Dear Friends:

The Bureau of Economic Analysis (BEA) recently reintroduced the BE-10 Benchmark Survey of U.S. Direct Investment Abroad. The BE-10 survey is conducted every five years.

The BE-10 survey covers fiscals year ending in 2019 and it is required to be filed in two situations:

1. A Taxpayer received a letter from the BEA notifying them that a BE-10 survey is required to be filed.

2. A U.S. person (individual, corporation, etc) had a foreign affiliate at the end of the 2019 fiscal year.

A foreign affiliate is defined as having a direct or indirect ownership or control of at least 10 percent of the voting stock of an incorporated foreign business enterprise, or an equivalent interest in an unincorporated foreign business enterprise, including a branch or rental real estate.

If you received a letter from the BEA requesting you to file a BE-10 survey, but you do not meet the filing requirements, a BE-10 Claim for Not Filing must be submitted in response to the BEA letter.

The BE-10 survey is due May 29, 2020 for respondents filing fewer than 50 forms, or June 30, 2020 for respondents filing 50 or more forms. The number of forms required depends on the number of foreign affiliates owned by the respondent.

For more information regarding the completion of the required forms, please follow link below.

https://www.bea.gov/be-10-benchmark-survey-us-direct-investment-abroad

In many cases, the BEA will send a letter informing you of your requirements to file. However many individuals who have foreign affiliates will not receive a letter, yet nevertheless have a filing requirement.

If you meet the filing requirements of a BE-10 survey and would like our assistance with the completion and filing of the forms, please let us know as soon as possible and we will be happy to assist.

Regards,

Charlotte Wall,

Partner

Charlotte.Wall@SpottLuceyWall-CPAs.com

Main: 415.217.6900

BE-10 Benchmark Survey Information