Every five years, the U.S. Direct Investment Abroad survey is to be filed out for the Bureau of Economic Analysis. This is currently due on May 30, 2025, for those with fewer than 50 forms to be filed and June 30, 2025, for those with 50 or more forms to file.
The BE-10 is required for any US person that has ownership or control of at least 10% of the voting stock or control of a foreign business enterprise at the end of the filers 2024 fiscal year. All who qualify must file even if no formal request was received in the mail. If a request was received and no filing is required, then a BE-10 Claim for Not Filing needs to be filed by May 30, 2025.
All filers must file one or more of the following forms:
- Form BE-10A – Report for U.S. Reporter – Required for All Filers
- Form BE-10B – Majority owned foreign affiliates with assets, sales or net income/loss greater than $80 million.
- Form BE-10C – Majority owned foreign affiliates with assets, sales or net income/loss greater than $25 million, but none of these items was greater than $80 million. Also for minority owned foreign affiliates with assets, sales or net income/loss that exceed $25 million.
- Form BE-10D – Report for foreign affiliates for which no one item – assets, sales and net income/loss were greater than $25 million.
Failure to comply can result in possible civil and criminal penalties. Non-willful penalties can range from $5,911 to $59,114. Criminal penalties can be up to $10,000 in fines and potential imprisonment.
Forms can be filed online at www.bea.gov/efile, faxed to 301-278-9502, or you can mail the forms in to the applicable address on the BE forms.
Forms and more details can be found at https://www.bea.gov/be-10-benchmark-survey-us-direct-investment-abroad.
If you require assistance, feel free to contact a member of our Tax Team here.