Be-15b

Annual Survey of Foreign Direct Investment in the United States

be15b_web

Annual Survey of Foreign Direct Investment in the United States

OMB: 0608-0034

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FORM

BE-15B

Form Code 2

(REV. 10/2011)

OMB No. 0608-0034: Approval Expires 08/31/2014

BE-15 Identification Number

MANDATORY — CONFIDENTIAL
2011 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT
IN THE UNITED STATES
FORM BE-15B
Name and address of U.S. business enterprise
DUE DATE: MAY 31, 2012
1002 Name of U.S. affiliate
0

ELECTRONIC FILING:
1010 c/o (care of)
0

www.bea.gov/efile
MAIL REPORTS TO:

1003 Street or P.O. Box
0

U.S. Department of Commerce
Bureau of Economic Analysis BE-49(A)
Washington, DC 20230

1004 City
0

0998 State
0

DELIVER REPORTS TO:
1005 ZIP Code
0

U.S. Department of Commerce
Bureau of Economic Analysis, BE-49(A)
Shipping and Receiving Section, M100
1441 L Street, NW
Washington, DC 20005

Foreign Postal Code

FOR INFORMATION OR ASSISTANCE:
Email:
Telephone:
Copies of blank forms:

FAX REPORTS TO:
(202) 606-1905*

be12/15@bea.gov
(202) 606-5577
www.bea.gov/fdi

Please include your BE-15 Identification Number with all requests.
Who must file BE-15B – Form BE-15B must be filed for a U.S. affiliate with total assets, sales or gross operating revenues, or net income greater than
$120 million (positive or negative), except for majority-owned affiliates with total assets, sales or gross operating revenues, or net income greater than
$275 million (positive or negative) (a BE-15A is required for these affiliates). For more information on filing requirements, see instruction I.2 on page 15.
If you do not meet these filing criteria, see instruction I.A.1 on page 14 to determine which form to file.
MANDATORY
CONFIDENTIALITY
PENALTIES

➔

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). The filing of reports is mandatory and the Act
provides that your report to this Bureau is confidential. Whoever fails to report may be subject to penalties.
See page 13 for more details.

PERSON TO CONSULT CONCERNING QUESTIONS
ABOUT THIS REPORT — Enter name and address
1000

Name
0

1029

CERTIFICATION — The undersigned official certifies that this report
has been prepared in accordance with the applicable instructions, is
complete, and is substantially accurate except that, in accordance with
instruction III.C on page 16, estimates may have been provided.

Address
0

1030 0

Authorized official’s signature

1031 0

0990

Print or type name

Date
0991

0
1001

Telephone number Area code

Number

Extension

0992

Telephone number
0

Print or type title
0

0993

FAX number
0

May FAX and/or email be used in correspondence between your enterprise and BEA, including FAX’ed reports, and/or to discuss questions relating
to this survey that may contain confidential information about your company?
* NOTE: The internet and telephone systems are not secure means of transmitting confidential information unless it is encrypted. If you choose to
communicate with BEA via FAX or electronic mail, BEA cannot guarantee the security of the information during transmission, but will treat information we
receive as confidential in accordance with Section 5(c) of the International Investment and Trade in Services Survey Act.

1027

Email:

1
1

1032

FAX:

1
1

Yes (If yes, please print your e-mail address.)

1
2

Yes (If yes, please print your fax number.)
No

Email address (Please print)
0
1028

Fax number
1
0999

PART I – IDENTIFICATION OF U.S. AFFILIATE
IMPORTANT
Please review the Instructions starting on page 13 before completing this form. Insurance and real estate companies see
Special Instructions starting on page 22.
• Accounting principles – If feasible use U.S. Generally Accepted Accounting Principles to complete Form BE-15 unless you are requested
to do otherwise by a specific instruction. References in the instructions to Financial Accounting Standards Board Accounting Standards
Codification Topics are referred to as "FASB ASC."
• U.S. affiliate’s 2011 fiscal year – The affiliate’s financial reporting year that had an ending date in calendar year 2011.
• Consolidated reporting – A U.S. affiliate must file on a fully consolidated domestic U.S. basis, including in the consolidation
ALL U.S. affiliates in which it directly or indirectly owns more than 50 percent of the outstanding voting interest. The
consolidation rules are found in instruction IV.2. starting on page 16.
• Rounding – Report currency amounts in U.S. dollars rounded to thousands (omitting 000).
Do not enter amounts in the shaded portions of each line.
Example – If amount is $1,334,891.00 report as:
1.

Bil.

Mil.

Thous. Dols.

000

Which financial reporting standards will be used to complete this BE-15 report?
NOTE: Unless it is highly burdensome or not feasible, the BE-15 report should be completed using U.S. Generally Accepted
Accounting Principles (U.S. GAAP).
1399 1
1

U.S. Generally Accepted Accounting Principles

International Financial Reporting Standards (as promulgated by, or adapted from, the International Accounting Standards Board)
NOTE: Do not prepare your BE-15 report using the proportionate consolidation method, except as noted in instruction
IV.2.b. and c on page 17.

1a.

Other reporting standards – Specify the reporting standards used

If you use financial reporting standards other than U.S. GAAP, are you able to make adjustments to correct for any material
differences between U.S. GAAP and the reporting standards used?
1398 1

Yes

Consolidated reporting by the U.S. affiliate – Is more than 50 percent of the voting interest in this U.S. affiliate owned by another U.S.
affiliate of your foreign parent (see the diagram below for assistance in answering this question)?
1400 1

Yes

If "Yes" – Do not complete this report unless exception 2.c. described in the consolidation rules on page 17 applies. If this
exception does not apply, please forward this BE-15 survey packet to the U.S. business enterprise owning your company
more than 50 percent, and notify BEA of the action taken by filing BE-15 Claim for Exemption with item 2(d) completed on
page 3 of that form. The BE-15 Claim for Exemption can be downloaded from our web site at: www.bea.gov/fdi

If "No" – Complete this report in accordance with the consolidation rules starting on page 16.
CONSOLIDATION OF U.S. AFFILIATES

Foreign Parent

Foreign

NOTE – Arrows connecting
boxes represent direction of
ownership

10 to 100 percent

United States
U.S. affiliate A
>50 percent

U.S. affiliate B should be consolidated on the BE-15
report for U.S. affiliate A because U.S. affiliate B is more
than 50 percent owned by U.S. affiliate A.

U.S. affiliate B

Page 2

FORM BE-15B (REV. 10/2011)

PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
3.

Enter Employer Identification Number(s) used by the U.S. affiliate to file income and payroll taxes.
Primary
1006 1

Other

–

4. REPORTING PERIOD – Reporting period instructions are found in instruction 4 on page 17. If there was a change in
fiscal year, please review instruction 4.b. on page 17.
Month
This U.S. affiliate’s financial reporting year ended in calendar year 2011 on

1007

Day

Year

2011

__ / __ / ____

Example – If the financial reporting year ended on March 31, report for the 12-month period ended March 31, 2011.
NOTE – Affiliates with a fiscal year that ended within the first week of January 2012 are considered to have a 2011 fiscal year and should
report December 31, 2011 as their 2011 fiscal year end.
5. Did the U.S. business enterprise become a U.S. affiliate during its fiscal year that ended in calendar year 2011?
1008 1
1

Yes

If "Yes" – Enter date U.S. business enterprise became a U.S. affiliate and see instruction 5 on page
17 to determine how to report for the first time.
Month
1009

Day

Year

__ / __ / ____
NOTE – For a U.S. business enterprise that became a U.S. affiliate during its fiscal year that ended in calendar year 2011, leave
the close FY 2010 data columns blank.
6. Is the U.S. affiliate named on page 1 separately incorporated in the United States, including its territories and possessions?
1011 1
1

Yes

No – Reporting rules for unincorporated affiliates are found in instruction 6 starting on page 17.
Reporting rules for real estate are found in instruction V.C. starting on page 22.

7. U.S. affiliates fully consolidated in this report – U.S. affiliates that are more than 50-percent owned should be fully consolidated in this
report, except as noted in the consolidation rules starting on page 16. Banks see instruction I.C. on page 15 for aggregated reporting
rules.
Enter the number of U.S. affiliates consolidated in this report in the box below. Hereinafter they are considered to be one U.S. affiliate. If the
report is for a single U.S. affiliate, enter "1" in the box below. Exclude from the consolidation all foreign business enterprises or
operations owned by this U.S. affiliate.
1012 1

Number – If number is greater than one, complete the Supplement A on page 9.
8. U.S. affiliates NOT fully consolidated – See instruction 8 on page 18.
Number of U.S. affiliates, in which this U.S. affiliate has an ownership interest, that are NOT fully consolidated in this report.

1013 1

Number – If number is not zero, complete the Supplement B on page 11.
The U.S. affiliate named on page 1 must include data for unconsolidated U.S. affiliates on an equity basis, or using fair value
accounting, or, if less than 20 percent owned, in accordance with FASB ASC 320 (formerly FAS 115) or the cost method of
accounting. The U.S. affiliate named on page 1 also must notify the unconsolidated U.S. affiliates of their obligation to file a
BE-15 in their own names (see page 14 to determine the appropriate form for these affiliates to file).

FORM BE-15B (REV. 10/2011)

Page 3

PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
Ownership — Enter percent of ownership, in this U.S. affiliate, to a tenth of one percent, based on voting interest (or an equivalent interest if
an unincorporated affiliate). "Voting interest" is defined in instruction 9–14 starting on page 18.
Foreign parent — A foreign parent is the FIRST person or entity outside the U.S. in a chain of ownership that has a 10 percent or more voting interest
(direct or indirect) in this U.S. affiliate. The country of foreign parent is the country of incorporation or organization if the parent is a business enterprise, or
of residence if the parent is an individual. For individuals, see instruction V.F. starting on page 23.
Name of each direct owner

Voting interest

Country of
foreign parent

BEA
USE
ONLY

Close FY 2011 Close FY 2010
(1)

(2)

Ownership held directly by foreign parent(s) of this affiliate—see example 1 below.
Enter name and country of each foreign parent with direct ownership—if more than 2, continue on separate sheet.
9.

1017

10.

1018

_ _ _. _

3
3

Ownership held indirectly by foreign parents of this U.S. affiliate through another U.S. affiliate — see example 2 below. Enter name of each U.S.
affiliate that owns this affiliate and the country of the foreign parent — if more than 2, continue on separate sheet.
1

11.

1063

12.

1064

13.

Direct ownership held by all other persons (do not list names)

14.

TOTAL — Sum of items 9 through 13.

1
1061

_ _ _. _

100.0%

2
2
2

_ _ _. _

3
3

100.0%

EXAMPLES OF DIRECT AND INDIRECT FOREIGN OWNERSHIP
Example 1 – Ownership held directly by a foreign parent

Example 2 – Ownership held indirectly by a foreign parent
through another U.S. affiliate

Foreign Company X
Foreign Company Y is the foreign
parent because it is the first owner
located outside the U.S. in a chain of
ownership that owns 10 percent or
more of the U.S. affiliate.

Foreign Parent
10 to 100 percent

Foreign Company Y
(Foreign Parent)

Foreign
United States
U.S. affiliate A

10 to 100 percent
Foreign
United States
NOTE: Arrows connecting boxes represent
direction of ownership

U.S. affiliate

U.S. affiliate B is indirectly owned by the
foreign parent through U.S. affiliate A. U.S.
affiliate A has a direct ownership interest in
U.S. affiliate B.

U.S. affiliate B

FOREIGN PARENT AND UBO INDUSTRY CODES
Note: "ISI codes" are International Surveys Industry codes, as given in the Guide to Industry Classifications for International Surveys, 2007
located at www.bea.gov/naics2007.
01 Government and government-owned or -sponsored enterprise, or
quasi-government organization or agency
02 Pension fund — Government run
03 Pension fund — Privately run
04 Estate, trust, or nonprofit organization (that part of ISI
code 5252 that is estates and trusts)
05 Individual

16 Real estate (ISI code 5310)
17 Information (ISI codes 5111–5191)
18 Professional, scientific, and technical services (ISI codes 5411–5419)
19 Other services (ISI codes 1150, 2132, 2133, 5321, 5329, and 5611–8130)
Manufacturing, including fabricating, assembling,
and processing of goods:
20 Food (ISI codes 3111–3119)

Private business enterprise, investment
organization, or group engaged in:

21 Beverages and tobacco products (ISI codes 3121 and 3122)

06 Insurance (ISI codes 5242, 5243, 5249)

22 Pharmaceuticals and medicine (ISI code 3254)

07 Agriculture, forestry, fishing and hunting (ISI codes 1110–1140)

23 Other chemicals (ISI codes 3251–3259, except 3254)

08 Mining (ISI codes 2111–2127)

24 Nonmetallic mineral products (ISI codes 3271–3279)

09 Construction (ISI codes 2360–2380)
10 Transportation and warehousing (ISI codes 4810–4939)
11 Utilities (ISI codes 2211–2213)
12 Wholesale and retail trade (ISI codes 4231–4251 and 4410–4540)
13 Banking, including bank holding companies (ISI codes 5221 and 5229)
14 Holding companies, excluding bank holding companies
(ISI codes 5512 and 5513)
15 Other finance (ISI codes 5223, 5224, 5231, 5238, that part of ISI
code 5252 that is not estates and trusts, and ISI code 5331)
Page 4

25 Primary and fabricated metal products (ISI codes 3311–3329)
26 Computer and electronic products (ISI codes 3341–3346)
27 Machinery manufacturing (ISI codes 3331–3339)
28 Electrical equipment, appliances and components (ISI codes 3351–3359)
29 Motor vehicles and parts (ISI codes 3361–3363)
30 Other transportation equipment (ISI codes 3364–3369)
31 Other manufacturing (ISI codes 3130–3231, 3261, 3262, 3370–3399)
32 Petroleum manufacturing, including integrated petroleum and petroleum
refining without extraction (ISI codes 3242–3244)
FORM BE-15B (REV. 10/2011)

PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
15.

Enter the name and industry code of the foreign parent. If there is more than one foreign parent, list each and its industry code on a
separate sheet.

15a. Enter name of foreign parent. If the foreign parent is an individual enter "individual."
3011

15b. Enter the foreign parent industry code from the list of codes on page 4 that best describes the PRIMARY activity of the SINGLE entity named as
the foreign parent. DO NOT base the code on the world-wide sales of all consolidated subsidiaries of the foreign parent. If the foreign parent is an
individual, enter code "05."
3018

16.

Ownership Type:

Direct

Indirect

For each foreign parent, furnish the name, country and industry code of the ultimate beneficial owner (UBO) – see UBO examples below. If there
is more than one foreign parent, list each on a separate sheet and give the name of its UBO, and the UBO’s country and industry codes. The UBO
is that person or entity, proceeding up the ownership chain beginning with and including the foreign parent, that is not more than 50 percent owned
or controlled by another person or entity. See instruction II.O. on page 16 for the complete definition of UBO.

16a. Is the foreign parent also the UBO? If the foreign parent is owned or controlled more than 50 percent by another person or entity, then the foreign
parent is NOT the UBO.
3019 1

Yes (as shown in example 1 below) –
Skip to 16d.

No (as shown in examples 2A and 2B below) –
Continue with 16b.

16b. Enter the name of the UBO of the foreign parent. If the UBO is an individual enter "individual."
Identifying the UBO as "bearer shares" is not an acceptable response.
3021

16c. Enter country of the UBO. For individuals, see instruction V.F. starting on page 23.

BEA USE ONLY
3022 1

16d. Enter the industry code of the UBO from the list of codes on page 4. NOTE – Select the industry code that best reflects the consolidated
world-wide sales of all majority-owned subsidiaries. If the UBO is an individual, enter code "05."
3023

DO NOT use code "14" unless you receive permission from BEA.
EXAMPLES OF THE ULTIMATE BENEFICIAL OWNER (UBO)
Example 1 – The UBO and Foreign Parent are the same
The UBO and foreign parent are the
same if the foreign parent is NOT more
than 50 percent owned or controlled by
another person or entity.

NOTE: Arrows connecting boxes represent direction of ownership

Foreign Company X
1 to 50%

Foreign Parent = UBO
Foreign
United States
U.S. affiliate
Examples 2A and 2B – The Foreign Parent is NOT the UBO
A. The UBO is a foreign person or entity
Foreign Company Y is the foreign
parent of the U.S. affiliate; foreign
Company X is the UBO. The foreign
parent is not the UBO if the foreign
parent is more than 50 percent owned
or controlled by another person or
entity.
Foreign

B. The UBO is a U.S. person or entity
Foreign Company X
(UBO)
>50 Percent
Foreign Company Y
(Foreign Parent)

United States

Foreign Company Z
(Foreign Parent)
Foreign

>50 Percent

United States
U.S. affiliate

FORM BE-15B (REV. 10/2011)

Foreign Company Z is the foreign
parent of the U.S. affiliate. U.S.
Company C is the UBO.

U.S. Company C
(UBO)

U.S. affiliate

Page 5

PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE
Section A – INDUSTRY CLASSIFICATION AND TOTAL SALES OF FULLY CONSOLIDATED U.S. AFFILIATE
17. What is (are) the major product(s) and/or service(s) of the fully consolidated U.S. affiliate? If a product, also state what is done to it, i.e.,
whether it is mined, manufactured, sold at wholesale, transported, packaged, etc. (For example, "manufacture widgets.")
1163

Enter the 4-digit International Surveys Industry (ISI) code(s) and the sales associated with each code in items 18 through 21 below.
Column (1): ISI Code – See the Summary of Industry Classifications on page 12; for a full explanation of each code, see the Guide to Industry
Classifications for International Surveys, 2007 located at www.bea.gov/naics2007. For an inactive affiliate, base the industry classification(s) on its last
active period; for "start-ups" with no sales, show the intended activity(ies). Holding company (ISI code 5512) is often an invalid industry classification
for a conglomerate. A conglomerate must determine its industry code based on the activities of the fully consolidated domestic U.S. business
enterprise. Book publishers, printers, and Real Estate Investment Trusts see instructions 18–23 on page 19.
Column (2): Sales – Total sales or gross operating revenues, excluding sales taxes – Gross sales minus returns, allowances, and discounts; or
gross operating revenues.
EXCLUDE

INCLUDE
• Total sales or gross operating revenues, excluding sales taxes –
Gross sales minus returns, allowances, and discounts; or gross
operating revenues.

• Sales or consumption taxes levied directly on the consumer.

• Revenues generated during the year from the operations of a
discontinued business segment.

• Excise taxes levied directly on manufacturers, wholesalers, and
retailers.

• ONLY finance and insurance companies and units should report
dividends and interest. Companies involved with repos and reverse
repos see instructions 18–23 on page 19.

• Gains or losses from DISPOSALS of discontinued operations and
gains and losses from derivative instruments.

• Total income of holding companies including income (loss) from
equity investments in unconsolidated U.S. affiliates and all foreign
entities, certain gains (losses), other income, plus sales and gross
operating revenue, if any.

• Dividends and interest earned by non-finance and non-insurance
companies and units.
ISI code

Sales

(1)

Bil. Mil. Thous. Dols.

(2)

18. Enter code with largest sales

1164

19. Enter code with 2nd largest sales

1165

20. Enter code with 3rd largest sales

1166

21. Enter code with 4th largest sales

1167

1164
1

1165
1

23. TOTAL SALES OR GROSS OPERATING REVENUES (excluding sales
taxes) – Sum of items 18 through 22, columns (2)

1166

1167

28.

1174

000

Bil. Mil. Thous. Dols.
1
2159

Total employee compensation for FY 2011 — Base compensation on payroll records. Employee compensation must
cover compensation charged as an expense on the income statement, charged to inventories, or capitalized during the
reporting period. INCLUDE wages and salaries and employee benefit plans. EXCLUDE compensation related to activities of
a prior period, such as compensation capitalized or charged to inventories in prior periods. EXCLUDE compensation of
contract workers and other workers not carried on the payroll of this U.S. affiliate. See instruction 25 on page 19.
Research and development (R&D) performed BY the U.S. affiliate — INCLUDE all costs incurred in performing R&D,
including depreciation, amortization, wages and salaries, taxes, materials and supplies, overhead — whether or not allocated
to others — and all other indirect costs. EXCLUDE the cost of R&D funded by the U.S. affiliate but performed by others. See
instruction 26 starting on page 19.
2403
Expenditures for land and other property, plant, and equipment for FY 2011 — INCLUDE all purchases by, or
transfers (at net book value) to, the U.S. affiliate of land, mineral and timber rights, and other property, plant and
equipment. Also INCLUDE capitalized and expensed exploration and development expenditures. EXCLUDE expenditures
made in prior years that are reclassified in the current year. Also EXCLUDE land and other property, plant and equipment
obtained through the acquisition of or merger with another company during the year. DO NOT net out sales and other
dispositions of property, plant, and equipment from the expenditures reported on this line.
Gross book value (at historical cost) of all land and other property, plant, and equipment at
close of FY 2011

000

2253

27.

000

2
1173

24. Net income (loss) – after provision for U.S. Federal, state, and local income taxes

26.

000

Section B – OTHER FINANCIAL AND OPERATING DATA FOR FY 2011

25.

000

22. Sales not accounted for above – Items 18 through 21 must all have entries if
amounts are entered on this line.

000

1
2390

2397

000

BEA USE ONLY
Page 6

2597

000
FORM BE-15B (REV. 10/2011)

PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE – Continued
Section C – U.S. TRADE IN GOODS BY U.S. AFFILIATE ON A SHIPPED BASIS
Report the value of goods exported and imported by the U.S. affiliate during the fiscal year that ended in calendar year 2011.
EXCLUDE services. Software publishers see the discussion under packaged general use computer software on page 20. Report
amounts on a "shipped basis." See instruction 29–30 on page 20 for details of what to include on these lines.
Bil. Mil. Thous. Dols.
29. TOTAL EXPORTS, INCLUDING CAPITAL GOODS – Shipped by U.S. affiliate to foreign persons (valued f.a.s. U.S. port)
in the fiscal year that ended in calendar year 2011.

2502

30. TOTAL IMPORTS, INCLUDING CAPITAL GOODS – Shipped to U.S. affiliate by foreign persons (valued f.a.s. foreign
port) in the fiscal year that ended in calendar year 2011.

2515

000

Close FY 2011

Section D – BALANCE SHEET
Insurance companies see page 22 for special instructions.

Bil. Mil. Thous. Dols.
1

31. Total assets

2109

000

$
1

32. Total liabilities

2114

33. Total owners’ equity — Item 31 minus item 32

2120

1 3

000

Please check box if total liabilities are zero

000

Section E – SCHEDULE OF EMPLOYMENT BY LOCATION
34. Did you have more than 500 employees in the fiscal year that ended in calendar year 2011
(EXCLUDE contract workers and other workers not carried on the payroll of this U.S. affiliate)?
1102 1
1

Yes – Provide data for up to fifteen primary states in which this affiliate has employees.

No – Provide data for up to five primary states in which this affiliate has employees.

Complete this schedule for the five
or fifteen states (see above) in which
the U.S. affiliate has the most
employees.

1 3

Please check box if you have
no employees

STATE – Enter name
(if applicable, enter name of U.S. territory or possession, or
U.S. off-shore oil and gas sites, on the lines below.)

Number of employees at
the end of FY 2011
3

35.
3

NOTE — if the affiliate has employees
in additional states, beyond the number
requested above, sum the remaining
states on line 50.
Include in this schedule only employees of
those U.S. business enterprises that are fully
consolidated into the reporting U.S. affiliate.
Do not consolidate or include employees of
foreign business enterprises or operations,
whether incorporated or unincorporated.
Include all employees on the payroll at the
end of the fiscal year that ended in calendar
year 2011, including part-time employees.
EXCLUDE contract workers.

36.
3

37.
3

38.
3

39.
3

40.
3

41.
3

42.
3

43.
3

44.
A count taken at some other date during the
reporting period may be given provided it is a
reasonable estimate of the number on the
payroll at the end of the fiscal year.

45.

46.
3

Location of employees is the U.S. state,
territory, or possession in which the person is
permanently employed.
Reporting employment (including how to
report when employment is subject to
unusual variations) is discussed in more
detail in instructions 34–51 on page 21.

52.

47.
3

48.

49.
3

50. Employment not accounted for above

2764

51. TOTAL – Sum of items 35 through 50

2700

Administrative office and other auxiliary employees – Of the total number of employees reported in item 51
above, how many are administrative office and other auxiliary unit employees? INCLUDE employees at
corporate headquarters, central administrative, and regional offices, and operating units that provide
administration and management or support services (such as accounting, data processing, legal, research and
development and testing, and warehousing) to more than one U.S. operating unit. EXCLUDE employees
that provide administration and management or support for one unit.

Number of administrative
and other auxiliary employees
3

1178
1

PLEASE CONTINUE ON PAGE 8
FORM BE-15B (REV. 10/2011)

BEA USE ONLY

2598

Page 7

PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE – Continued
Section F — OTHER FINANCIAL AND OPERATING DATA (MAJORITY-OWNED U.S. AFFILIATES)
53. Did the sum of the ownership interests (both direct and indirect) held by ALL foreign parents in the voting securities (or an
equivalent interest) of this U.S. affiliate EXCEED 50 percent as of the end of the U.S. affiliate’s fiscal year that ended in calendar
year 2011? "Voting interest" is defined in instructions 9–14 starting on page 18.
1101 1

Yes – Answer items 54 through 63

No – STOP. You have completed the BE-15B.
Bil.

NOTE: Complete items 54 through 63 ONLY if item 53 is answered "Yes"
54. Certain gains (losses), included in item 24, net income (loss) – Report at gross amount before income tax
effect. Report income tax effect in item 55 below. See instruction 54 on page 21 for details of what to include on
this line.

Thous. Dols.

1
2151

2156

2400

2401

55. Income taxes – Provision for U.S. Federal, state, and local incomes taxes. INCLUDE the income tax effect of
certain gains (losses) reported in item 54. EXCLUDE production royalty payments.
56. Interest income from all sources (including foreign parents and affiliates), after deduction of taxes
withheld by the payer. Do not net against interest expense (item 57).

Mil.

000

57. Interest expense plus interest capitalized, paid or due to all payees (including to foreign parents and
affiliates), before deduction of U.S. tax withheld by the affiliate. Do not net against interest income (item 56).

000

BEA USE ONLY

000

2599

DISTRIBUTION OF SALES OR GROSS OPERATING REVENUES
Distribute sales or gross operating revenues among three categories — sales of goods, sales of services, and investment income.
For the purpose of this distribution, "goods" are normally outputs that are tangible and "services" are normally outputs that are intangible.
When a sale consists of both goods and services and cannot be unbundled (i.e., the goods and services are not separately billed), classify
the sales as goods or services based on whichever accounts for a majority of the value. Give best estimates if actual figures are not available.
NOTE — BEFORE COMPLETING THIS SECTION, PLEASE SEE THE INSTRUCTIONS FOR ITEMS 58 THROUGH 63 ON PAGE 22.
Insurance companies also see page 22, instruction V.A. for special instructions.
Utilities and Oil & Gas Producers and Distributors — To the extent feasible, revenues are to be allocated between sales of goods and
sales of services. Revenues earned from the sale of a product (e.g., electricity, natural gas, oil, water, etc.) are to be reported as sales of
goods. Revenues earned from the distribution or transmission of a product (e.g., fees received for the use of transmission lines, pipelines,
etc.) are to be reported as sales of services.
Bil.
58. TOTAL SALES OR GROSS OPERATING REVENUES, EXCLUDING SALES TAXES —
Equals item 23, column (2) on page 6, and also sum of items 59 through 61

2243

59. Sales of Goods

2244

60. Investment income included in gross operating revenues. Include ALL interest and dividends generated by
finance and insurance subsidiaries or units.

2245

61. Sales of Services, Total — Sum of items 62 and 63

2246

62.

To U.S. persons or entities

2247

63.

To foreign persons

2257

Mil.

Thous. Dols.

000

Remarks
BEA USE ONLY
1200 1

1201 1

1202 1

1203 1

Page 8

FORM BE-15B (REV. 10/2011)

OMB No. 0608-0034: Approval Expires 08/31/2014
FORM BE-15B
(REV. 10/2011)

U.S. DEPARTMENT OF COMMERCE

Supplement A (2011)

BUREAU OF ECONOMIC ANALYSIS

BEA USE ONLY

Page number

LIST OF ALL U.S. AFFILIATES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE
NOTE — If you filed a Supplement A or a computer printout of Supplement A with your 2010 BE-15 report, in
lieu of completing a new Supplement A, you may substitute a copy of that Supplement A or
computer printout that has been updated to show any additions, deletions, or other changes.

Name of U.S. affiliate as shown on page 1, of BE-15B

Supplement A must be completed by a reporting affiliate that consolidates financial and operating data of any other
U.S. affiliate(s). The number of U.S. affiliates listed below plus the reporting U.S. affiliate must agree with item 7,
Part I of Form BE-15B. Continue listing onto as many additional copied pages as necessary.

Primary Employer Identification Number
as shown in item 3, Part I of BE-15B

If the affiliate has
changed since the last
BEA please
USE ONLY
report,
select
the reason. If it is new,
please select "New".
(1)

Employer Identification
Number used by U.S. affiliate
listed in column (2) to file
income and payroll taxes

Name of each U.S. affiliate consolidated
(as represented in item 7, Part I)

(3)

(2)

5111
5112
5113
5114
5115
5116
5117
5118
5119
5120
5121
5122
5123
5124
5125
5126
5127
5128
5129
5130
5131

Page 9

5132
5133

Name of U.S. affiliate which holds the
direct ownership interest in the U.S.
affiliate listed in column (2)

–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–

(4)

5110

–
Percentage of direct voting
ownership that the U.S.
affiliate named in column (4)
holds in the U.S. affiliate
named in column (2). – Enter
percentage to nearest tenth.
(5)

OMB No. 0608-0034: Approval Expires 08/31/2014
Page 10

BE-15B Supplement A (2011) – LIST OF ALL U.S. AFFILIATES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE – Continued

If the affiliate has
changed since the
BEA
USE please
ONLY
last
report,
select the reason.
If it is new, please
select "New".
(1)

Employer Identification
Number used by U.S. affiliate
listed in column (2) to file
income and payroll taxes

Name of each U.S. affiliate consolidated
(as represented in item 7, Part I)

(3)

(2)

5134
5135
5136
5137
5138
5139
5140
5141
5142
5143
5144
5145
5146
5147
5148
5149
5150
5151
5152
5153
5154
FORM BE-15A (REV. 10/2011)

5155
5156
5157
5158
5159

Name of U.S. affiliate which holds the
direct ownership interest in the U.S.
affiliate listed in column (2)

–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–

Page number
Percentage of direct voting
ownership that the U.S.
affiliate named in column (4)
holds in the U.S. affiliate
named in column (2). – Enter
percentage to nearest tenth.

(4)

(5)

OMB No. 0608-0034: Approval Expires 08/31/2014
FORM BE-15B
(REV. 10/2011)

U.S. DEPARTMENT OF COMMERCE BEA USE ONLY

Supplement B (2011)

Name of U.S. affiliate as shown on page 1, of BE-15B

LIST OF ALL U.S. AFFILIATES IN WHICH THE REPORTING AFFILIATE (AS CONSOLIDATED) HAS A
DIRECT OWNERSHIP INTEREST BUT WHICH ARE NOT FULLY CONSOLIDATED
NOTE – If you filed a Supplement B or a computer printout of Supplement B with your 2010 BE-15 report, in
lieu of completing a new Supplement B, you may substitute a copy of that Supplement B or
computer printout that has been updated to show any additions, deletions, or other changes.
Supplement B must be completed by a reporting affiliate which files a BE-15B and has a direct ownership interest in a
U.S. affiliate(s) which is (are) not fully consolidated. The number of U.S. affiliates listed below must agree with item 8,
Part I, of BE-15B. Continue listing onto as many additional copied pages as necessary.
If the affiliate has
changed since the last
BEA please
USE ONLY
report,
select
the reason. If it is new,
please select "New".

Address of each U.S. affiliate
listed in column (2)
Give number, street, city, state, and
ZIP Code

Name of each U.S. affiliate in which a
direct interest is held but that is not
listed in Supplement A
(2)

(1)
1

(3)
3

Has each
affiliate been
notified of
obligation to
file? Mark (X)
one
(4)

Yes

Page 11

6221

–

Yes

–

Yes

–

Yes

–

Yes

–

Yes

–

Yes

–
6

–
5

5
1

.
6

6220
1

–

5
1

Percentage of direct voting
ownership interest that the fully
consolidated U.S. affiliate named
on page 1 of this Form BE-15B,
holds in the U.S. affiliate named in
column (2). – Enter percentage to
nearest tenth.
(6)
6

6219
1

Yes

6218
1

6217

(5)

6216
1

6215
1

6214
1

Yes

6213
1

6212

Employer Identification
Number used by U.S. affiliate
listed in column (2) to file
income and payroll taxes

6211
1

Page number

BUREAU OF ECONOMIC ANALYSIS

–

Summary of Industry Classifications
Agriculture, Forestry, Fishing, And Hunting
1110
1120
1130
1140
1150

Crop production
Animal production
Forestry and logging
Fishing, hunting, and trapping
Support activities for agriculture
and forestry

Mining
2111
2121
2123
2124
2125
2126
2127
2132
2133

Oil and gas extraction
Coal
Nonmetallic minerals
Iron ores
Gold and silver ores
Copper, nickel, lead, and zinc ores
Other metal ores
Support activities for oil and gas
operations
Support activities for mining, except
for oil and gas operations

Utilities
2211
2212
2213

Electric power generation,
transmission, and distribution
Natural gas distribution
Water, sewage, and other systems

Construction
2360
2370
2380

Construction of buildings
Heavy and civil engineering construction
Specialty trade contractors

3334
3335
3336
3339
3341
3342
3343
3344
3345
3346
3351
3352
3353
3359
3361
3362
3363
3364
3365
3366
3369
3370
3391
3399
4231

3111
3112
3113
3114

4232
4233
4234

3115
3116
3117
3118
3119
3121
3122
3130
3140
3150
3160
3210
3221
3222
3231
3242
3243
3244
3251
3252
3253
3254
3255
3256
3259
3261
3262
3271
3272
3273
3274
3279
3311
3312
3313
3314
3315
3321
3322
3323
3324
3325
3326
3327
3328
3329
3331
3332
3333

Page 12

5152
5171
5172
5174
5179
5182
5191

4235
4236
4237
4238
4239

Motor vehicles and motor vehicle
parts and supplies
Furniture and home furnishing
Lumber and other construction materials
Professional and commercial
equipment and supplies
Metal and mineral (except petroleum)
Electrical and electronic goods
Hardware, and plumbing and heating
equipment and supplies
Machinery, equipment, and supplies
Miscellaneous durable goods

Wholesale Trade, Non-Durable Goods
4241
4242
4243
4244
4245
4246
4247
4248
4249

Paper and paper product
Drugs and druggists’ sundries
Apparel, piece goods, and notions
Grocery and related product
Farm product raw material
Chemical and allied products
Petroleum and petroleum products
Beer, wine, and distilled alcoholic beverage
Miscellaneous nondurable goods

Wholesale Trade, Electronic Markets
and Agents And Brokers
4251

Wholesale electronic markets and
agents and brokers

Retail Trade
4410
4420
4431
4440
4450
4461
4471
4480
4510
4520
4530
4540

Motor vehicle and parts dealers
Furniture and home furnishings
Electronics and appliance
Building material and garden
equipment and supplies dealers
Food and beverage
Health and personal care
Gasoline stations
Clothing and clothing accessories
Sporting goods, hobby, book, and music
General merchandise
Miscellaneous store retailers
Non-store retailers

Transportation and Warehousing
4810
4821
4833
4839
4840
4850
4863
4868
4870
4880
4920
4932
4939

Air transportation
Rail transportation
Petroleum tanker operations
Other water transportation
Truck transportation
Transit and ground passenger
transportation
Pipeline transportation of crude oil, refined
petroleum products, and natural gas
Other pipeline transportation
Scenic and sightseeing transportation
Support activities for transportation
Couriers and messengers
Petroleum storage for hire
Other warehousing and storage

Information
5111
5112
5121
5122
5151

Newspaper, periodical, book, and
directory publishers
Software publishers
Motion picture and video industries
Sound recording industries
Radio and television broadcasting

Cable and other subscription
programming
Wired telecommunications carriers
Wireless telecommunications carriers,
except satellite
Satellite telecommunications
Other telecommunications
Data processing, hosting, and related services
Other information services

Finance and Insurance
5221
5223
5224
5229
5231
5238
5242
5243
5249
5252

Depository credit intermediation (Banking)
Activities related to credit intermediation
Nondepository credit intermediation
Nondepository branches and agencies
Securities and commodity contracts
intermediation and brokerage
Other financial investment activities and
exchanges
Agencies, brokerages, and other
insurance related activities
Insurance carriers, except life insurance
carriers
Life insurance carriers
Funds, trusts, and other finance vehicles

Real Estate and Rental and Leasing
5310
5321
5329
5331

Wholesale Trade, Durable Goods

Manufacturing
Animal foods
Grain and oilseed milling
Sugar and confectionery products
Fruit and vegetable preserving and
specialty foods
Dairy products
Meat products
Seafood product preparation and
packaging
Bakeries and tortillas
Other food products
Beverages
Tobacco
Textile mills
Textile product mills
Apparel
Leather and allied products
Wood products
Pulp, paper, and paperboard mills
Converted paper products
Printing and related support activities
Integrated petroleum refining and
extraction
Petroleum refining without extraction
Asphalt and other petroleum and
coal products
Basic chemicals
Resins, synthetic rubbers, and
artificial and synthetic fibers and
filaments
Pesticides, fertilizers, and other
agricultural chemicals
Pharmaceuticals and medicines
Paints, coatings, and adhesives
Soap, cleaning compounds, and
toilet preparations
Other chemical products and
preparations
Plastics products
Rubber products
Clay products and refractories
Glass and glass products
Cement and concrete products
Lime and gypsum products
Other nonmetallic mineral products
Iron and steel mills and ferroalloys
Steel products from purchased steel
Alumina and aluminum production
and processing
Nonferrous metal (except aluminum)
production and processing
Foundries
Forging and stamping
Cutlery and handtools
Architectural and structural metals
Boilers, tanks, and shipping containers
Hardware
Spring and wire products
Machine shops; turned products; and
screws, nuts, and bolts
Coating, engraving, heat treating,
and allied activities
Other fabricated metal products
Agriculture, construction, and mining
machinery
Industrial machinery
Commercial and service industry machinery

Ventilation, heating, air-conditioning,
and commercial refrigeration equipment
Metalworking machinery
Engines, turbines, and power
transmission equipment
Other general purpose machinery
Computer and peripheral equipment
Communications equipment
Audio and video equipment
Semiconductors and other
electronic components
Navigational, measuring, electromedical,
and control instruments
Manufacturing and reproducing
magnetic and optical media
Electric lighting equipment
Household appliances
Electrical equipment
Other electrical equipment and
components
Motor vehicles
Motor vehicle bodies and trailers
Motor vehicle parts
Aerospace products and parts
Railroad rolling stock
Ship and boat building
Other transportation equipment
Furniture and related products
Medical equipment and supplies
Other miscellaneous manufacturing

Real estate
Automotive equipment rental and leasing
Other rental and leasing services
Lessors of nonfinancial intangible assets,
except copyrighted works

Professional, Scientific, and Technical
Services
5411
5412
5413
5414
5415
5416
5417
5418
5419

Legal services
Accounting, tax preparation, bookkeeping,
and payroll services
Architectural, engineering, and related
services
Specialized design services
Computer systems design and related
services
Management, scientific, and technical
consulting services
Scientific research and development
services
Advertising, public relations, and related
services
Other professional, scientific, and
technical services

Management of Companies and Enterprises
5512
5513

Holding companies, except bank holding
companies
Corporate, subsidiary, and regional
management offices

Administrative and Support, Waste
Management, and Remediation Services
5611
5612
5613
5614
5615
5616
5617
5619
5620

Office administrative services
Facilities support services
Employment services
Business support services
Travel arrangement and reservation
services
Investigation and security services
Services to buildings and dwellings
Other support services
Waste management and remediation
services

Educational Services
6110

Educational services

Health Care and Social Assistance
6210
6220
6230
6240

Ambulatory health care services
Hospitals
Nursing and residential care facilities
Social assistance

Arts, Entertainment, and Recreation
7110
7121
7130

Performing arts, spectator sports, and
related industries
Museums, historical sites, and similar
institutions
Amusement, gambling, and recreation
industries

Accommodation and Food Services
7210
7220

Accommodation
Food services and drinking places

Other Services
8110
8120
8130

Repair and maintenance
Personal and laundry services
Religious, grantmaking, civic, professional,
and similar organizations

Public Administration
9200

Public administration
FORM BE-15B (REV. 10/2011)

2011 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES
BE-15B INSTRUCTIONS
NOTE: Instructions in section IV are cross referenced by number to the items located on pages 2 to 12 of this form.
Authority – This survey is being conducted pursuant to 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 pursuant to Section 5(b)(2) of the Act (22 U.S.C.
3104).
A response is required from persons (in the broad sense, including
companies) subject to the reporting requirements of the BE-15 survey,
whether or not they are contacted by BEA. Also, persons contacted by BEA
concerning their being subject to reporting, either by sending them a report
form or by written inquiry, must respond pursuant to section 806.4 of 15 CFR,
Chapter VIII. This may be accomplished by completing and submitting Form
BE-15A, BE-15B, BE-15(EZ), or BE-15 Claim For Exemption, whichever is
applicable, by May 31, 2012.
PENALTIES – Whoever fails to report shall be subject to a civil penalty of not
less than $2,500, and not more than $25,000, and to injunctive relief
commanding such person to comply, or both. These civil penalties are subject
to inflationary adjustments. Those adjustments are found in 15 CFR 6.4.
Whoever willfully fails to report shall be fined not more than $10,000 and, 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 violations, upon conviction, may be punished by a like fine, imprisonment
or both (22 U.S.C. 3105).
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. The control number for this survey is at the top of
page 1 of this form.
Respondent Burden – Public reporting burden for this BE-15B is estimated
to vary from 75 minutes to 9 hours per response, with an average of 3.5 hours
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, Washington, DC 20230; and to the
Office of Management and Budget, Paperwork Reduction Project 0608-0034,
Washington, DC 20503.
CONFIDENTIALITY – The Act provides that your report to this Bureau 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.
I. REPORTING REQUIREMENTS
To determine which BE-15 report to file, read the following sections on this
page and review the flow chart on page 14.
A. Who must report – A BE-15 report is required for each U.S. affiliate,
i.e., for each U.S. business enterprise in which a foreign person or entity
owned or controlled, directly or indirectly, 10 percent or more of the voting
securities if an incorporated U.S. business enterprise, or an equivalent
interest if an unincorporated U.S. business enterprise, at the end of the
business enterprise’s fiscal year that ended in calendar year 2011.
Foreign ownership interest – All direct and indirect lines of ownership
held by a foreign person in a given U.S. business enterprise must be
summed to determine if the enterprise is a U.S. affiliate of the foreign person
for purposes of reporting.
Indirect ownership interest in a U.S. business enterprise is the
product of the direct ownership percentage of the foreign parent in the first
U.S. business enterprise in the ownership chain multiplied by that first
enterprise’s direct ownership percentage in the second U.S. business
enterprise, multiplied by each succeeding direct ownership percentage of
each other intervening U.S. business enterprise in the ownership chain
between the foreign parent and the given U.S. business enterprise.

FORM BE-15B (REV. 10/2011)

Example: In the diagram below, foreign person A owns 100% of the
voting stock of U.S. affiliate B; U.S. affiliate B owns 50% of the voting stock
of U.S. affiliate C; and U.S. affiliate C owns 25% of the voting stock of U.S.
affiliate D. Therefore, U.S. affiliate B is 100% directly owned by foreign
person A; U.S. affiliate C is 50% indirectly owned by foreign person A; and
U.S. affiliate D is 12.5% indirectly owned by foreign person A.
Calculation of Foreign Ownership
Foreign
U.S.

Foreign person A
↓ 100%
U.S. affiliate B
100% directly owned
by foreign person A
↓ 50%
U.S. affiliate C
100% x 50% = 50% indirectly
owned by foreign person A

↓ 25%
U.S. affiliate D
100% x 50% x 25% = 12.5%
indirectly owned by foreign person A
NOTE: Arrows connecting boxes represent direction of ownership.
A report is required even though the foreign person’s voting interest in the
U.S. business enterprise may have been established or acquired during the
reporting period.
Beneficial, not record, ownership is the basis of the reporting criteria.
Voting securities, voting stock, and voting interest all have the same
general meaning and are used interchangeably throughout these
instructions and the report forms.
Airline and ship operators – U.S. stations, ticket offices, and
terminal and port facilities of foreign airlines and ship operators that
provide services ONLY to the foreign airlines’ and ship operators’ own
operation are not required to report. Reports are required when such
enterprises produce significant revenues from services provided to
unaffiliated persons.
Agencies and representative offices – U.S. representative offices,
agents, and employees of a foreign person or entity that meet the criteria
outlined below are not considered to be U.S. affiliates, and therefore,
should not be reported on Forms BE-15A, BE-15B, or BE-15(EZ).
However, a foreign person’s or entity’s disbursements to maintain U.S.
sales and representative offices must be reported on Form BE-125,
Quarterly Survey of Transactions in Selected Services and Intangible
Assets with Foreign Persons. Copies of Form BE-125 are available on the
BEA Web site at: www.bea.gov/surveys/iussurv.htm
A U.S. presence of a foreign person or entity (or their representative(s))
is considered a U.S. sales promotion or representative office if:
1. It is engaged only in sales promotion, representational activities,
public relations activities, or the gathering of market information, on
behalf of the foreign person or entity;
2. It does not produce revenue (other than funds from the foreign
person or entity to cover its expenses); and
3. It has minimal assets held either in its own name or in the name of
the foreign person or entity.
A U.S. presence of a foreign person or entity (or their representative(s))
that produces revenue for its own account from goods or services it
provides to others is considered a U.S. affiliate and is subject to the
BE-15 reporting requirements.

Page 13

I. REPORTING REQUIREMENTS – Continued
1. Which form to file – Please review the questions and the flow
chart below to determine if your U.S. business is required to file
Form BE-15. Blank forms can be found at: www.bea.gov/fdi

i. Did any one of the items – Total assets, Sales or gross operating
revenues, or Net income (loss) – for the U.S. affiliate (not just the
foreign parent’s share) exceed $275 million at the end of, or for, its
fiscal year that ended in calendar year 2011?
Yes – File Form BE-15A by May 31, 2012.
No – File Form BE-15B by May 31, 2012.

a. Were at least 10 percent of the voting rights in your business
directly or indirectly owned by a foreign person or entity at the
end of your fiscal year that ended in calendar year 2011?

Which 2011 BE-15 Form to File?

Yes – Continue with question b. NOTE: Your business is
hereinafter referred to as a "U.S. affiliate."

At least 10 percent voting interest directly
and/or indirectly owned by a foreign person?

No – You are not required to file Form BE-15B. File Form BE-15
Claim for Exemption by May 31, 2012.
b. Were more than 50 percent of the voting rights in this U.S. affiliate
owned by another U.S. affiliate at the end of this U.S. affiliate’s fiscal
year that ended in calendar year 2011?
Yes – Continue with question c.
No – Skip to question d.

Yes

More than 50 percent of the voting rights owned by
another U.S. affiliate at end of the fiscal year ending in
calendar year 2011?

Yes

c. Do different foreign persons hold a direct and an indirect ownership
interest in this U.S. affiliate (exception c to the consolidation rules)?
(The consolidation rules are found in instruction IV.2. starting on
page 16.)

Do different foreign persons hold a direct and indirect
ownership interest in the U.S. affiliate (exception c to the
consolidation rules found in instruction IV.2. on page 16)?

Yes – Continue with question d.
No – This U.S. affiliate must be consolidated on the BE-15
report of the U.S. affiliate that owns it more than 50 percent.
File the BE-15 Claim for Exemption with page 1 and item 2(d)
on page 3 completed by May 31, 2012, forward this survey
packet to the U.S. affiliate that owns this affiliate more than
50 percent, and have them consolidate your data into their
report.

Yes

This U.S. affiliate must be consolidated on the
BE-15 report of the U.S. affiliate that owns it more
than 50 percent. File Form BE-15 Claim for
Exemption.

d. Did any one of the items – Total assets, Sales or gross operating
revenues, or Net income (loss) – for the U.S. affiliate (not just the
foreign parent’s share) exceed $40 million at the end of, or for, its
fiscal year that ended in calendar year 2011?
Yes – Continue with question e.
No – You are not required to file a Form BE-15B. File
Form BE-15 Claim for Exemption by May 31, 2012.

Assets, sales, or net income (loss) greater than
$40 million?

e. Did any one of the items – Total assets, Sales or gross operating
revenues, or Net income (loss) – for the U.S. affiliate (not just the
foreign parent’s share) exceed $120 million at the end of, or for, its
fiscal year that ended in calendar year 2011?

Yes

No
File Form BE-15 Claim
for Exemption

Yes – Skip to question h.
No – Continue with question f.

Assets, sales, or net income (loss) greater than
$120 million?

f. Did you file either a BE-12 or a BE-15 for a fiscal year that
ended BEFORE January 1, 2011?
Yes – Continue with question g.
No – File Form BE-15(EZ) by May 31, 2012.

Yes

Majority-Owned directly and/or
indirectly by foreign parents?

Did you file either a BE-12 or a BE-15
for a fiscal year that ended BEFORE
January 1, 2011?

g. Did you receive a request in writing from BEA to file a BE-15 for the
fiscal year that ended in calendar year 2011?
Yes

Yes – File Form BE-15(EZ) by May 31, 2012.
No – You are not required to file a BE-15 for your fiscal year
that ended in calendar year 2011. However, please inform
BEA if your affiliate name, address, or contact person has
changed.
h. Was the U.S. affiliate majority-owned by its foreign parent(s) at the
end of its fiscal year that ended in calendar year 2011? (A U.S.
affiliate is "majority-owned" if the combined direct and indirect
ownership interests of all foreign parents of the U.S. affiliate exceed
50 percent.)
Yes – Continue with question i.
No – File Form BE-15B by May 31, 2012.

Page 14

File Form BE-15
Claim for Exemption

Yes
Did you receive a
request in writing
from BEA to file a
2011 BE-15?

File Form
BE-15B

Assets, sales, or net
income (loss) greater
than $275 million?

Yes

File Form
BE-15A

File Form
BE-15B

Yes

File Form
BE-15(EZ)

You are not required to file a BE-15 for
your fiscal year that ended in calendar
year 2011. However, please inform
BEA if your affiliate name, address, or
contact person has changed.
FORM BE-15B (REV. 10/2011)

Example A

I. REPORTING REQUIREMENTS – Continued
2. Who must file Form BE-15B – 2011 Annual Survey of
Foreign Direct Investment in the United States?
A Form BE-15B must be completed and filed by
May 31, 2012, by each U.S. business enterprise that was a U.S.
affiliate of a foreign person at the end of its fiscal year that ended in
calendar year 2011, if:
a. On a fully consolidated, or, in the case of real estate
investments, an aggregated basis, any one of the
following three items – Total assets (do not net out liabilities), or
Sales or gross operating revenues, excluding sales
taxes, or Net income after provision for U.S. income taxes – for
the U.S. affiliate (not just the foreign parent’s share) exceeded
$120 million (positive or negative) at the end of, or for, its fiscal
year that ended in calendar year 2011, and EITHER b. OR c.
below is applicable.
b. The ownership or control (both direct and indirect) by all foreign
parents in the voting securities of an incorporated U.S.
business enterprise (or an equivalent interest of an unincorporated
U.S. business enterprise) at the end of the fiscal year that ended
in calendar year 2011, was 50 percent or less (i.e., the voting
securities, or equivalent interest were not majority owned by
foreign parents), or
c. On a fully consolidated, or, in the case of real estate investments,
on an aggregated basis, no one of the following three items –
Total assets (do not net out liabilities), or Sales or gross
operating revenues, excluding sales taxes, or Net income after
provision for U.S. income taxes – for the U.S. affiliate (not just the
foreign parent’s share) exceeded $275 million (positive or
negative) at the end of, or for, its fiscal year that ended in
calendar year 2011.
B. Aggregation of real estate investments – Aggregate all real
estate investments of a foreign person for the purpose of applying the
reporting criteria. Use a single report form to report the aggregate
holdings, unless BEA has granted permission to do otherwise. Those
holdings not aggregated must be reported separately. Real estate is
discussed more fully in instruction V.C. starting on page 22.
C. Aggregated reporting for banks – All U.S. branches and agencies
(including International Banking Facilities) directly owned by a foreign bank
may be aggregated on a single BE-15.
U.S. branches and agencies, directly owned by the foreign parent, that are
aggregated on this report should be counted separately and listed
separately on the Supplement A to this form. See Example A in the next
column.
U.S. branches and agencies, owned by a U.S. bank affiliate, should be
consolidated on this report but not counted separately and not listed
separately on the Supplement A to this form. See Example B in the next
column.
(Note that subsequent filings of Form BE-605 quarterly reports with
BEA, if required, must be on the same aggregated basis.) If all U.S.
branches and agencies directly owned by a foreign bank are not
aggregated on a single report, then each branch or agency must file a
separate BE-15.

Foreign Parent
Bank A

Foreign
U.S.

Miami
Branch
Los Angeles
Branch

New York City
Branch

Data for all three branches (Miami, Los Angeles, and New
York City) owned by Foreign Parent Bank A may be
aggregated on a single BE-15. If aggregated, list all three
branches on the Supplement A to this form. Report "3" as
the number of U.S. branches aggregated for item 7 on page
2 of this form.
Example B
Foreign Parent
Foreign
U.S.

U.S. Bank B
Branch 1

Branch 3

Branch 2
Consolidate data for each branch (branch 1, branch 2, and
branch 3) and U.S. Bank B on a single BE-15. DO NOT list
them on the Supplement A. Report "1" as number of U.S.
affiliates consolidated for item 7 on page 2 of this form.
II. DEFINITIONS
A. 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.
B. 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.
C. Person, means any individual, branch, partnership, association,
associated group, estate, trust, corporation, or other organization
(whether or not organized under the laws of any state), and any
government (including a foreign government, the U.S. Government, a
state or local government, and any agency, corporation, financial
institution, or other entity or instrumentality thereof, including a
government sponsored agency).
D. Associated group means two or more persons who, by the
appearance of their actions, by agreement, or by an understanding,
exercise their voting privileges in a concerted manner to influence the
management of a business enterprise. The following are deemed to be
associated groups:
1. Members of the same family.
2. A business enterprise and one or more of its officers or directors.
3. Members of a syndicate or joint venture.
4. A corporation and its domestic subsidiaries.
E. Foreign person means any person resident outside the United
States or subject to the jurisdiction of a country other than the
United States.
F. 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 business enterprise or an equivalent
interest in an unincorporated business enterprise.

FORM BE-15B (REV. 10/2011)

Page 15

II. DEFINITIONS – Continued

III. GENERAL INSTRUCTIONS

G. Foreign direct investment in the United States means the
ownership or control, directly or indirectly, by one foreign person of
10 percent or more of the voting securities of an incorporated U.S.
business enterprise or an equivalent interest in an unincorporated
U.S. business enterprise, including a branch.

A. Changes in the reporting entity – DO NOT restate close fiscal
year 2010 balances for changes in the consolidated reporting entity that
occurred during fiscal year 2011. The close fiscal year 2010 balances
should represent the reporting entity as it existed at the close of fiscal
year 2010.

H. 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.

B. Required information not available – Make all reasonable efforts
to obtain the information required for reporting. Answer every question
except where specifically exempt. Indicate when only partial information
is available.

I. Branch means the operations or activities conducted by a person in a
different location in its own name rather than through an incorporated
entity.
J. 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 enterprise or an equivalent interest for an
unincorporated business enterprise, including a branch.
K. U.S. affiliate means an affiliate located in the United States in which a
foreign person has a direct investment.
1. Majority-owned U.S. affiliate means a U.S. affiliate in which
the combined direct and indirect voting interest of all foreign
parents of the U.S. affiliate exceeds 50 percent.
2. Minority-owned U.S. affiliate means a U.S. affiliate in
which the combined direct and indirect voting interest of all
foreign parents of the U.S. affiliate is 50 percent or less.
L. Foreign parent means the foreign person, or the first person outside
the United States in a foreign chain of ownership, which has direct
investment in a U.S. business enterprise, including a branch.
M. U.S. corporation means a business enterprise incorporated in the
United States.
N. Intermediary means any agent, nominee, manager, custodian,
trust, or any person acting in a similar capacity.
O. Ultimate beneficial owner (UBO) is that person, proceeding up
the ownership chain beginning with and including the foreign parent,
that is not more than 50 percent owned or controlled by another
person. Note: Stockholders of a closely or privately held corporation
are normally considered to be an associated group and may be a
UBO.
P. Banking covers business enterprises engaged in deposit
banking or closely related functions, including commercial banks,
Edge Act corporations engaged in international or foreign banking,
foreign branches and agencies of U.S. banks whether or not they
accept deposits abroad, U.S. branches and agencies of foreign banks
whether or not they accept domestic deposits, savings and loans,
savings banks, bank holding companies, and financial holding
companies under the Gramm-Leach-Bliley Act.
Q. 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.
1. Capital lease – A long-term lease under which a sale of the
asset is recognized at the inception of the lease. These may be
shown as lease contracts or accounts receivable on the lessor’s
books. The asset would not be considered as owned by the
lessor.

C. Estimates – If actual figures are not available, please provide
estimates and label them as such. When items cannot be fully
subdivided as required, provide totals and an estimated breakdown of
the totals.
Certain sections of the Form BE-15B require data that may not normally
be maintained in a company’s customary accounting records. Precise
answers for these items may present the respondent with a substantial
burden beyond what is intended by BEA. This may be especially true for
items 29 and 30, U.S. trade in goods by U.S. affiliate on a shipped basis;
items 35 through 51, employment data disaggregated by State; and items
58 through 63, distribution of sales or gross operating revenues by
whether the sales were goods, investment income, or services, and the
distribution of services by transactor. Therefore, the answers in these
sections may be reasonable estimates based upon the informed judgment
of persons in the responding organization, sampling techniques, prorations
based on related data, etc. However, the estimating procedures used
should be consistently applied on all BEA surveys.
D. Space on form insufficient – When space on a form is insufficient to
permit a full answer to any item, provide the required information on
supplementary sheets, appropriately labeled and referenced to the item
number on the form.
IV. INSTRUCTIONS FOR SPECIFIC
SECTIONS OF THE REPORT FORM
NOTE: Instructions in section IV. are cross referenced by number to
the items located on pages 2 to 12 of this form.
PART I – IDENTIFICATION OF U.S. AFFILIATE
2. Consolidation Rules
Consolidated reporting by the U.S. affiliate – A U.S. affiliate
must file on a fully consolidated domestic U.S. basis, including in the
full consolidation all U.S. business enterprises in which it directly or
indirectly owns more than 50 percent of the outstanding voting interest.
The fully consolidated entity is considered one U.S. affiliate.
A foreign person holding real estate investments that are reportable on
the BE-15 must aggregate all such holdings. See Instruction I.B. on page
15 and V.C. starting on page 22 for details.
Do not prepare your BE-15 report using the proportionate consolidation
method. Except as noted in 2b. and 2c. on page 17, consolidate all
majority-owned U.S. affiliates into your BE-15 report.
Unless the exceptions discussed below apply, any
deviation from these consolidation rules must be approved
in writing each year by BEA. If you file deconsolidated reports,
you must file the same type of reports (i.e., BE-15A or BE-15B) that
would have been required if a consolidated report was filed.
Report majority-owned subsidiaries, if not consolidated, on the BE-15B
using the equity method of accounting. DO NOT eliminate intercompany
accounts (e.g., receivables or liabilities) for affiliates not consolidated.

2. Operating lease – Generally, a lease with a term which is less
than the useful life of the asset and a transfer of ownership is not
contemplated.

Page 16

FORM BE-15B (REV. 10/2011)

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
Exceptions to consolidated reporting – Note: If a U.S. affiliate is
not consolidated into its U.S. parent’s BE-15 report, then it must be
listed on the Supplement B of its parent’s BE-15 report, unless the
report is a BE-15(EZ) which does not have a Supplement B, and each
U.S. affiliate not consolidated must file its own Form BE-15.
a. DO NOT CONSOLIDATE FOREIGN SUBSIDIARIES,
BRANCHES, OPERATIONS, OR INVESTMENTS NO
MATTER WHAT THE PERCENTAGE OWNERSHIP.
Include foreign holdings owned 20 percent or more using either the
equity method of accounting or fair value accounting. DO NOT
report employment, land, and other property, plant, and equipment and
DO NOT eliminate intercompany accounts (e.g., receivables or
liabilities) for holdings reported using the equity method or fair value
accounting.
DO NOT list any foreign holdings of the U.S. affiliate on the
Supplement B.
Oil and gas sites owned by U.S. affiliates and located outside of U.S.
claimed territorial waters are to be treated as foreign subsidiaries of the
U.S. affiliates if they meet one of the following criteria: (1) they are
incorporated in a foreign country; (2) they are set up as a branch; or (3)
they have a physical presence in a foreign country as evidenced by
property, plant and equipment or employees located in that country.
Real estate located outside the United States that is owned by the U.S.
affiliate and generates revenues for, or reimbursements to, the U.S.
affiliate, or that facilitates the foreign operations of the U.S. affiliate is a
foreign subsidiary and should not be consolidated on this BE-15 report.
b. Special consolidation rules apply to U.S. affiliates that
are limited partnerships or that have an ownership
interest in a U.S. limited partnership. These rules can be
found on our web site at: www.bea.gov/ltdpartner15. Also see
instruction 6.b. on page 18 for additional information about
partnerships.
c. A U.S. affiliate in which a direct ownership interest and an indirect
ownership interest are held by different foreign persons should not
be fully consolidated into another U.S. affiliate, but must complete
and file its own Form BE-15 report. (See diagram below.)

Foreign person B

Foreign person A

Foreign
U.S.

100%

Special Circumstances:
a. U.S. affiliates without a financial reporting year – If a U.S.
affiliate does not have a financial reporting year, its fiscal year is
deemed to be the same as calendar year 2011.
b. Change in fiscal year
(1) New fiscal year ends in calendar year 2011 – A U.S.
affiliate that changed the ending date of its financial reporting
year should file a 2011 BE-15 report that covers the 12 month
period prior to the new fiscal year end date. The following
example illustrates the reporting requirements.
Example 1: U.S. affiliate A had a June 30, 2010 fiscal year end
date but changed its 2011 fiscal year end date to March 31.
Affiliate A should file a 2011 BE-15 report covering the 12 month
period from April 1, 2010 to March 31, 2011.
(2) No fiscal year ending in calendar year 2011 – If a
change in fiscal year results in a U.S. affiliate not having a
fiscal year that ended in calendar year 2011, the affiliate
should file a 2011 BE-15 report that covers 12
months. The following example illustrates the reporting
requirements.
Example 2: U.S. affiliate B had a December 31, 2010 fiscal
year end date but changed its next fiscal year end date to March
31. Instead of having a short fiscal year ending in 2011, affiliate
B decides to have a 15 month fiscal year running from January 1,
2011 to March 31, 2012. Affiliate B should file a 2011 BE-15
report covering a 12 month period ending in calendar year 2011,
such as the period from April 1, 2010 to March 31, 2011.
For 2012, assuming no further changes in the fiscal year end date
occur, affiliate B should file a BE-15 report covering the 12 month
period from April 1, 2011 to March 31, 2012.
5. Reporting for a U.S. business that became a U.S. affiliate during fiscal year 2011 —
a. A U.S. business enterprise that was newly established
in fiscal year 2011 should file a report for the period starting with
the establishment date up to and ending on the last day of its fiscal
year that ended in calendar year 2011. DO NOT estimate amounts
for a full year of operations if the first fiscal year is less than 12
months.
b. A U.S. business enterprise existing before fiscal year
2011 that became a U.S. affiliate in fiscal year 2011
should file a report covering a full 12 months of operations.
6. Reporting by unincorporated U.S. affiliates

U.S. affiliate X
30%

60%
U.S. affiliate Y

U.S. affiliate Y may not be fully consolidated into U.S. affiliate X
because of the 30 percent direct ownership by foreign person B.
NOTE: Arrows connecting boxes represent direction of ownership.
If this exception applies, reflect the indirect ownership interest, even if
more than 50 percent, on the balance sheet and income statement of
the owning U.S. affiliate’s BE-15 report on an equity basis. For
example, using the situation shown in the diagram above, U.S. affiliate
X must treat its 60 percent ownership interest in U.S. affiliate Y as an
equity investment. DO NOT eliminate intercompany accounts (e.g.,
receivables or liabilities) for affiliates not consolidated.
4. Reporting period – The report covers the U.S. affiliate’s 2011 fiscal
year. The affiliate’s 2011 fiscal year is defined as the affiliate’s financial
reporting year that had an ending date in calendar year 2011.
FORM BE-15B (REV. 10/2011)

a. Directly owned vs. Indirectly owned
(1) Directly owned – Each unincorporated U.S. affiliate, including
a branch, that is directly owned 10 percent or more by a foreign
person should file a separate BE-15 report. Do not combine two
or more directly owned U.S. affiliates on a single BE-15 report.
The only exceptions are for U.S. affiliates that are real estate
investments or banks. See Instruction I.B. on page 15 and
Instruction V.C. on page 22 for details on real estate. See
Instruction I.C. on page 15 for details on banks.
(2) Indirectly owned – Except as noted in the exceptions to the
consolidation rules above, an indirectly owned unincorporated
U.S. affiliate that is owned more than 50 percent (voting interest)
by another U.S. affiliate should be fully consolidated on the report
with the U.S. affiliate that holds the voting interest greater than 50
percent. An indirectly owned unincorporated U.S. affiliate owned
50 percent (voting interest) or less by another U.S. affiliate should
file a separate BE-15 report if no other U.S. affiliate owns a
voting interest of more than 50 percent.
Page 17

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
b. Partnerships – Most partnerships are either general partnerships
or limited partnerships. A general partnership usually consists of at
least two general partners who together control the partnership. A
limited partnership usually consists of at least one general partner
and one limited partner. The general partner usually controls a
limited partnership. The limited partner has a financial interest but
does not usually have any voting rights (control) in a limited
partnership.

Managing partners – See discussion under
"General Partnerships" above.
(b) Consolidation Rules
Special consolidation rules apply to U.S.
affiliates that are limited partnerships or that
have an ownership interest in a U.S. limited
partnership. These rules can be found on our web site
at: www.bea.gov/ltdpartner15
c. Limited Liability Companies (LLCs)
Determination of voting interest – "Voting interest" is defined
in instruction 9-14 below. The determination of the percentage of
voting interest in an LLC is based on who controls the LLC. The
percentage of voting interest is not based on the percentage of
ownership in the LLC’s equity. LLCs are presumed to be controlled
equally by each of its members (owners), unless a clause to the
contrary is contained in the articles of organization or in the
operating agreement. For example, if an LLC has two members,
and nothing to the contrary is contained in the articles of
organization or in the operating agreement, then each member is
presumed to have a 50 percent voting interest in the LLC; if there
are three members, then each member is presumed to have a
one-third voting interest in the LLC.

Partners without voting rights (control) cannot have direct investment in
a partnership. Therefore, limited partners do not usually have direct
investment. The existence of direct investment in a partnership is
determined by the percentage of control exercised by the partner(s).
The percentage of control exercised by a partner may differ from its
financial interest in the partnership.
(1) General Partnerships
Determination of voting interest – "Voting interest" is defined
in instructions 9-14 below. The determination of the percentage of
voting interest of a general partner is based on who controls the
partnership. The percentage of voting interest is not based on the
percentage of ownership in the partnership’s equity. The general
partners are presumed to control a general partnership. Unless a
clause to the contrary is contained in the partnership agreement, a
general partnership is presumed to be controlled equally by each of
the general partners. For example, if a partnership has two general
partners, and nothing to the contrary is stated in the partnership
agreement, each general partner is presumed to have a 50 percent
voting interest. If there are three general partners, each general
partner is presumed to have a one-third voting interest, etc.
Managing partners – If one general partner is designated as the
managing partner, responsible for the day-to-day operations of the
partnership, this does not necessarily transfer control of the
partnership to the managing partner. If the managing partner must
obtain approval for annual operating budgets and for decisions
relating to significant management issues from the other general
partners, then the managing partner does not have a 100 percent
voting interest in the partnership.
(2) Limited Partnerships
(a) Determination of voting interest – "Voting interest" is
defined in instructions 9-14 below. The determination of the
percentage of voting interest in a limited partnership is based on
who controls the partnership. The percentage of voting interest is
not based on the percentage of ownership in the partnership’s
equity. In most cases, the general partner is presumed to control
a limited partnership, and therefore, have a 100 percent voting
interest in the limited partnership. If there is more than one
general partner, the partnership is presumed to be controlled
equally by each of the general partners, unless a clause to the
contrary is contained in the partnership agreement. For example,
if a limited partnership has two general partners, and nothing to
the contrary is stated in the partnership agreement, then each
general partner is presumed to have a 50 percent voting interest
in the limited partnership.
Limited partners do not normally exercise any control over a
limited partnership. Therefore unless a clause to the
contrary is contained in the partnership agreement, limited
partners are presumed to have zero voting interest in a
limited partnership. If a limited partnership has one or more
limited partners who are foreign persons, the foreign limited
partners are presumed to have no voting interest, and,
therefore, no direct investment in the limited partnership.

Page 18

Managing member – If one member is designated as the
managing member responsible for the day-to-day operations of the
LLC, this does not necessarily transfer control of the LLC to the
managing member. If the managing member must obtain approval
for annual operating budgets and for decisions relating to other
significant management issues from the other members, then the
managing member does not have a 100 percent voting interest in
the LLC.
8. U.S. affiliates NOT consolidated – Report investments in U.S.
business enterprises that are not fully consolidated and that are owned
20 percent or more using either the equity method of accounting or fair
value accounting. DO NOT report employment, land, and other
property, plant, and equipment and DO NOT eliminate intercompany
accounts (e.g., receivables or liabilities) for holdings reported using the
equity method or fair value accounting.
You may report immaterial investments using the cost method of
accounting if this treatment is consistent with your normal reporting
practice. Report investments owned less than 20 percent in
accordance with FASB ASC 320 (formerly FAS 115) or the cost basis
of accounting.
List all U.S. affiliates in which this U.S. affiliate has a voting interest of
at least 10 percent and that are not consolidated in this Form BE-15B
on the Supplement B.
9-14
Ownership
Voting interest and Equity interest
a. Voting interest is the percent of ownership in the voting equity of the
U.S. affiliate. Voting equity consists of ownership interests that have a
say in the management of the company. Examples of voting equity
include capital stock that has voting rights, and a general partner’s
interest in a partnership. See instruction 6b(1) and 6b(2)(a) above for
information about determining the voting interest for partnerships. See
instruction 6c above for information about determining the voting interest
for Limited Liability Companies.

FORM BE-15B (REV. 10/2011)

IV – INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
b. Equity interest is the percent of ownership in the total equity (voting
and nonvoting) of the U.S. affiliate. Nonvoting equity consists of
ownership interests that do not have a say in the management of the
company. An example of nonvoting equity is preferred stock that has no
voting rights.
Voting interest and equity interest are not always equal.
For example, an owner can have a 100 percent voting interest in a U.S.
affiliate but own less than 100 percent of the affiliate’s total equity. This
situation is illustrated in the following example.
Example: U.S. affiliate A has two classes of stock, common and
preferred. There are 50 shares of common stock outstanding. Each
common share is entitled to one vote and has an ownership interest in
1 percent of the total owners’ equity amount. There are 50 shares of
preferred stock outstanding. Each preferred share has an ownership
interest in 1 percent of the total owners’ equity amount but has no
voting rights. Foreign parent B owns all 50 shares of the common stock.
U.S. investors own all 50 shares of the preferred stock. Since foreign
parent B owns all of the voting stock, foreign parent B has a 100
percent voting interest in U.S. affiliate A. However, since all 50 shares
of the nonvoting preferred shares are owned by U.S. investors, foreign
parent B has only a 50 percent equity interest in the owners’ equity
amount of U.S. affiliate A.

Part II – FINANCIAL AND OPERATING DATA OF
U.S. AFFILIATE
Section A – INDUSTRY CLASSIFICATION AND TOTAL SALES
OF FULLY CONSOLIDATED U.S. AFFILIATE
18-23
Industry classification of fully consolidated U.S. affiliate
Book Publishers and Printers – Printing books without
publishing is classified in international surveys industry (ISI) code 3231
(printing and related support activities) not ISI code 5111 (newspaper,
periodical, book, and directory publishers).
Real Estate Investment Trusts (REITS) – Report hybrid or
mortgage REITS in ISI code 5252 (Funds, trusts, and other financial vehicles). Report all other REITS in ISI code 5310 (Real estate).
Repos and Reverse Repos – On the sales schedule (lines 18–23),
interest income and interest expense associated with repos and reverse
repos should be offset against one another and reported at the net
amount. On the balance sheet, reverse repos should be reported as
assets and included on line 31 (total assets) while repos should be
reported as liabilities and included on line 32 (total liabilities).
If you are required to complete page 8, then on line 60 (investment
income included in gross operating revenues) interest income and interest
expense associated with repos and reverse repos should be offset
against one another and reported at the net amount. However, on lines
56 (interest income from all sources) and 57 (interest expense plus
interest capitalized) interest income and interest expense associated with
repos and reverse repos should be reported at the gross amounts.
Section B – OTHER FINANCIAL AND OPERATING DATA FOR
FY 2011
25. Total employee compensation for FY 2011 – Base
employee compensation on payroll records related to activities
during the reporting period. Employee compensation consists of:

FORM BE-15B (REV. 10/2011)

a. Wages and salaries are the gross earnings of all employees
before deduction of employees’ payroll withholding taxes, social
insurance contributions, group insurance premiums, union dues, etc.
Include time and piece rate payments, cost of living adjustments,
overtime pay and shift differentials, bonuses, profit sharing amounts,
and commissions. Exclude commissions paid to persons who are
not employees.
Wages and salaries include direct payments by employers for
vacations, sick leave, severance (redundancy) pay, etc. Include
employer contributions to benefit funds. Exclude payments made
by, or on behalf of, benefit funds rather than by the employer.
Wages and salaries include in-kind payments, valued at their cost,
that are clearly and primarily of benefit to the employees
as consumers. Exclude expenditures that benefit employers as
well as employees, such as expenditures for plant facilities, employee
training programs, and reimbursement for business expenses.
b. Employee benefit plans are employer expenditures for all
employee benefit plans, including those required by government
statute, those resulting from a collective bargaining contract, or
those that are voluntary. Employee benefit plans include Social
Security and other retirement plans, life and disability insurance,
guaranteed sick pay programs, workers’ compensation insurance,
medical insurance, family allowances, unemployment insurance,
severance pay funds, etc. If plans are financed jointly by the
employer and the employee, include only the contributions of the
employer.

26. Research and development (R&D) performed BY the U.S.
affiliate – R&D includes basic and applied research in the sciences
and engineering. It also includes design and development of new
products and processes, and enhancement of existing products and
processes.
R&D includes activities carried on by persons trained, either formally
or by experience, in engineering, the physical sciences such as
chemistry and physics, the biological sciences such as medicine, the
mathematical and statistical sciences, and computer science. R&D
includes these activities if the purpose is to do one or more of the
following:
a. The planned, systematic pursuit of new knowledge or
understanding toward general application (basic research);
b. The acquisition of knowledge or understanding to meet a specific,
recognized need (applied research); and
c. The application of knowledge or understanding toward the production
or improvement of a product, service, process, or method
(development).
Basic research is the pursuit of new scientific knowledge or
understanding that does not have specific immediate commercial
objectives, although it may be in fields of present or potential
commercial interest.
Applied research applies the findings of basic research or other
existing knowledge toward discovering new scientific knowledge that
has specific commercial objectives with respect to new products,
services, processes, or methods.
Development is the systematic use of the knowledge or
understanding gained from research or practical experience directed
toward the production or significant improvement of useful products,
services, processes, or methods, including the design and
development of prototypes, materials, devices, and systems.

Page 19

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
R&D includes the activities described above whether assigned to
separate R&D organizational units of the company or carried out
by company laboratories and technical groups not a part of an
R&D organization.
INCLUDE all costs incurred to support R&D. INCLUDE wages,
salaries, and related costs; materials and supplies consumed;
depreciation on R&D property and equipment, cost of computer
software used in R&D activities; utilities, such as telephone, telex,
electricity, water, and gas; travel costs and professional dues;
property taxes and other taxes (except income taxes) incurred on
account of the R&D organization or the facilities they use;
insurance expenses; maintenance and repair, including
maintenance of buildings and grounds; company overhead
including: personnel, accounting, procurement and inventory, and
salaries of research executives not on the payroll of the R&D
organization. EXCLUDE capital expenditures, expenditures for
tests and evaluations once a prototype becomes a production
model, patent expenses, and income taxes and interest.
EXCLUDE expenditures for quality control; routine product testing;
market research; sales promotion, sales service, and other
nontechnological activities; routine technical services; research in
the social sciences or psychology; geological and geophysical
exploration activities, and advertising programs to promote or
demonstrate new products or processes.

Differences between the "charged" and "shipped" basis may be substantial.
A major difference arises when a U.S. affiliate buys goods in foreign country
A and sells them in foreign country B. Because the goods did not physically
enter or leave the United States, they are not U.S. trade. However, when
the U.S. affiliate records the transactions on its books, it would show a
purchase charged to it from country A and a sale charged by it to country
B. If the U.S. affiliate’s trade data in this survey were prepared on the
"charged" basis, the purchase and sale would appear incorrectly as a U.S.
import and U.S. export, respectively.
Timing – Only include goods actually shipped between the United States
and a foreign country during FY 2011 regardless of when the goods were
charged or consigned. For example, include goods shipped by the U.S.
affiliate in FY 2011 that were charged or consigned in FY 2012, but exclude
goods shipped in FY 2010 that were charged or consigned in FY 2011.
Valuation of exports and imports – Value U.S. goods exports and
imports f.a.s. (free alongside ship) at the port of export. INCLUDE all costs
incurred up to the point of loading the goods aboard the export carrier at the
U.S. or foreign port of exportation, including the selling price at the interior
point of shipment (or cost if not sold), packaging costs, and inland freight
and insurance. EXCLUDE all subsequent costs such as loading costs, U.S.
and foreign import duties, and freight and insurance from the port of export
to the port of entry.
In-transit goods – Exclude the value of any goods that are in-transit.
In-transit goods are goods that are not processed or consumed by residents
in the intermediate country(ies) through which they transit; the in-transit goods
enter those countries only because those countries are along the shipping
lines between the exporting and importing countries.

29-30
Section C – U.S. TRADE IN GOODS BY U.S. AFFILIATE ON A
SHIPPED BASIS
U.S. trade in goods is the physical movements of goods between the
customs area of the United States and the customs area of a foreign
country. Goods shipped by, or to, the U.S. affiliate whether or not they
were actually charged or consigned by, or to, the U.S. affiliate, are
considered to be trade of the U.S. affiliate.
NOTE: Goods shipped by an independent carrier or a freight forwarder to
or from the United States on behalf of and at the expense of a U.S.
affiliate are imports or exports of the U.S. affiliate.
BASIS FOR REPORTING U.S. TRADE IN GOODS DATA:

In-transit goods are goods that are en route from one foreign country to
another via the United States (such as from Canada to Mexico via the
United States), and goods en route from one part of the United States to
another part via a foreign country (such as from Alaska to Washington State
via Canada).
Capital goods – Include capital goods (e.g., manufacturing equipment
used to produce goods for sale) but exclude the value of ships, planes,
railroad rolling stock, and trucks that were temporarily outside the
United States transporting people or merchandise.
Consigned goods – Include consigned goods in the trade figures
when shipped or received, even though they are not normally recorded
as sales or purchases, or entered into intercompany accounts when
initially consigned.

"Shipped" versus "Charged"
Report U.S. trade in goods on this BE-15 report using the
"shipped" basis. The shipped basis looks at the physical movement
of goods. Data reported on the "shipped" basis for exports are based
on (i) when, (ii) to whom, and (iii) to where the goods were shipped.
Data reported on the "shipped" basis for imports are based on (i) when,
(ii) from whom, and (iii) from where the goods were shipped. The
"shipped" basis is the same basis on which official U.S. trade statistics
are kept and to which the trade data reported on the BE-15 will be
compared.
DO NOT REPORT the U.S. trade in goods data using the
"charged" basis. U.S. affiliates normally keep their accounting
records on a "charged basis." Data reported on the "charged" basis are
based on (i) when, (ii) to or from whom, and (iii) to or from where goods
are charged for accounting and bookkeeping purposes. The "charged"
basis may be used if there is no material difference between it and the
"shipped" basis. However, if there is a material difference, the "shipped"
basis must be used or adjustments must be made to the "charged"
basis data to approximate a "shipped" basis. To adjust "charged" basis
data to a "shipped" basis it may be necessary to look at export and
import declarations filed with U.S. customs or shipping and receiving
documents to determine the physical movement of goods.

Page 20

Electricity and water – Report the value of electricity and water
exports and imports if the product value can be separated out from the
service value. Report ONLY the product value (electricity and water).
DO NOT report the service value (transmission and distribution).
Natural gas distribution – INCLUDE the value of natural gas that is
exported or imported as trade in goods. However, EXCLUDE natural gas
that you do not produce or sell, but simply transmit for others via a pipeline.
Packaged general use computer software – INCLUDE exports
and imports of packaged general use computer software. Value such
exports and imports at the full transaction value, i.e., including both the
value of the media on which the software is recorded and the value of
the information contained on the media. EXCLUDE receipts or
payments for customized software designed to meet the needs of a
specific user. This type of software is considered a service and should
not be reported as trade in goods. EXCLUDE receipts and payments
for software that is transmitted electronically rather than physically
shipped. Also, EXCLUDE negotiated licensing fees for software to use
on networks.

FORM BE-15B (REV. 10/2011)

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
Section E – SCHEDULE OF EMPLOYMENT BY LOCATION
34–51
Number of employees at the end of FY 2011 – Employees is the
number of full-time and part-time employees on the payroll at the end of FY
2011. If employment at the end of FY 2011, or the count taken at some
other time during FY 2011, was unusually high or low because of temporary
factors (e.g., a strike), give the number of employees that reflects normal
operations. If the business enterprise’s activity involves large seasonal
variations, give the average number of employees for FY 2011. If given, the
average should be the average for FY 2011 of the number of persons on
the payroll at the end of each payroll period, month, or quarter. If precise
figures are not available, give your best estimate.
Location of employees is the U.S. state, territory, or possession in which
the person is permanently employed. For example, an employee carried on
the payroll of a company located in California who is on a duty assignment
for one year or less in Texas should be shown as being located in
California, not Texas. (If the duty assignment is for more than one year,
show the employee as being located in Texas, not California.)
Foreign – Except as noted below, exclude employees located outside
of the United States from the Schedule of Employment By Location.
a. Employees normally located in the United States who are on a
temporary duty assignment outside of the country for one year
or less should be reported in the U.S. state, territory, or
possession where they are normally located.
b. Employees normally located in the United States who are on a duty
assignment outside of the country for more than one year and
carried on the payroll of the domestic U.S. affiliate should be
reported under the category "foreign." Exclude these employees
from the BE-15 report if they are carried on a foreign payroll.
Section F – OTHER FINANCIAL AND OPERATING DATA
(MAJORITY–OWNED U.S. AFFILIATES)
54. Certain gains (losses) – Note: Please read the following
instructions carefully as they are keyed to economic accounting
concepts and in some cases may deviate from what is normally
required by U.S. Generally Accepted Accounting Principles.
Report at gross amount before income tax effect. Report
gains (losses) resulting from:
a. 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 writeups, writedowns, and writeoffs of
tangible and intangible assets; and gains (losses) from the sale or
other disposition of capital assets. Exclude legal judgments;
b. Restructuring. Include restructuring costs that reflect write downs
or writeoffs of assets or liabilities. EXCLUDE actual payments, or
charges to establish reserves for future actual payments, such as for
severance pay, and fees to accountants, lawyers, consultants, or
other contractors;
c. Sale or disposition of land, other property, plant and
equipment, or other assets, and FASB ASC 360 (formerly
FAS 144) impairment losses. EXCLUDE gains (losses) from
the sale of inventory assets in the ordinary course of trade or
business. Real estate companies, see special
instructions below;

FORM BE-15B (REV. 10/2011)

d. Sales or other dispositions of financial assets, including investment
securities; gains (losses) related to fair value accounting
EXCEPT those related to unconsolidated affiliates; FASB ASC
320 (formerly FAS 115) holding gains (losses) on securities
classified as trading securities; FASB ASC 320 impairment
losses; and gains and losses derived from derivative
instruments. Dealers in financial instruments (including
securities, currencies, derivatives, and other financial instruments)
and finance and insurance companies, see special
instructions below;
e. Goodwill impairment as defined by FASB ASC 350 (formerly
FAS 142);
f. DISPOSALS of discontinued operations. EXCLUDE income
from the operations of a discontinued segment. Report such income
as part of your income from operations in items 18 through 23 on
page 6;
g. Remeasurement of the U.S. affiliate’s foreign–currency–
denominated assets and liabilities due to changes in foreign
exchange rates during the reporting period;
h. The cumulative effect of a change in accounting principle;
and
i. The cumulative effect of a change in the estimate of stock
compensation forfeitures under FASB ASC 718 (formerly
FAS 123(R)).
Special instructions for (1) dealers in financial instruments,
finance and insurance companies, and (2) real estate
companies.
(1) Dealers in financial instruments (including securities,
currencies, derivatives, and other financial instruments)
and finance and insurance companies – Include in item 54:
(a) Impairment losses as defined by FASB ASC 320 (formerly FAS
115),
(b) Realized gains (losses) on trading or dealing,
(c) Unrealized gains (losses) due to changes in the valuation of
financial instruments, that flow through the income statement,
and
(d) Goodwill impairment as defined by FASB ASC 350 (formerly FAS
142).
EXCLUDE unrealized gains (losses), due to changes in the valuation
of financial instruments, that are taken to other comprehensive
income. Reflect such gains (losses) only in the ending owners’ equity
balance (line 33).
EXCLUDE income from explicit fees and commissions from item 54.
Include income from these fees and commissions as part of your
income from operations on lines 18 through 23 on page 6.
(2) Real estate companies – Include in item 54:
(a) Impairment losses as defined by FASB ASC 360 (formerly FAS
144), and
(b) Goodwill impairment as defined by FASB ASC 350 (formerly FAS
142).
EXCLUDE the revenues earned and expenses incurred from the
sale of real estate you own. Such revenues should be reported as
operating income in items 23 (column 2), 58, and as sales of goods in
item 59.

Page 21

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
58–63

DISTRIBUTION OF SALES OR GROSS
OPERATING REVENUES

Disaggregate the total sales or gross operating revenues into sales of
goods, investment income, and sales of services.
59. Sales of goods – Goods are normally outputs that are
tangible. Report as sales of goods:
• Mass produced media, including exposed film, video tapes,
DVDs, audio tapes, and CDs.

V. SPECIAL INSTRUCTIONS
A. Insurance companies – Reporting should be in accordance with
U.S. Generally Accepted Accounting Principles not Statutory Accounting
Practices (SAP). For example, the BE-15 report should include the
following assets even though they are not acceptable under SAP:
1. non-trusteed or free account assets, and 2. nonadmitted assets such
as furniture and equipment, agents’ debit balances, and all receivables
deemed to be collectible.
Item on Form:
23

TOTAL SALES – Include items such as earned premiums,
annuity considerations, dividends, interest, and items of a similar
nature. Exclude income from unconsolidated affiliates. Also
exclude income that would be reported in item 54, certain gains
(losses).

• Energy trading activities where you take title to the goods.
NOTE: If you act in the capacity of a broker or agent to
facilitate the sale of goods and you do not take title to the
goods, report your revenue (i.e., commissions) as sales of
services in item 61.

TOTAL ASSETS – Include current items such as agents’
balances, uncollected premiums, amounts recoverable from
reinsurers, and other current notes and accounts receivable (net
of allowances for doubtful items) arising from the ordinary course
of business.

TOTAL LIABILITIES – Include current items such as loss
liabilities, policy claims, commissions due, other current liabilities
arising from the ordinary course of business, and long-term debt.

• Magazines and periodicals sold in retail stores. NOTE: Report
subscription sales as sales of services in item 61.

TOTAL OWNERS’ EQUITY – Include mandatory securities
valuation reserves that are appropriations of retained earnings.

CERTAIN GAINS (LOSSES) – See special instructions for
item 54. on page 21 of this form.

• Books. NOTE: Book publishers – To the extent feasible, report
as sales of services all revenues associated with the design,
editing, and marketing activities necessary for producing and
distributing books that you both publish and sell. If you
cannot unbundle (i.e., separate) these revenues from the
value of the books you sell, then report your total sales as
sales of goods or services based on the activity that accounts
for a majority of the value.

• Packaged general use computer software.
• Structures sold by businesses in real estate.
• Revenues earned from building structures by businesses in
construction.
• Electricity, natural gas, and water. NOTE: Revenues derived
from transmitting and/or distributing these goods, as
opposed to revenues derived from the sale of the actual product, should, to the extent feasible, be reported as sales of
services in item 61.
60. Investment income – Report dividends and interest
generated by finance and insurance subsidiaries or units as
investment income. NOTE: Report commissions and fees as
sales of services in item 61.
61. Sales of services – Services are normally outputs that are
intangible. Report as sales of services:
• Advertising revenue.
• Commissions and fees earned by companies engaged in
finance and real estate activities.
• Premiums earned by companies engaged in insurance
activities. NOTE: Calculate as direct premiums written
(including renewals) net of cancellations, plus reinsurance
premiums assumed, minus reinsurance premiums ceded,
plus unearned premiums at the beginning of the year, minus
unearned premiums at the end of the year.
• Commissions earned by agents or brokers (i.e., wholesalers)
who act on behalf of buyers and sellers in the wholesale
distribution of goods.
• Magazines and periodicals sold through subscriptions. NOTE:
Report magazines and periodicals sold through retail stores,
as sales of goods in item 59.
• Newspapers.
• Pipeline transportation.

B. Railroad transportation companies – Railroad transportation
companies should include only the net annual balances for interline
settlement items (car hire, car repair, freight revenues, switching
revenues, and loss and damage settlements) in items 31 and 32.
C. Real Estate – The ownership of real estate is defined to be a
business enterprise, and if the real estate is foreign owned, it is a
U.S. affiliate of a foreign person.
Residential real estate held exclusively for personal use and not for
profit making purposes is not subject to the reporting requirements. A
residence that is an owner’s primary residence that is then leased by
the owner while outside the United States, but which the owner intends
to reoccupy, is considered real estate held for personal use and
therefore not subject to the reporting requirements. Ownership of U.S.
residential real estate by a corporation whose sole purpose is to hold
the real estate for the personal use of the owner(s) of the corporation is
considered to be real estate held for personal use and therefore not
subject to the reporting requirements.
Aggregation of real estate investments – A foreign person
holding real estate investments that are reportable on the BE-15 must
aggregate all such holdings for the purpose of applying the reporting
criteria (see instruction I.B. on page 15 of this form). File a single BE-15B
report covering the aggregated holdings. If on an aggregated basis any
one of the following three items – total assets (do not net out liabilities), or
sales or gross operating revenues, excluding sales taxes, or net income
after provision for U.S. income taxes – exceeds $275 million (positive or
negative) and the foreign voting ownership in the real estate exceeds 50
percent, file Form BE-15A. If permission has been received in writing from
BEA to file on an non-aggregated basis, you must report each real estate
investment on a Form BE-15A if a Form BE-15A would have been required
on an aggregated basis. Non-aggregated reports should be filed as a group
and you should inform BEA that they are all for one owner.

• Software downloaded from the internet, electronic mail, an
extranet, electronic data interchange network, or some other
online system.
• Computer systems design and related services.
• Negotiated licensing fees for software to be used on networks.
• Electricity transmission and distribution, natural gas
distribution, and water distribution.

Page 22

FORM BE-15B (REV. 10/2011)

V. SPECIAL INSTRUCTIONS – Continued
On page 1, for the name and address of the U.S. business enterprise,
BEA is not seeking a legal description of the property, nor necessarily
the address of the property itself. Because there may be no operating
business enterprise for a real estate investment, what BEA seeks is a
consistently identifiable name for the investment (i.e., the U.S. affiliate)
together with an address to which report forms can be mailed so that
the investment (affiliate) can be reported on a consistent basis for each
reporting period and for the various BEA surveys.
Thus, on page 1 of the BE-15 survey forms the "name and address"
of the U.S. affiliate might be:
XYZ Corp. N.V., Real Estate Investments
c/o B&K Inc., Accountants
120 Major Street
Miami, FL XXXXX
If the investment property has a name, such as Sunrise Apartments, the
name and address on page 1 of the BE-15 survey forms might be:
Sunrise Apartments
c/o ABC Real Estate
120 Major Street
Miami, FL XXXXX
There are questions throughout the Form BE-15B that may not apply to
certain types of real estate investments, such as the employer identification number, the number of employees, and exports and imports. In
such cases, mark the items "none."
Joint ventures and partnerships – If a foreign person has a direct
or indirect voting ownership interest of 10 percent or more in a joint
venture, partnership, etc., that is formed to own and hold, develop, or
operate real estate, the joint venture, partnership, etc., in its entirety, not
just the foreign person’s share, is a U.S. affiliate and must be reported
as follows:
1. If the foreign interest in the U.S. affiliate is directly held by the
foreign person then a BE-15 report must be filed by the affiliate
(subject to the aggregation rules discussed above).
2. If a voting interest of more than 50 percent in the U.S. affiliate is
owned by another U.S. affiliate, the owned affiliate must be fully
consolidated in the BE-15 report of the owning affiliate.
3. If a voting interest of 50 percent or less in the U.S. affiliate is owned
by another U.S. affiliate, and no U.S. affiliate owns a voting interest
of more than 50 percent, then a separate BE-15 report must be filed
by the owned affiliate. The BE-15 report(s) of the owning affiliate(s)
must show an equity investment in the owned affiliate.
D. Farms – For farms that are not operated by their foreign owners, the
income statements and related items should be prepared based on the
extent to which the income from the farm accrues to, and the expenses
of the farm are borne by, the owner. Generally this means that income,
expenses, and gain (loss) assignable to the owner should reflect the
extent to which the risk of the operation falls on the owner. For
example, even though the operator and other workers on the farm are
hired by a management firm, if their wages and salaries are assigned
to, and borne by, the farm operation being reported, then the operator
and other workers should be reported as employees of that farm
operation and the wages and salaries should be included as an
expense in the income statement.
EXAMPLES:
1. If the farm is leased to an operator for a fixed fee, the owner
should report the fixed fee in "total sales" and should report the
non-operating expenses that he or she may be responsible for,
such as real estate taxes, interest on loans, etc., as expenses in
the income statement.

FORM BE-15B (REV. 10/2011)

2. If the farm is operated by a management firm that oversees the
operation of the farm and hires an operator, but the operating income
and expenses are assigned to the owner, the income and expenses
so assigned should be shown in the requested detail in the income
statement, and related items, as appropriate. (The report should not
show just one item, i.e., the net of income less the management fee,
where the management fee includes all expenses.)
E. Estates, trusts, and intermediaries
A FOREIGN ESTATE is a person and therefore may have direct
investment, and the estate, not the beneficiary, is considered to be
the owner.
A TRUST is a person but it is not a business enterprise. The trust is
considered to be the same as an intermediary, and should report as
outlined in the instructions for intermediaries below.
For reporting purposes, the beneficiary(ies) of the trust, is (are)
considered to be the owner(s) for purposes of determining the existence
of direct investment, except in two cases: (1) if there is, or may be, a
reversionary interest, and (2) if a corporation or other organization
creates a trust designating its shareholders or members as beneficiaries.
In these two cases, the creator(s) of the trust is (are) deemed to be the
owner(s) of the investments of the trust (or succeeding trusts where the
presently existing trust had evolved out of a prior trust), for the purposes
of determining the existence and reporting of direct investment.
This procedure is adopted in order to fulfill the statistical purposes of
this survey and does not imply that control over an enterprise owned or
controlled by a trust is, or can be, exercised by the beneficiary(ies) or
creator(s).
FOR AN INTERMEDIARY:
1. If a U.S. intermediary holds, exercises, administers, or manages a
particular foreign direct investment in the United States for the
beneficial owner, such intermediary is responsible for reporting the
required information for, and in the name of, the U.S. affiliate.
Alternatively, the U.S. intermediary can instruct the U.S. affiliate to
submit the required information. Upon so doing, the intermediary is
released from further liability to report, provided it has informed BEA
of the date such instructions were given and provides BEA the name
and address of the U.S. affiliate, and has supplied the U.S. affiliate
with any information in the possession of, or which can be secured
by, the intermediary that is necessary to permit the U.S. affiliate to
complete the required reports. When acting in the capacity of an
intermediary, the accounts or transactions of the U.S. intermediary
with a foreign beneficial owner are considered as accounts or
transactions of the U.S. affiliate with the foreign beneficial owner. To
the extent such transactions or accounts are unavailable to the U.S.
affiliate, BEA may require the intermediary to report them.
2. If a foreign beneficial owner holds a U.S. affiliate through a foreign
intermediary, the U.S. affiliate may report the intermediary as its
foreign parent but, when requested, must also identify and furnish
information concerning the foreign beneficial owner. Accounts or
transactions of the U.S. affiliate with the foreign intermediary are
considered as accounts or transactions of the U.S. affiliate with the
foreign beneficial owner.
F. Determining place of residence and country of
jurisdiction of individuals – An individual is considered a
resident of, and subject to the jurisdiction of, the country in which he
or she is physically located. The following guidelines apply to
individuals who do not reside in their country of citizenship:
1. Individuals who reside, or expect to reside, outside their country
of citizenship for less than one year are considered to be
residents of their country of citizenship.

Page 23

V. SPECIAL INSTRUCTIONS – Continued
2. Individuals who reside, or expect to reside, outside their country of
citizenship for one year or more are considered to be residents of
the country in which they are residing, except as provided in
paragraphs 3 and 4 below.
3. If an owner or employee of a business enterprise resides outside
the country of location of the enterprise for one year or more for the
purpose of furthering the business of the enterprise, and the country
of the business enterprise is the country of citizenship of the owner
or employee, then such owner or employee is considered a resident
of the country of citizenship, provided there is the intent to return to
the country of citizenship within a reasonable period of time.
4. Individuals and members of their immediate family who are
residing outside their country of citizenship as a result of
employment by the government of that country – diplomats,
consular officials, members of the armed forces, etc. – are
considered to be residents of their country of citizenship.
VI. FILING THE BE-15
A. Due date – File a fully completed and certified Form BE-15A,
BE-15B, or BE-15(EZ) no later than May 31, 2012. If the U.S. affiliate
is exempt from filing Form BE-15A, BE-15B, and BE-15(EZ), complete
and file the BE-15 Claim for Exemption by May 31, 2012.
B. Mailing report forms to a foreign address – BEA will
accommodate foreign owners that wish to have forms sent directly to
them. However, the extra time consumed in mailing to and from a
foreign place may make meeting filing deadlines difficult. In such cases,
please consider using BEA’s electronic filing option. Go to our web site
at www.bea.gov/efile for details about this option. To obtain forms
online go to: www.bea.gov/fdi

Page 24

C. Extensions – For the efficient processing of the survey and timely
dissemination of the results, it is important that your report be filed by
the due date. Nevertheless, reasonable requests for extension of the
filing deadline will be granted. Requests for extensions of more than 30
days MUST be in writing and should explain the basis for the
request. You may request an extension via email at
be12/15@bea.gov. For extension requests of 30 days or less, you
may call BEA at (202) 606-5577. All requests for extensions must be
received NO LATER THAN the original due date of the report.
D. Assistance – For assistance, telephone (202) 606-5577 or send
email to be12/15@bea.gov. Forms can be obtained from BEA’s web
site at: www.bea.gov/fdi
E. Annual stockholders’ report or other financial statements –
Please furnish a copy of your FY 2011 annual stockholders’ report or
Form 10K when filing the BE-15 report. If you do not publish an annual
stockholders’ report or file Form 10K, please provide any financial
statements that may be prepared, including the accompanying notes.
Information contained in these statements is useful in reviewing your
report and may reduce the need for further contact. Section 5(c) of the
International Investment and Trade in Services Survey Act, Public Law
94-472, 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended, provides that
this information can be used for analytical and statistical purposes only
and that it must be held strictly confidential.
F. Number of copies – File a single original copy of the form and
supplement(s). If you are not filing electronically, this should be the
copy with the address label on page 1, if such a labeled copy has
been provided by BEA. (Make corrections to the address on the label,
if necessary.) You should also retain a file copy of each report for
three years to facilitate resolution of any questions that BEA may have
concerning your report. (Both copies are protected by law; see the
statement on confidentiality on page 13.)

FORM BE-15B (REV. 10/2011)

File Type	application/pdf
File Title	untitled
File Modified	2011-12-27
File Created	2011-10-04