks? Y/N
015
Yes
No
17
U.S. rec: beg, end; Int receipts
221/222/171
18
U.S. pay: beg, end; Int payments 231/232/172
19A
Estab or acq
242
19A I
Exceeds book value
301
19A II
Less than book value
311
19B
Capital contribution
252
19C
Acq fm oth U.S. pers
262
20A
Liq or sale
272
20A I
Exceeds book value
302
20A II
Less than book value
312
20B
Ret of capital contrib
282
20C
Sale to oth U.S. pers
292
21
FYE
322
22
Direct own %
332
23
Annual net Inc (loss)
342
24
Gains/losses (annual)
343
25A
Total equity, inc
352
25B
Capital stock
362
25C
Retained earnings
372
25D
Translation adj
382
25E
Oth comp inc
392
26
Total equity, uninc
402
%
Note: The line items on this summary page have been abbreviated. For a full description please refer to the survey form.
Page 14
Summary Form, Page 1 of 1
FORM BE-577 (Rev. 2/2017)
OMB No. 0608-0004: Approval Expires 1 1/30/2019
BE-577 Claim for
Exemption
Affiliate ID
2/16–5/15
5/16–8/15
Item
Data Item
Line
2
U.S. Reporter
003
4
Affiliate name
004
5
Country located Incorp
005
6
same ctry? Y/N
007
7
Industry: curr, revised
006
8
Status, date
008
27
Exempt reason
27A
FYE
480
502
Total assets
481
Annual sales
491
Annual net income
501
27B
Indir exempt - FP
009
27C
Private fund - FP
009
8/16–11/15
11/16–2/15
Col 1
Year
Col 2
Yes
No
0
A
B
C
Note: The line items on this summary page have been abbreviated. For a full description please refer to the survey form.
FORM BE-577 (Rev. 2/2017)
Claim for Exemption, Page 1 of 1
Page 15
| File Type | application/pdf |
| File Title | be577_p1_p12.g |
| File Modified | 2017-03-06 |
| File Created | 2013-03-01 |