Form BE-577 QUARTERLY SURVEY OF U.S. DIRECT INVESTMENT ABROAD Transa

BE-577 (Rev. 11/2022)

OMB No. 0608-0004: Approval Expires 11/30/2025

QUARTERLY SURVEY OF U.S. DIRECT INVESTMENT ABROAD
Transactions of U.S. Reporter with Foreign Affiliate

Affiliate ID

MANDATORY – CONFIDENTIAL
1 What is the date range and year within which the
foreign affiliate’s quarter ends for this report?
Mark (X) one and enter year.

Electronic filing &
secure messaging: www.bea.gov/efile
Telephone:

(301) 278-9261

E-mail:

[email protected]

Mail reports to:

Bureau of Economic Analysis
Direct Investment Division, BE-69(Q),
4600 Silver Hill Road
Washington, DC 20233

2/16–5/15
003

(301) 278-9501

Copies of form:

www.bea.gov/dia

8/16–11/15

11/16–2/15

Year

2 Name of U.S. Reporter

3 U.S. Reporter mailing address – Generally, each U.S. Reporter
has a single address for all of its BE-577 reports.

Deliver reports to: Bureau of Economic Analysis
Direct Investment Division, BE-69(Q)
4600 Silver Hill Road
Suitland, MD 20746
FAX reports to:

5/16–8/15

In Care Of:

Attention:

Title:
Street 1:

Street 2:

City:

004

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.

State:

Zip:

4 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 $500 million
(positive or negative) at any time during the affiliate’s fiscal reporting year and each 2) indirectly-owned foreign affiliate that met the $500
million threshold and had an intercompany receivable or payable balance with the U.S. Reporter that exceeded $10 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

--Select Country-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

1
2

Yes
No

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.

Current
Industry Code

CODE-_ _ISI _
_--Select
_ _ISI_CODE-- _--Select

006 1

. . . .

Revised
2

Click here to go to the ISI code descriptions.

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Affiliate ID

8 How has the affiliate’s reporting status changed during the quarter?
Mark (X) one
008

1

1

■ Affiliate was not previously reported. If the affiliate was acquired or established, specify
the date and complete Part III and Part IV  .
1

■ Affiliate was temporarily exempt after previously reporting; reporting resumes.
3 ■ Affiliate was merged or reorganized. Explain in the Remarks box on page 4 and specify date of status change.
1
4 ■ Affiliate was sold or seized. Only complete Part III and specify date of status change.
1
5 ■ Affiliate was liquidated. Only complete Part III and specify date of status change.
Date of status change
1
MM / DD / YYYY
6 ■ Affiliate fell below exemption level. Only complete Part V (Certificate of Exemption).
2
1
8 ■ Affiliate did not change reporting status during the quarter.
2

1

9 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

Number Consolidated . . . . . . . . . . . . . . .

10 What type of equity interest does the U.S. Reporter hold in this foreign affiliate?
011 1

■ Only a direct equity interest. Skip to Part I .
■ Only an indirect equity interest through another Foreign affiliate. Complete 11 , then skip to Part II .
1
3 ■ Both a direct and indirect equity interest. What is the percentage of direct equity interest?. . . . . 2
1
4 ■ Voting interest only (No equity interest). Only complete Part II .
1

1

2

%

11 What is the name and ID number (if available) of the top
009
foreign affiliate parent in this affiliate’s ownership
chain that is directly owned by the U.S. Reporter?. . . . . . . . . .

Example 1

Example 2

• 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.

• 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.

U.S. Reporter
Foreign affiliate A (top foreign affiliate parent)
directly owned by the U.S. Reporter

• 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

Foreign affiliate C
identified in 4

The entity named in question 11 must NOT be part of the U.S. reporter. The U.S. reporter is a U.S. person or entity that owns 10 percent
or more of a foreign business enterprise, including a branch. The U.S. Reporter includes the fully consolidated U.S. domestic enterprise,
which is defined as: 1) the U.S. business enterprise whose voting securities are not owned more than 50 percent by another U.S. business
enterprise, and 2) proceeding down each ownership chain from that U.S. business enterprise, any U.S. business enterprise (including
Foreign Sales Corporations located in the United States) whose voting securities are more than 50 percent owned by the U.S. business
enterprise above it. This consolidation excludes foreign branches and all other foreign affiliates.
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FORM BE-577 (Rev. 11/2022)

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:
101
A. The foreign affiliate’s quarterly net income (loss), after provision for foreign income taxes?. . .

Bil.

Mil.

Thou.

$

Dols.

000

• Include income from equity investments. For foreign affiliates owned 20 percent or more, report Amounts Reported Prior Quarter
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 royalty payments and receipts or transfer pricing.
B. Certain gains (losses), after provision for foreign income taxes:

Bil.
111

1. Included in net income (loss) 12  A?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mil.

Thou.

$

Dols.

000

• Sales or other dispositions of financial assets, including investment securities; gains (losses) related
to fair value accounting; FASB ASC 320 holding gains (losses) on securities classified as trading
securities; FASB ASC 320 impairment losses; FASB ASC 321 unrealized holding gains (losses) on
securities measured at fair value; 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
orliabilities. 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)).
121

2. Not included in net income (loss) 12  A but taken directly to other comprehensive
income (loss)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bil.

Mil.

Thou.

$

Dols.

000

• Do not include foreign currency translation adjustments report such amounts in 12  C.
• Include unrealized holding gains (losses) due to changes in the valuation of available-for-sale
securities per FASB ASC 320 (FAS 115), and any other comprehensive income items
required tobe displayed separately from retained earnings as per FASB ASC 220 (FAS 130).
131

C. The change in the balance sheet translation adjustment account during the quarter?. . . . . . . .

Bil.

$

Mil.

Thou.

Dols.

000

• 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. 11/2022)

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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.
Current Quarter

13 Based on the books of the U.S. Reporter, what is the U.S. Reporter’s share of:

Bil.

141
A. Dividends or earnings distributed (gross of foreign affiliate withholding taxes) to the
U.S. Reporter by this affiliate?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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 22   .
• 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  .

Bil.
151

B.
Foreign tax witheld by the country named in 5 on the amount reported in 13  A?. . . . . . . . . .

Thou.

$

Dols.

000

$
Bil.

161
C. The net amount of dividends/earnings distributed to the U.S. Reporter by this affiliate
( 13  A less 13  B)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mil.

Mil.

Thou.

Dols.

000

Remarks

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FORM BE-577 (Rev. 11/2022)

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 19 .
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

■ Yes
2 ■ No – SKIP to
1

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

■ Yes – Go to 16  A.
2 ■ No – Go to 16  B.
1

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

■ Yes – Complete

2

■ No – SKIP to

17 and 19 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.
Part III

16  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

■ Yes – Complete

2

■ No – Go to

17 and 19 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.
17

Remarks

FORM BE-577 (Rev. 11/2022)

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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.
• Leases – In accordance with FASB ASC 842, leases greater than one year between the U.S. parent and the foreign affiliate
should be reported as intercompany balances. Lease payments should be disaggregated into the amounts that are (i) a
reduction in an intercompany balance, and (ii) interest.
• Insurance Technical Reserves – Include these provisions (prepaid premiums, claims payable, etc.) when with related parties
(e.g., a “captive” insurance affiliate).
• 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.
Receivable balances

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?
18 For the end of quarter
balance reported in 17 ,
provide the amounts that
are denominated in:

Beginning of quarter

End of quarter

(1)

Bil.

221

Mil.

$

Dols.

000

Bil.

222

223

B. Euro

224

Amounts
Reported Prior
Quarter

225
226

Mil.

(3)

Thou.

$

Dols.

000

Bil.

A. U.S. dollars

D. Other

Current quarter

(2)

Thou.

(Report in thousands of U.S. dollars)

C. Yen

Interest

Mil.

Thou.

$
$
$
$

Bil.

171

Mil.

Thou.

$

Dols.

000

Dols.

000
000
000
000

The sum of 18  A + 18  B + 18  C + 18  D should equal 17 , column 2.
Payable balances

19 What are the short- and
long-term payables due to
the foreign affiliate from
the U.S. Reporter and the
related interest expense
on those balances?
20 For the end of quarter
balance reported in 19 ,
provide the amounts that
are denominated in:

Beginning of quarter

End of quarter

(1)

Bil.

231

$

Mil.

A. U.S. dollars

Dols.

000

Bil.

232

C. Yen
D. Other

234
235
236

Mil.

(3)

Thou.

$

Dols.

000

Bil.

233

Amounts
Reported
Prior Quarter

Current quarter

(2)

Thou.

(Report in thousands of U.S. dollars)

B. Euro

Interest

$
$
$
$

Mil.

Thou.

Bil.

172

$

Mil.

Thou.

Dols.

000

Dols.

000
000
000
000

The sum of 20  A + 20  B + 20  C + 20  D should equal 19 , column 2.
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FORM BE-577 (Rev. 11/2022)

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 21 or 22 :
• 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 21  B), and adjust the debt balance as appropriate in Part II 17  .
Exclude from 21 and 22 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, in turn, owns and transactions between indirectly
owned affiliates. (For affiliates that are entirely indirectly-owned by the U.S. Reporter, 21 and 22 should be blank.)
• Investments that are written off (include the amount written off in 22  A I or 22  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 .

21 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:

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? . . . .

Bil.

Mil.

Thou.

000

$

000

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? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Give name and address of seller.

22 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? . . . .

Mil.

Thou.

$

000

$

000

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.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Thou.

$

Dols.

000

Bil.

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Thou.

$

Dols.

000
Bil.

Mil.

Thou.

$

Dols.

000

Bil.

Mil.

Thou.

$

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000

Dols.

282
B. Return of capital contributions and other transactions of the U.S. Reporter with foreign
persons? Specify. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

FORM BE-577 (Rev. 11/2022)

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Dols.

$

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Thou.

$

000
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$

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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 23 – 28 as of the ending date of the quarter for the initial report.
• Include the cumulative translation adjustment in 27  D or 28  , as appropriate.
• Retained earnings (deficit) of unconsolidated indirectly-owned affiliates should be included on the
report of the directly-owned foreign affiliate parent in 27 C or 28 as appropriate, on an equity basis.
322

23 What is the foreign affiliate’s fiscal year (or, if initial report, quarter) ending date? . . . . . . . . . . . . .

M M / D D /YYYY
MM/DD/YYYY

24 What is the U.S. Reporter’s percent of direct ownership based on equity interest
332
if an incorporated affiliate, or an equivalent interest in an unincorporated
affiliate? Round to the nearest tenth of one percent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

%

U.S. Reporter’s Equity in Foreign Affiliate’s Annual Net Income (Loss)
342
25 What is the U.S. Reporter’s direct equity in the affiliate’s annual net income (loss) after
provision for foreign income taxes?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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
26 What is the U.S. Reporter’s share of certain gains (losses) included in net income in
item 25  ? (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)

27 What is the U.S. Reporter’s direct equity in the incorporated foreign affiliate’s:

352

A. Total equity – Equals the sum of 27  B through 27  E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
362

B. Capital stock and additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
372

C. Retained earnings (deficit). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accumulated other comprehensive income (loss)

382

D. Translation adjustment component. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
392

E. All other components including other comprehensive income (loss). . . . . . . . . . . . . . . . . . . . . . . . . . .
402
28 What is the U.S. Reporter’s share of total owners’ equity in the unincorporated
foreign affiliate?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. 11/2022)

Affiliate ID

Part V – Certification of Exemption

29 The affiliate is exempt from filing a BE-577 report if ANY ONE of the conditions specified in
statements A–C below applies. Select the statement that applies and answer ALL adjacent questions.
480
1

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 $500 million (positive or negative) during the affiliate’s last
four fiscal quarters. If 12 months of data are not available, give full-year projections.
502

12-month period ended. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

481

Total assets – Include equity in unconsolidated foreign affiliates owned by this affiliate. . . . . . . . .
491

Annual sales or gross operating revenues, excluding sales taxes. . . . . . . . . . . . . . . . . . . . . . . . . .
501
Annual net income after provision for foreign income taxes –
Include income of unconsolidated foreign affiliates owned by this affiliate.. . . . . . . . . . . . . . . . . . .

2

Month Day

Year

__/__/____
Bil.

Mil.

Thou.

$

Dols.

000
Bil.

Mil.

Thou.

$

Dols.

000
Bil.

Mil.

Thou.

$

Dols.

000

B. ■ The affiliate meets the $500 million threshold, but is exempt because it is INDIRECTLY owned AND neither of the
following items exceeds $10 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. 11/2022)

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 19 ) and equity 28 , 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 21  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 22  B. 17 and 19 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. 11/2022)

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.
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 is a U.S. person or entity that owns 10 percent or more of a foreign business enterprise, including a branch. The U.S.
Reporter includes the fully consolidated U.S. domestic enterprise, which is defined as: 1) the U.S. business enterprise whose voting
securities are not owned more than 50 percent by another U.S. business enterprise, and 2) proceeding down each ownership chain from
that U.S. business enterprise, any U.S. business enterprise (including Foreign Sales Corporations located in the United States) whose
voting securities are more than 50 percent owned by the U.S. business enterprise above it. This consolidation excludes foreign branches
and all other foreign affiliates.
FORM BE-577 (Rev. 11/2022)

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. 11/2022)

OMB No. 0608-0004: Approval Expires 11/30/2025

Affiliate ID

BE-577 Summary Form
2/16–5/15

Item Data Item

5/16–8/15

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

013

16A

USR consol Ins RE Leas? Y/N

014

16B

USR consol banks? Y/N

015

17

U.S. rec: beg, end; Int receipts

221/222/171

18A

U.S. dollars

223

18B

Euro

224

18C

Yen

225

18D

Other

226

19

U.S. pay: beg, end; Int payments 231/232/172

20A

U.S. dollars

233

20B

Euro

234

20C

Yen

235

20D

Other

236

21A

Estab or acq

242

21A I

Exceeds book value

301

21A II Less than book value

11/16–2/15

Col 1

■ Yes

Col 2

Col 3

■ No
--Select ISI CODE--

--Select ISI CODE--

0

■ Yes
■ Yes
■ Yes
■ Yes

Year

%

■ No
■ No
■ No
■ No

311

21B

Capital contribution

252

21C

Acq fm oth U.S. pers

262

22A

Liq or sale

272

22A I

Exceeds book value

302

22A II Less than book value

312

22B

Ret of capital contrib

282

22C

Sale to oth U.S. pers

292

23

FYE

322

24

Direct own %

332

25

Annual net Inc (loss)

342

FORM BE-577 (Rev. 11/2022)

8/16–11/15

%

Summary Form, Page 1 of 1

Page 13

OMB No. 0608-0004: Approval Expires 11/30/2025

Affiliate ID

BE-577 Summary Form – continued

26

Gains/losses (annual)

343

27A

Total equity, inc

352

27B

Capital stock

362

27C

Retained earnings

372

27D

Translation adj

382

27E

Oth comp inc

392

28

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

Certification of Exemption, Page 1 of 1

FORM BE-577 (Rev. 11/2022)

OMB No. 0608-0004: Approval Expires 11/30/2025

BE-577 Certification
of 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

29

Exempt reason

480

29A

FYE

502

Total assets

481

Annual sales

491

Annual net income

501

29B

Indir exempt - FP

009

29C

Private fund - FP

009

8/16–11/15

11/16–2/15

Col 1

■ Yes

Year

Col 2

■ No
--Select ISI CODE--

--Select ISI CODE--

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. 11/2022)

Summary Form, Page 1 of 1

Page 15