BE-185: Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons
Federal Register, Volume 82 Issue 30 (Wednesday, February 15, 2017)
Federal Register Volume 82, Number 30 (Wednesday, February 15, 2017)
Notices
Pages 10739-10740
From the Federal Register Online via the Government Publishing Office www.gpo.gov
FR Doc No: 2017-03058
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Docket No. 170112071-7096-01
RIN 0691-XC064
BE-185: Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons
AGENCY: Bureau of Economic Analysis, Commerce.
ACTION: Notice of reporting requirements.
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SUMMARY: By this Notice, the Bureau of Economic Analysis (BEA), Department of Commerce, is informing the public that it is conducting the mandatory survey titled Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons (BE-185). This survey is authorized by the International Investment and Trade in Services Survey Act and by Section
Page 10740
5408 of the Omnibus Trade and Competitiveness Act of 1988.
SUPPLEMENTARY INFORMATION: The purpose of this Notice is to notify all U.S. persons who meet the reporting requirements set forth in this Notice that they must respond to, and comply with, the BE-185. Reports are due 45 days after the end of each fiscal quarter, except for the final quarter of the U.S. person's fiscal year when reports must be filed within 90 days. This notice is being issued in conformance with the rule BEA issued in 2012 (77 FR 24373) establishing guidelines for collecting data on international trade in services and direct investment through notices, rather than through rulemaking. Additional information about BEA's collection of data on international trade in services and direct investment can be found in the 2012 rule, the International Investment and Trade in Services Survey Act (22 U.S.C. 3101 et seq.), and 15 CFR part 801, and by Section 5408 of the Omnibus Trade and Competitiveness Act of 1988 (Pub. L. 100-418, 15 U.S.C. 4908(b). Survey data on international trade in services and direct investment that are not collected pursuant to the 2012 rule are described separately in 15 CFR part 801. The BE-185 survey form and instructions are available on the BEA Web site at www.bea.gov/ssb.
Reporting
Who Must Report: (a) Reports are required from each U.S. person who had sales of covered financial services to foreign persons that exceeded $20 million during the previous fiscal year, or are expected to exceed that amount during the current fiscal year; or had purchases of covered financial services from foreign persons that exceeded $15 million during the previous fiscal year, or are expected to exceed that amount during the current fiscal year. Because the thresholds are applied separately to sales and purchases, the reporting requirements may apply only to sales, only to purchases, or to both.
(b) Entities required to report will be contacted individually by BEA. Entities not contacted by BEA have no reporting responsibilities.
What To Report: The survey collects information on transactions in the covered financial services between U.S. financial services providers and foreign persons.
How To Report: Reports can be filed using BEA's electronic reporting system at www.bea.gov/efile. Copies of the survey forms and instructions, which contain complete information on reporting procedures and definitions, can be downloaded from the BEA Web site given above. Form BE-185 inquiries can be made by phone to BEA at (301) 278-9303 or by sending an email to be-185help@bea.gov.
When To Report: Reports are due to BEA 45 days after the end of each fiscal quarter, except for the final quarter of the reporter's fiscal year when reports must be filed within 90 days.
Paperwork Reduction Act Notice
This data collection has been approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act and assigned control number 0608-0065. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by OMB. Public reporting burden for this collection of information is estimated to average 10 hours per response. Additional information regarding this burden estimate may be viewed at www.reginfo.gov; under the Information Collection Review tab, click on ``Search'' and use the above OMB control number to search for the current survey instrument. Send comments regarding this burden estimate to Director, Bureau of Economic Analysis (BE-1), U.S. Department of Commerce, 4600 Silver Hill Rd., Washington, DC 20233; and to the Office of Management and Budget, Paperwork Reduction Project 0608-0065, 725 17th Street NW., Washington, DC 20503.
Authority: 22 U.S.C. 3101-3108 and 15 U.S.C. 4908(b).
Brian C. Moyer,
Director, Bureau of Economic Analysis.
FR Doc. 2017-03058 Filed 2-14-17; 8:45 am
BILLING CODE 3510-06-P
