Be-15c

Annual Survey of Foreign Direct Investment in the United States

be-15c

Annual Survey of Foreign Direct Investment in the United States

OMB: 0608-0034

⚠️ Notice: This form may be outdated. More recent filings and information on OMB 0608-0034 can be found here:

Document [pdf]

Download: pdf | pdf

FORM BE-15C (REV 12/2016)

OMB No. 0608-0034: Approval Expires 11/30/2018
BEA-12
IdentificationNumber
Number
BE-15 Identification

2016 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT
IN THE UNITED STATES
FORM BE–15C
Name and address of U.S. business enterprise

Due date: May 31, 2017
Electronic filing: www.bea.gov/efile
Mail reports to:
U.S. Department of Commerce
Bureau of Economic Analysis
Direct Investment Division, BE–49(A)
4600 Silver Hill Rd
Washington, DC 20233
Deliver reports to: U.S. Department of Commerce
Bureau of Economic Analysis
Direct Investment Division, BE–49(A)
4600 Silver Hill Rd
Suitland, MD 20746
Fax reports to:
(301) 278–9500
Assistance:

1002

Name of U.S. affiliate

1010

c/o (care of)

1003

Street or P.O. Box

1004

1005

City

0998

ZIP Code

Foreign Postal Code

State

E-mail: be12/[email protected]
Telephone: (301) 278-9247
Copies of blank forms: www.bea.gov/fdi

Include your BE–15 Identification Number with all requests.
Have you been notified that you must file a BE-15 Survey?
If so, you must file a BE-15A, BE-15B, BE-15C, or BE-15 Claim for Exemption by the due date.
Who must file BE–15C:
Those U.S. affiliates with any one of the following items exceeding $40 million, but with all items not exceeding $120 million (positive or negative):
• Total assets
• Sales or gross operating revenues
• Net income
If you do not meet the filing criteria, see instruction I.A.1 on page 12 to determine which form to file.
Certain private funds may be exempt from filing. See item 2(e) of the BE-15 Claim for Exemption for more information.

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 11 for more details.

CONTACT INFORMATION

CERTIFICATION

Provide information of person to consult about this report:
Name

The undersigned official certifies that this report has been prepared
in accordance with the applicable instructions, is complete, and is
substantially accurate including estimates that may have been provided.

Street 1

Signature of Authorized Official

Street 2

Name

0
1000
0

Date
0

1029
0

1030

0990

City

State

Zip

Title
0
0991

1031

Telephone Number
0
1001

(—

—

—)

— — — - — — — —

—

—)

— — — - — — — —

Fax Number
0
0999

(—

E-mail Address

Extension

Telephone Number

0
0992

—

(—

— —) — — — - — — — —

Fax Number
0
0993

—)

— — — - — — — —

(—

Extension
0

0
1028

NOTE: BEA uses a Secure Messaging System to correspond with you via encrypted message to discuss questions relating to this form. We may use
your e-mail address for survey-related announcements and to inform you about secure messages. When communicating with BEA by e-mail, please do
not include any confidential business or personal information.

Part I - Identification of U.S. Affiliate
IMPORTANT
Review the instructions starting on page 11 before completing this form. Insurance and real estate companies see special instructions
on page 16.
• 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 Accounting
Standards Codification Topics are referred to as “FASB ASC”.
• U.S. affiliate’s 2016 fiscal year — The affiliate’s financial reporting year that had an ending date in calendar year 2016.
• Consolidated reporting — A U.S. affiliate must file on a fully consolidated domestic U.S. basis, including in the consolidation ALL
U.S. business enterprises proceeding down each ownership chain whose voting securities are more than 50 percent owned by the
U.S. business enterprise above. The consolidation rules are found in instruction IV.2 on page 14.
$ Bil.
• Rounding — Report currency amounts in U.S. dollars rounded to thousands (omitting 000).
Do not enter amounts in the shaded portions of each item.
Example — If amount is $1,334,891.00 report as:.................................................................................................

Mil.

Thous.

Dols.

335

000

1 Which financial reporting standards will you use to complete this BE–15 report?
NOTE — The BE-15 report should be completed using U.S. Generally Accepted Accounting Principles (U.S. GAAP). If using U.S.
GAAP to complete this report is highly burdensome, or otherwise not feasible, you may use other financial reporting standards,
preferably with adjustments to correct for any material differences between U.S. GAAP and the reporting standards used.
1399 1
1

U.S. Generally Accepted Accounting Principles

International Financial Reporting Standards (as promulgated by, or adapted from, the International Accounting Standards Board)
NOTE — Do not prepare your BE–15 report using the proportionate consolidation method.

Other reporting standards — Specify the reporting standards used

2 Is more than 50 percent of the voting interest in this U.S. business enterprise owned by another U.S. affiliate of the foreign
parent (see the diagram below)?
1400 1

1 2

Yes

If “Yes” — Do not complete this report unless exception 2c. described in the consolidation rules on page 14 applies.
If this exception does not apply, 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 page 14.

CONSOLIDATION OF U.S. AFFILIATES

Foreign parent

Foreign

10 to 100 percent

United States
U.S. business enterprise A
U.S. business enterprise B should be
consolidated on the BE–15 report for U.S.
business enterprise A because U.S. business
enterprise B is more than 50 percent owned by
U.S. business enterprise A.

> 50 percent

U.S. business enterprise B

3 Enter Employer Identification Number(s) used by the U.S. affiliate to file income and payroll taxes.
Other
Primary
1006 1
2
Electronic filers do not need to report more than two IDs. Enter the IDs
–
–
without hyphens. For example, if your ID is 12-3456789, you would
enter 123456789.
Note that the leading zero in an Employee Identification Number won't
appear on a printout of this report after submission to BEA.
However, the EIN (including the 0) will be correctly transmitted to BEA.

FORM BE-15C (REV 12/2016)

Page 2

Part I - Identification of U.S. Affiliate – Continued
4 Reporting Period — Reporting period instructions are found in instruction for item 4 on page 14. If there was
a change in fiscal year, review instruction 4.b. on page 14.
This U.S. affiliate’s fiscal year ended in calendar year 2016 on......................................................................

1007

Month

MM/DD/YYYY
Day
Year

__ __ / __ __ /

2 0 1 6

Example — If the fiscal reporting year ended on March 31, report for the 12-month period ended March 31, 2016.
NOTE — Affiliates with a fiscal year that ended within the first week of January 2017 are considered to have a 2016 fiscal year
and should report December 31, 2016 as their 2016 fiscal year end.
5 Did the U.S. business enterprise become a U.S. affiliate during its fiscal year that ended in calendar
year 2016?
1008 1

1 2

Yes

If “Yes” — Enter the date the U.S. business enterprise became a U.S. affiliate and see
instruction for item 5 on page 14 to determine how to report for the first time........................

Month

MM/DD/YYYY
Day
Year

1
1009

__ __ / __ __ / __ __ __ __

NOTE — For a U.S. business enterprise that became a U.S. affiliate during its fiscal year that ended in
calendar year 2016, leave the close FY 2015 data columns blank.
6 U.S. business enterprises fully consolidated in this report — U.S. business enterprises that are more than 50-percent owned based
on voting interest should be fully consolidated in this report, except as noted in the consolidation rules starting on page 14. Banks, see
instruction I.C. on page 13 for aggregated reporting rules.
Enter the number of U.S. business enterprises consolidated in this report in the box below. Hereinafter they are considered to be one
U.S. affiliate. If the report is for a single U.S. business enterprise, enter “1” in the box below. Exclude from the consolidation all foreign
business enterprises or operations owned by this U.S. affiliate.
1012

If the number is greater than one, complete the Supplement A on page 8.

7 U.S. affiliates NOT fully consolidated — See instruction for item 7 starting on page 14.
Number of U.S. affiliates, in which this U.S. affiliate has an ownership interest, that are NOT fully consolidated in this report.
1013

If number is not zero, complete the Supplement B on page 9.
The U.S. affiliate named on page 1 must include data for unconsolidated U.S. affiliates on an equity basis or, if less than
20 percent owned, in accordance with FASB ASC 320 (formerly FAS 115) or the cost method of accounting. The U.S.
affiliate named on page 1 also must notify the unconsolidated U.S. affiliates of their obligation to file a BE-15 in their own
names (see page 12 to determine the appropriate form for these affiliates to file).

FORM BE-15C (REV 12/2016)

Page 3

Part I - Identification of U.S. Affiliate – Continued
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 8.a(1) on page 15.
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 or government. For individuals, see instruction 8.b on page 15.
Voting interest

Country of
foreign parent

Name of each direct owner

Close FY 2016

Close FY 2015

(1)

(2)

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 and the country of the foreign parent—if more than 2, continue on separate sheet.
1

--Select Country--

1017

--Select Country--

1018

___

_ % 2_ _ _

3
3

Ownership held directly by all U.S. affiliates of the foreign parent(s) — 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

--Select Country--

1063

--Select Country--

1064

1
1

12 Direct ownership held by all other persons or entities (do not list names)...............................

1061

___

_% _ _ _

___

TOTAL — Sum of items 8 through 12 ........................................................................................

___

_% _ _ _

100.0%

2
2

3
3

100.0%

EXAMPLES OF DIRECT AND INDIRECT FOREIGN OWNERSHIP
Example 1 – Ownership held directly by a foreign parent

Example 2 – Ownership held directly by all
U.S. affiliates of the foreign parent(s)

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 parent

10 to 100 percent

Foreign company Y
(foreign parent)

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

FORM BE-15C (REV 12/2016)

Page 4

U.S. affiliate B

Direct Foreign Parent Ownership – Continued
Use only if you need to enter more owners in item 8 on the previous page.
Ownership held directly by foreign parent(s) of this U.S.
affiliate – Give name of each foreign parent with direct
ownership.

Reporting Period
Voting Interest
Equity Interest
Close FY Close FY Close FY Close FY
2016
2015
2016
2015

--Select Country--

Indirect Foreign Parent Ownership – Continued
Use only if you need to enter more owners in item 10 on the previous page.
Ownership held indirectly by foreign parent(s) of this U.S.
affiliate through another U.S. affiliate – Give name of each
foreign parent with indirect ownership.

Reporting Period
Voting Interest
Equity Interest
Close FY Close FY Close FY Close FY
2016
2015
2016
2015

--Select Country--

Part I - Identification of U.S. Affiliate – Continued
13 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.
13a Enter name of foreign parent. If the foreign parent is an individual enter “individual.”
3011 0

13b Enter the industry code of the foreign parent from the list of codes on page 6 that best describes the PRIMARY activity of the
SINGLE entity named as the foreign parent. DO NOT base the code on the worldwide sales of all consolidated subsidiaries of the
foreign parent. If the foreign parent is an individual, enter code “05.”
3018 1

Ownership Type:

--Select Industry--

Indirect

Direct

14 For each foreign parent, furnish the name, country and industry code of the ultimate beneficial owner (UBO) – see examples on page 6. 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.

The UBO 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 or entity. Note: Stockholders of a closely or privately held corporation are normally
considered to be an associated group and may be a UBO.
14a Is the foreign parent also the UBO? If the foreign parent is owned or controlled more than 50 percent by another person or entity, then
the foreign parent is NOT the UBO.
3019 1

1
2

Yes (example 1 on page 6) – Skip to 14d .
No (examples 2A and 2B on page 6) – Continue with 14b .

14b Enter the name of the UBO of the foreign parent. If the UBO is an individual, or an associated group of individuals, enter “individual.”
See instruction II.D. on page 13 for the definition of associated group. Identifying the UBO as “bearer shares” is not an acceptable response.
3021 0

14c Enter country in which the UBO is incorporated or organized, if a business enterprise, or is resident, if an
individual or government. For individuals, see instruction 8.b. on page 15.

BEA USE ONLY
3022

--Select Country- 14d Enter the industry code of the UBO from the list of codes on page 6. Select the industry code that best reflects
the consolidated worldwide sales of the UBO, including all of its majority-owned subsidiaries.
3023 1

(Do not use code 14 for the UBO)

--Select Industry-
15 Intentionally left blank

BEA USE ONLY
1200

1201

1202

1203

FORM BE-15C (REV 12/2016)

Page 5

Part I - Identification of U.S. Affiliate – Continued
EXAMPLES OF THE ULTIMATE BENEFICIAL OWNER (UBO)
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 Percent

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 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.

Foreign company X
(UBO)
>50 Percent

Foreign company Z
(Foreign parent)

Foreign company Y
(Foreign parent)

Foreign

>50 Percent

Foreign

United States

United States
U.S. affiliate

U.S. company C
(UBO)

U.S. affiliate

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, 2012.
See the Summary of Industry Classifications on page 10.
01 Government and government-owned or
-sponsored enterprise, or quasi-government
organization or agency

17 Information (ISI codes 5111–5191)

02 Pension fund — Government run

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

18 Professional, scientific, and technical services
(ISI codes 5411–5419)

03 Pension fund — Privately run

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

04 Estate, trust, or nonprofit organization
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)

25 Primary and fabricated metal products
(ISI codes 3311–3329)

24 Nonmetallic mineral products (ISI codes 3271–3279)

09 Construction (ISI codes 2360–2380)
10 Transportation and warehousing (ISI codes 4810–4939)

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

11 Utilities (ISI codes 2211–2213)

27 Machinery (ISI codes 3331–3339)

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

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

13 Banking, including bank holding companies
(ISI codes 5221 and 5229)

29 Motor vehicles and parts (ISI codes 3361–3363)
30 Other transportation equipment (ISI codes 3364–3369)

14 Holding companies, excluding bank holding
companies (ISI codes 5512 and 5513)

31 Other manufacturing (ISI codes 3130–3231, 3261, 3262,
3370–3399)

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)

32 Petroleum manufacturing, including integrated petroleum
and petroleum refining without extraction (ISI codes
3242–3244)

16 Real estate (ISI code 5310)

FORM BE-15C (REV 12/2016)

Page 6

Part II - Financial and Operating Data of U.S. Affiliate
16 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, “manufactured widgets.”)

1163

17 Industry of this affiliate – Enter the 4-digit International Surveys Industry (ISI) code of the industry
in which the U.S. affiliate had the largest sales or gross operating revenues.
See the Summary of Industry Classifications on page 10; for a full explanation of each code see the Guide
to Industry Classifications for International Surveys, 2012 located at www.bea.gov/naics2012......................... 1164

ISI Code
1

--Select ISI CODE--

18 Sales or gross operating revenues, excluding sales taxes – Report gross sales minus returns, allowances,
and discounts. Exclude sales or consumption taxes levied directly on the consumer and excise taxes levied
$ Bil.
Mil.
Thous. Dols.
directly on manufacturers, wholesalers, and retailers. Include revenues generated during the year from the
1
OPERATIONS of a discontinued business segment, but exclude gains or losses from DISPOSALS
of discontinued operations.....................................................................................................................................
2149
000

NOTE - Holding Companies (ISI code 5512) should report total income in this item including income (loss) from equity
investments in unconsolidated U.S. and foreign entities, other income, plus sales and gross operating revenues, if any.
Zero normally is NOT a correct entry for this item.

BALANCE SHEET
NOTE – Foreign operations of the U.S. affiliate, including those in which it has a majority interest, are to be unconsolidated. Include all
unconsolidated foreign operations using the equity method.
Close FY 2016

$ Bil.
Mil.
Thous. Dols.
1

19 Total assets........................................ 2109

000

20 Total liabilities.................................... 2114

000

Check box if total liabilities are zero.

INCOME AND EMPLOYMENT

$ Bil.

Mil.

Thous. Dols.

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

000

2159

Number of employees
3

22 Number of employees at close of FY 2016 – See instructions for item 22 on page 15 for information

on reporting employment (including how to report when employment is subject to unusual variations) .................... 2700

$ Bil.

Mil.

Thous. Dols.

23 Employee compensation – Employee compensation is defined in instruction 23 on page 15...............................

000

2253
1

24 Gross book value of all land and other property, plant, and equipment, at the close of FY 2016...................

2397

25 Research and development (R&D) expenditures for R&D performed BY the U.S. affiliate – R&D is defined
in instruction 25 on page 15...................................................................................................................................... 2403

000
1

000
BEA USE ONLY
1

1299

FORM BE-15C (REV 12/2016)

Page 7

OMB No. 0608-0034: Approval Expires 11/30/2018

FORM BE-15C (REV 12/2016)

BE-15 Supplement A (2016)

FORM
(REV. 12/2016)

U.S. DEPARTMENT OF COMMERCE
BUREAU OF ECONOMIC ANALYSIS

LIST OF ALL U.S. BUSINESS ENTERPRISES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE
NOTE – If you filed a Supplement A or a computer printout of Supplement A with your 2015 BE-15 report, in lieu of completing a new
Supplement A, you may substitute a copy of that Supplement A or computer printout that has been updated to show any
additions, deletions, or other changes.
Supplement A must be completed by a reporting affiliate that consolidates financial and operating data of any other U.S. business
enterprises. The number of U.S. business enterprises listed below plus the reporting U.S. business enterprise must agree with item 6
on page 3. Continue listing onto as many additional copied pages as necessary.
If the affiliate has
changed since the last
Name of each U.S. business enterprise consolidated
report, please select
(as represented in item 6 on page 3)
the reason. If it is new,
please select "New".

5112
5113
5114
5115
5116
5117
Page 8

5118
5119
5120
5121
5122
5123
5124
5125
5126
5127
5128
5129
5130
5131
5132

Primary Employer Identification Number as
shown in item 3 on page 2.

5110

–
Percent of direct voting ownership

Name of U.S. business enterprise which holds
that the entity named in column 3 holds
the direct ownership interest in the U.S. affiliate
in the entity named in column 1.
listed in column 1
– Enter percent to nearest tenth.
(4)

(3)

(2)

Page number

Name of U.S. affiliate as shown on page 1

Employer Identification Number
used to file income and
payroll taxes

(1)

5111

BEA USE ONLY

–

5
5

--Select Reason---Select Reason---Select Reason--

--Select Reason--

--Select Reason---Select Reason--

--Select Reason---Select Reason---Select Reason--

--Select Reason---Select Reason---Select Reason---Select Reason---Select Reason--

--Select Reason--

. %
. %

. %
. %
. %

. %
. %
. %
. %
. %
. %
. %

–

5133 --Select

Reason--

–

. %

--Select Reason--

. %

--Select Reason--

. %
. %

--Select Reason--

. %

. %
. %
. %
. %

OMB No. 0608-0034: Approval Expires 11/30/2018

FORM BE-15C (REV 12/2016)

BE-15 Supplement B (2016)

U.S. DEPARTMENT OF COMMERCE

FORM
(REV. 12/2016)

BUREAU OF ECONOMIC ANALYSIS

LIST OF ALL U.S. AFFILIATES IN WHICH THE REPORTING AFFILIATE (AS CONSOLIDATED) HAS A DIRECT
OWNERSHIP INTEREST BUT WHICH ARE NOT FULLY CONSOLIDATED

BEA USE ONLY

Page number

Name of U.S. affiliate as shown on page 1

NOTE – If you filed a Supplement B or a computer printout of Supplement B with your 2015 BE-15 report, in lieu of completing a
new Supplement B, you may substitute a copy of that Supplement B or computer printout that has been updated to
show any additions, deletions, or other changes.
Supplement B must be completed by a reporting affiliate which files a BE-15C and has a direct ownership interest in a U.S. affiliate(s) which
is (are) not fully consolidated. The number of U.S. affiliates listed below must agree with item 7 on page 3. Continue listing onto as many
additional copied pages as necessary.

If the affiliate has
changed since the last
BEAplease
USE ONLY
report,
select
the reason. If it is new,
please select "New".

Name of each U.S. affiliate in which a direct
interest is held but that is not listed in
Supplement A
(1)

Employer Identification Number
used to file income and
payroll taxes

Address
Provide number, street, city, state,
and ZIP Code
(2)

Percent of direct voting ownership
interest that the fully consolidated
U.S. business enterprise named
on page 1, holds in the entity
named in column 1.
– Enter percent to nearest tenth.

(4)

(5)
6

--Select Reason-–

6211
1

--Select Reason-–

6212
1

--Select Reason-–

6213
Page 9

--Select Reason-–

6214
1

--Select Reason-–

6215
1

--Select Reason-–

6216
1

--Select Reason-–

6217
1

--Select Reason-–

6218
1

--Select Reason-–

6219
1

--Select Reason-–

6220
1

--Select Reason-6221

–

Go to the submission page

Summary of Industry Classifications–For a full explanation of each code see www.bea.gov/naics2012
Agriculture, Forestry, Fishing, and Hunting
1110
1120
1130
1140
1150

Crop production
Animal production and aquaculture
Forestry and logging
Fishing, hunting, and trapping
Support activities for agriculture and forestry

Mining
2111
2121
2123
2124
2125
2126
2127
2132
2133

Oil and gas extraction
Coal
Nonmetallic minerals
Iron ores
Gold and silver ores
Copper, nickel, lead, and zinc ores
Other metal ores
Support activities for oil and gas operations
Support activities for mining, except
for oil and gas operations

Utilities
2211

2212
2213

Electric power generation,
transmission, and distribution
Natural gas distribution
Water, sewage, and other systems

Construction
2360 Construction of buildings
2370 Heavy and civil engineering construction
2380 Specialty trade contractors

Manufacturing
3111
3112
3113
3114

3115
3116
3117
3118
3119
3121
3122
3130
3140
3150
3160
3210
3221
3222
3231
3242
3243
3244

3251
3252

3253

3254
3255
3256

3259
3261
3262
3271
3272
3273
3274
3279
3311
3312
3313

3314

3315
3321
3322
3323
3324
3325
3326
3327

3328

3329
3331
3332
3333

Animal foods
Grain and oilseed milling
Sugar and confectionery products
Fruit and vegetable preserving and
specialty foods
Dairy products
Meat products
Seafood product preparation and packaging
Bakeries and tortillas
Other food products
Beverages
Tobacco
Textile mills
Textile product mills
Apparel
Leather and allied products
Wood products
Pulp, paper, and paperboard mills
Converted paper products
Printing and related support activities
Integrated petroleum refining and extraction
Petroleum refining without extraction
Asphalt and other petroleum and
coal products
Basic chemicals
Resins, synthetic rubbers, and artificial
and synthetic fibers and filaments
Pesticides, fertilizers, and other
agricultural chemicals
Pharmaceuticals and medicines
Paints, coatings, and adhesives
Soap, cleaning compounds, and
toilet preparations
Other chemical products and preparations
Plastics products
Rubber products
Clay products and refractories
Glass and glass products
Cement and concrete products
Lime and gypsum products
Other nonmetallic mineral products
Iron and steel mills and ferroalloys
Steel products from purchased steel
Alumina and aluminum production
and processing
Nonferrous metal (except aluminum)
production and processing
Foundries
Forging and stamping
Cutlery and handtools
Architectural and structural metals
Boilers, tanks, and shipping containers
Hardware
Spring and wire products
Machine shops; turned products; and
screws, nuts, and bolts
Coating, engraving, heat treating,
and allied activities
Other fabricated metal products
Agriculture, construction, and mining machinery
Industrial machinery
Commercial and service industry machinery

FORM BE-15C (REV 12/2016)

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

4232
4233
4234

4235
4236

4237

4238
4239

Motor vehicles and motor vehicle
parts and supplies
Furniture and home furnishing
Lumber and other construction materials
Professional and commercial
equipment and supplies
Metal and mineral (except petroleum)
Household appliances and electrical
and electronic goods
Hardware, and plumbing and heating
equipment and supplies
Machinery, equipment, and supplies
Miscellaneous durable goods

Wholesale Trade, Non-Durable Goods
4241
4242
4243
4244
4245
4246
4247
4248
4249

Paper and paper product
Drugs and druggists’ sundries
Apparel, piece goods, and notions
Grocery and related product
Farm product raw material
Chemical and allied products
Petroleum and petroleum products
Beer, wine, and distilled alcoholic beverage
Miscellaneous nondurable goods

Wholesale Trade, Electronic Markets
and Agents And Brokers
4251 Wholesale electronic markets and

agents and brokers

Retail Trade
4410
4420
4431
4440

4450
4461
4471
4480
4510
4520
4530
4540

Motor vehicle and parts dealers
Furniture and home furnishings
Electronics and appliance
Building material and garden equipment
and supplies dealers
Food and beverage
Health and personal care
Gasoline stations
Clothing and clothing accessories
Sporting goods, hobby, book, and music
General merchandise
Miscellaneous store retailers
Non-store retailers

Transportation and Warehousing
4810
4821
4833
4839
4840
4850
4863

4868
4870
4880
4920
4932
4939

Air transportation
Rail transportation
Petroleum tanker operations
Other water transportation
Truck transportation
Transit and ground passenger transportation
Pipeline transportation of crude oil,
refined petroleum products, and natural gas
Other pipeline transportation
Scenic and sightseeing transportation
Support activities for transportation
Couriers and messengers
Petroleum storage for hire
Other warehousing and storage

Information
5111

5112
5121
5122
5151

Newspaper, periodical, book, and
directory publishers
Software publishers
Motion picture and video industries
Sound recording industries
Radio and television broadcasting
Page 10

5152
5171
5172

5174
5179
5182
5191

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 contracts

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 finance vehicles

Real Estate and Rental and Leasing
5310
5321
5329
5331

Real estate
Automotive equipment rental and leasing
Other rental and leasing services
Lessors of nonfinancial intangible assets,
except copyrighted works

Professional, Scientific, and Technical
Services
5411
5412

5413
5414
5415
5416

5417
5418
5419

Legal services
Accounting, tax preparation, bookkeeping,
and payroll services
Architectural, engineering, and related services
Specialized design services
Computer systems design and related services
Management, scientific, and technical
consulting services
Scientific research and development services
Advertising, public relations, and related services
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, Waste
Management, and Remediation Services
5611
5612
5613
5614
5615
5616
5617
5619
5620

Office administrative services
Facilities support services
Employment services
Business support services
Travel arrangement and reservation services
Investigation and security services
Services to buildings and dwellings
Other support services
Waste management and remediation services

Educational Services
6110 Educational services

Health Care and Social Assistance
6210
6220
6230
6240

Ambulatory health care services
Hospitals
Nursing and residential care facilities
Social assistance services

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
8120
8130

Repair and maintenance
Personal and laundry services
Religious, grantmaking, civic, professional,
and similar organizations

Public Administration
9200 Public administration

2016 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES
BE-15C INSTRUCTIONS
NOTE: Instructions in section IV are cross-referenced by number to the items located on pages 2 to 9.

Authority – This survey is being conducted pursuant to the
International Investment and Trade in Services Survey Act (P.L. 94472., 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 (in the broad sense, including
companies) subject to the reporting requirements of the BE-15 survey.
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 801.3 of 15 CFR, pt. 801 and the
survey instructions. This may be accomplished by completing and
submitting Form BE-15A, BE-15B, BE-15C, or the BE-15 Claim For
Exemption, whichever is applicable, by May 31, 2017.

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.
Foreign
U.S.

Respondent Burden – Public reporting burden for this BE-15C
form is estimated to vary from 1 to 3 hours per response, with
an average of 1.75 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, 4600 Silver Hill Road,
Washington, DC 20233; and to the Office of Management and Budget,
Paperwork Reduction Project 0608-0042, 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
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 2016.

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.
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.

FORM BE-15C (REV 12/2016)

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

Penalties – Whoever fails to report shall be subject to a civil penalty
of not less than $4,454, and not more than $44,539, 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.

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

A report is required even if the foreign person’s voting interest in
the U.S. business enterprise was 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.
Agencies and representative offices – U.S. representative
offices, agents and employees of a foreign person or entity that meet
the criteria outlined below are not considered to be U.S. affiliates, and
therefore, they should not be reported on Forms BE-15A, BE-15B,
or BE-15C. However, a foreign person’s or entity’s disbursements to
maintain U.S. sales and representative offices must be reported on
Form BE-125, Quarterly Survey of Transactions in Selected Services
and Intangible Assets with Foreign Persons. Copies of Form BE-125
are available on BEA's Web site at:
www.bea.gov/surveys/iussurv.htm
A U.S. presence of a foreign person or entity (or their representative(s))
is considered a U.S. sales promotion or representative office if:
1. It is engaged only in sales promotion, representational activities,
public relations activities, or the gathering of market information, on
behalf of the foreign person or entity;
2. It does not produce revenue (other than funds from the foreign
person or entity to cover its expenses); and
3. It has minimal assets held either in its own name or the name of
the foreign person or entity.
A U.S. presence of a foreign person or entity (or their
representative(s)) that produces revenue for its own account from
goods or services it provides to others is considered a U.S. affiliate
and is subject to the BE-15 reporting requirements.

Page 11

I. REPORTING REQUIREMENTS – Continued

Which 2016 BE-15 Form to File?

1. Which form to file – Review the questions below and the flow chart
on this page to determine if your U.S. business is required to file the
BE-15 survey. Blank forms can be found at: www.bea.gov/fdi

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

a. Were at least 10 percent of the voting rights in your business
enterprise directly or indirectly owned by a foreign person or entity
at the end of your fiscal year that ended in calendar year 2016?

Yes

More than 50 percent of the voting rights owned by
another U.S. affiliate at end of the fiscal year ending in
calendar year 2016?

¨ Yes — Continue with question b.
¨ No — File Form BE-15 Claim for Exemption by May 31, 2017.
b. Were more than 50 percent of the voting rights in this U.S. business
enterprise owned by another U.S. affiliate at the end of this U.S.
business enterprise’s fiscal year that ended in calendar year 2016?

Yes

hereafter referred to as a “U.S. affiliate.”

c. Do different foreign persons hold a direct and an indirect
ownership interest in this U.S. business enterprise (exception c
to the consolidation rules)? (The consolidation rules are found in
instruction IV.2. on page 14.)

Yes

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 Form BE-15
Claim for Exemption.

¨ Yes — Continue with question d. NOTE: Your business is

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. on page 14)?

¨ Yes — Continue with question c.
¨ No — Skip to question d. NOTE: Your business is

File Form BE-15
Claim for Exemption

hereafter referred to as a “U.S. affiliate.”

¨ No — This U.S. business enterprise must be consolidated on

the BE-15 report of the U.S. affiliate that owns it more than
50 percent. File Form BE-15 Claim for Exemption with page 1
and item (d) on page 3 completed by May 31, 2017.
Notify the U.S. affiliate that owns this affiliate more than 50
percent, and have them consolidate your data into their report.

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

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 2016?

Yes

¨ Yes — Continue with question e.
¨ No — File Form BE-15 Claim for Exemption by May 31, 2017.

File Form BE-15 Claim
for Exemption

Assets, sales, or net income (loss) greater
than $120 million (positive or negative)?

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 2016?

Yes

¨ Yes — Continue with question f.
¨ No — File Form BE-15C by May 31, 2017.

File Form
BE-15C

f. Was the U.S. affiliate majority-owned by its foreign parent(s)
at the end of its fiscal year that ended in calendar year 2016? (A
U.S. affiliate is “majority-owned” if the combined direct and indirect
ownership interests of all foreign parents of the U.S. affiliate
exceed 50 percent.)

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

¨ Yes — Continue with question g.
¨ No — File Form BE-15B by May 31, 2017.
g. 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 $300 million at the end of, or for, its
fiscal year that ended in calendar year 2016?

Assets, sales, or net
income (loss) greater
than $300 million
(positive or negative)?

File Form
BE-15B

Yes
File Form
BE-15A

¨ Yes — File Form BE-15A by May 31, 2017.
¨ No — File Form BE-15B by May 31, 2017.

FORM BE-15C (REV 12/2016)

Yes

No
File Form
BE-15B

NOTE: Certain private funds may be exempt from filing.
See www.bea.gov/surveys/privatefunds for more information.

Page 12

I. REPORTING REQUIREMENTS – Continued
2. Who must file Form BE-15C – 2016 Annual Survey of
Foreign Direct Investment in the United States?
Form BE-15C 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, 2016; OR
(b) the affiliate has been instructed in writing by BEA to file a
BE-15 for the fiscal year that ended in calendar year 2016.
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 16.
C. Aggregated reporting for banks – All U.S. branches and
agencies (including International Banking Facilities) directly owned
by a foreign bank may be aggregated on a single BE-15.
U.S. branches and agencies, directly owned by the foreign parent,
that are aggregated on this report should be counted separately
and listed separately on the Supplement A to this form. See
Example A below.
U.S. branches and agencies, owned by a U.S. bank affiliate, should
be consolidated on this report but not counted separately and not
listed separately on the Supplement A to this form. See Example B
below.
Note that subsequent filings of form BE-15 annual reports and
Form BE-605 quarterly reports with BEA, if required, must be on
the same aggregated basis. If all U.S. branches and agencies
directly owned by a foreign bank are not aggregated on a single
report, then each branch or agency must file a separate BE-15.

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.
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.

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.

Foreign parent
bank A

J. Affiliate means a business enterprise located in one country that
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.

U.S.
Miami
branch
Los Angeles
branch

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).

H. Business enterprise means any organization, association,
branch, or venture that exists for profit-making purposes or to
otherwise secure economic advantage, and any ownership of any
real estate.

Example A

Foreign

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.

New York City
branch

K. U.S. affiliate means an affiliate located in the United States in
which a foreign person has a direct investment.

Data for all three branches (Miami, Los Angeles, and New
York City) owned by Foreign parent bank A may be aggregated
on a single BE-15. If aggregated, list all three branches on
the Supplement A. Report “3” as the number of U.S. branches
aggregated for item 6 on page 3.

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.

Example B

L. Foreign parent is a foreign person that directly or indirectly holds
a voting interest of 10 percent or more in the U.S. affiliate. It is 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.

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.

Foreign parent
Foreign
U.S.

U.S. bank B

M. U.S. corporation means a business enterprise incorporated in
the United States.

Branch 3

Branch 1

N. Intermediary means any agent, nominee, manager, custodian,
trust, or any person acting in a similar capacity.

Branch 2

O. Ultimate beneficial owner (UBO) 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.

Consolidate data for each branch (branch 1, branch 2, and
branch 3) and U.S. bank B on a single BE-15. DO NOT list
them on the Supplement A. Report “1” as number of U.S.
affiliates consolidated for item 6 on page 3.
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.

FORM BE-15C (REV 12/2016)

Page 13

P. Private Fund refers to the same class of financial entities that
must report to 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."

III. GENERAL INSTRUCTIONS
A.

Required information not available – Make all reasonable
efforts to obtain the information required for reporting. Answer
every item except where specifically exempt. Indicate when only
partial information is available.

B. Estimates – If actual figures are not available, 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-15C 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 judgment 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
NOTE: Instructions in section IV are cross-referenced by number to

the items located on pages 2 to 9.

Foreign person A
100%

U.S.
30%

U.S. affiliate X
60%
U.S. affiliate Y

U.S. affiliate Y should 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 2016
fiscal year. The affiliate’s 2016 fiscal year is defined as the affiliate’s
financial reporting year that had an ending date in calendar year
2016.
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 2016.

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
proceeding down each ownership chain whose voting securities
are more than 50 percent owned by the U.S. business enterprise
above. 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 16 for details.
Do not prepare your BE-15 report using the proportionate
consolidation method. Except as noted in IV.2.b. and c. below,
consolidate all majority-owned U.S. business enterprises into your
BE-15 report.
Exceptions to the consolidation rules are detailed
in the next paragraph. Other exceptions are not
permitted except in rare circumstances. Contact
BEA if you need to discuss such a request. If you file
deconsolidated reports, you must file the same type of reports
(BE-15A, BE-15B or BE-15C) that would have been required if a
consolidated report was filed. Report majority-owned subsidiaries,
if not consolidated, using the equity method of accounting. DO
NOT eliminate intercompany accounts (e.g., receivables or
liabilities) for affiliates not consolidated.
Exceptions to consolidated reporting – Note: If a U.S.
business enterprise is not consolidated into another U.S. affiliate’s
BE-15 report, then it must be listed on the Supplement B of the
other U.S. affiliate’s BE-15 report 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 the equity method.
DO NOT report employment, land, and other property, plant,
and equipment and DO NOT eliminate intercompany accounts
for holdings reported using the equity method. DO NOT list any
foreign holdings of the U.S. affiliate on the Supplement B.
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 BEA's Web site at:
www.bea.gov/ltdpartner15
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.)

FORM BE-15C (REV 12/2016)

Foreign person B
Foreign

Page 14

b. Change in fiscal year
(1) New fiscal year ends in calendar year 2016 – A U.S.
affiliate that changed the ending date of its financial reporting
year should file a 2016 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, 2015 fiscal year end
date but changed its 2016 fiscal year end date to March 31.
Affiliate A should file a 2016 BE-15 report covering the 12-month
period from April 1, 2015 to March 31, 2016.
(2) No fiscal year ending in calendar year 2016 – If a
change in fiscal year results in a U.S. affiliate not having a fiscal
year that ended in calendar year 2016, the affiliate should
file a 2016 BE-15 report that covers 12 months. The
following example illustrates the reporting requirements.
Example 2: U.S. affiliate B had a December 31, 2015 fiscal
year end date but changed its next fiscal year end date to March
31. Instead of having a short fiscal year ending in 2016, affiliate
B decides to have a 15-month fiscal year running from January
1, 2016 to March 31, 2017. Affiliate B should file a 2016 BE-15
report covering a 12-month period ending in calendar year 2016,
such as the period from April 1, 2015 to March 31, 2016.
5 Reporting for a U.S. business that became a U.S.
affiliate during fiscal year 2016 —
a. A U.S. business enterprise that was newly established in
fiscal year 2016 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 2016. 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 2016
that became a U.S. affiliate in fiscal year 2016 should file a
report covering a full 12 months of operations.
7 U.S. affiliates NOT consolidated – Report investments in
U.S. business enterprises that are not fully consolidated and that are
owned 20 percent or more using the equity method of accounting.
DO NOT report employment, land, and other property, plant, and
equipment and DO NOT eliminate intercompany accounts (e.g.,
receivables or liabilities) for holdings reported using the equity
method.

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM–Continued
You may report immaterial investments using the cost method of
accounting if this treatment is consistent with your normal reporting
practice. Report investments owned less than 20 percent in
accordance with FASB ASC 320 (formerly FAS 115) or the cost basis
of accounting.
List all U.S. affiliates in which this U.S. affiliate has a voting interest of
at least 10 percent and that are not consolidated in this Form BE-15C
on the Supplement B.

8 – 12 Ownership
a. 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.
b. 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.
FORM BE-15C (REV 12/2016)

Page 15

(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.
22 Number of employees at close of FY 2016 –
Employment is the number of full-time and part-time employees
on the payroll at the end of FY 2016, 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 2016 may be
used provided it is a reasonable estimate for the end of FY 2016
number. If employment at the end of FY 2016, or the count taken
at some other time during FY 2016, 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 2016. If given, the average
should be the average for FY 2016 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.
23 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:
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.
Employee benefit plans – are employer expenditures for all
employee benefit plans, including those required by government
statute, those resulting from a collective-bargaining 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.
25 Research and development (R&D) performed BY
the U.S. affiliate–R&D is planned, creative work aimed at
discovering new knowledge or developing new or significantly
improved goods and services. This includes a) activities aimed
at acquiring new knowledge or understanding without specific
immediate commercial application or use (basic research); b)
activities aimed at solving a specific problem or meeting a specific
commercial objective (applied research); and c) systematic use of
research and practical experience to produce new or significantly
improved goods, services, or processes (development).
R&D does NOT include expenditures for:
• Costs for routine product testing, quality control, and technical
services unless they are an integral part of an R&D project
• Market research
• Efficiency surveys or management studies
• Literary, artistic, or historical projects, such as films, music, or
books and other publications
• Prospecting or exploration for natural resources
Basic research is the pursuit of new scientific knowledge or
understanding that does not have specific immediate commercial
objectives, although it may be in fields of present or potential
commercial interest.
Applied research applies the findings of basic research or other
existing knowledge toward discovering new scientific knowledge
that has specific commercial objectives with respect to new
products, services, processes, or methods.

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM–Continued

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:

Development is the systematic use of the knowledge or
understanding gained from research or practical experience
directed toward the production or significant improvement of
useful products, services, processes, or methods, including the
design and development of prototypes, materials, devices, and
systems.

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.
INCLUDE all costs incurred to support R&D performed by the
affiliate. INCLUDE wages, salaries, and related costs; materials
and supplies consumed; depreciation on R&D property and
equipment, cost of computer software used in R&D activities;
utilities, such as telephone, electricity, water, and gas; travel costs
and professional dues; property taxes and other taxes (except
income taxes) incurred on account of the R&D organization or
the facilities they use; insurance expenses; maintenance and
repair, including maintenance of buildings and grounds; company
overhead including: personnel, accounting, procurement and
inventory, and salaries of research executives not on the payroll
of the R&D organization. EXCLUDE capital expenditures,
expenditures for tests and evaluations once a prototype becomes a
production model, patent expenses, and income taxes and interest.
V. SPECIAL INSTRUCTIONS
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.
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-15C 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
FORM BE-15C (REV 12/2016)

Page 16

Sunrise Apartments
c/o ABC Real Estate
120 Major Street
Miami, FL XXXXX

There are items throughout the Form BE-15C 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”.
C. 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).
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.
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 BE15 report(s) of the owning affiliate(s) must show an equity
investment in the owned affiliate.
D. 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.
E. 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.

V. SPECIAL INSTRUCTIONS – Continued
When acting in the capacity of an intermediary, the accounts or
transactions of the U.S. intermediary with a UBO are considered as
accounts or transactions of the U.S. affiliate with the UBO. 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 UBO 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
UBO. 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 UBO.
VI. FILING THE BE-15
A. Due date – A completed report, or Claim for Exemption from
filing, covering a reporting company’s fiscal year ending in calendar
year 2016 is due no later than May 31, 2017 (or by June 30 for
reporting companies that use BEA’s eFile system). Go to
www.bea.gov/efile for details about using eFile.

C. Assistance – For assistance, telephone (301) 278-9247 or send
e-mail to be12/[email protected]. Forms can be obtained from BEA’s
Web site at: www.bea.gov/fdi
D. Electronic Filing – Forms that can be transmitted to BEA electronically will be available on the BEA website: www.bea.gov/efile. If
you eFile, please do not submit paper reports.
E. Annual stockholders’ report or other financial statements –
Furnish a copy of your FY 2016 annual stockholders’ report or Form
10-K when filing the BE-15 report. If you do not publish an annual
stockholders’ report or file Form 10K, 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. Retention of copies – Each U.S. affiliate must retain a copy of its
report to facilitate the resolution of problems. These copies should
be retained by the U.S. affiliate for at least 3 years after the report's
original due date.

B. Extensions – For the efficient processing of the survey and timely
dissemination of the results, it is important that your report is filed by
the due date. Nevertheless, reasonable requests for extension of the
filing deadline will be granted.
For extension requests of 30 days or less, you may call BEA at
(301) 278-9247. Note: If submitting through eFile see due date
information above. 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 secure message through eFile
system at www.bea.gov/efile. Requests for extensions must be
received NO LATER THAN May 31, 2017.

FORM BE-15C (REV 12/2016)

Page 17

File Type	application/pdf
File Title	BE-15 Annual Survey of Foreign Direct Investment in the United States
File Modified	2017-08-08
File Created	2016-11-17