The Bureau of Economic Analysis (BEA) is an agency of the U.S. Department of Commerce in charge of collecting and analyzing economic data. Its main objective is to provide accurate and reliable information on the state of the U.S. economy, including Foreign Investment.

It has created the BE–12 SURVEY to help policymakers monitor and understand the impact of foreign investment on the U.S. economy. This information is used by government, economic analysts, and academics to assess trends and make informed decisions regarding trade, tax and investment policies.

The BE–12 Survey must be filed by certain U.S. businesses, both resident and nonresident, that meet criteria established by the U.S. Census Bureau:

1. Mandatory reporting companies: Businesses that are subject to the mandatory filing of the BE-12 Survey include those that are owned directly or indirectly by foreign investors, or have foreign direct investment abroad, and meet specific monetary thresholds established by the Census Bureau, where a foreign person or entity owns or controls, directly or indirectly, more than a 10% interest. This includes Corporations and LLCs.

2. Non–U.S. companies: Non–U.S. companies that operate in the United States and meet the monetary thresholds of not having exceeded during the tax year $60 million in any of the following items: gross receipts, net income, or assets must also file.

It is important to note that the monetary thresholds and other requirements may vary depending on the reference date and the classification of the company based on its size and economic activity.

The deadline for filing the 2023 BE–12 Survey through the BEA’s electronic eFile system is June 30, 2023.

The BEA has the authority to impose civil penalties ranging from $5,580 to $55,808.

At ACMM Consulting,  we are already working with our clients to comply with this regulation. If you need our advice do not hesitate to contact us, the cost of this process is $250.