BE-12C Benchmark Survey of Foreign Direct Investment in

OMB No. 0608-0042: Approval Expires 1 2/31/2020

FORM BE-12C (REV 9/2017)

BEA-12Identification
IdentificationNumber
Number
BE-12

*Do not enter Social Security Number as Identification Number

2017 BENCHMARK SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES
MANDATORY — CONFIDENTIAL
FORM BE–12C
Name and address of U.S. business enterprise

Due date: May 31, 2018
Electronic filing: www.bea.gov/efile
Mail reports to:
U.S. Department of Commerce
Bureau of Economic Analysis
Direct Investment Division, BE–49(A)
4600 Silver Hill Rd
Washington, DC 20233
Deliver reports to: U.S. Department of Commerce
Bureau of Economic Analysis
Direct Investment Division, BE–49(A)
4600 Silver Hill Rd
Suitland, MD 20746
Fax reports to:
(301) 278–9500
Assistance:

1002

Name of U.S. business enterprise
0

1010

c/o (care of)
0

1003

Street or P.O. Box
0

1004

0998

City

0

1005

State

OR Foreign Postal Code

ZIP Code

Or

0

E-mail: be12/15@bea.gov
Telephone: (301) 278-9247
Copies of blank forms: www.bea.gov/fdi

Include your BE–12 Identification Number with all requests.
Response required
A response is required from persons subject to the reporting requirements of the BE-12 for 2017 whether or not they are contacted by BEA.
Who must file BE-12C:
Those U.S. affiliates where none of the following items exceeded $60 million (positive or negative):
• Total assets
• Sales or gross operating revenues
• Net income
If you do not meet the filing criteria above, another BE-12 survey may be applicable. See instruction I.A.1 on page 13 to determine which form to
file. For more information on filing requirements, see instruction I on page 12.
Certain private funds may be exempt from filing. See item (f) of the BE-12 Claim for Not Filing for more information.

Mandatory and Confidential
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 12 for more details.

CONTACT INFORMATION

CERTIFICATION

Provide information of person to consult about this report:
Name
0

The undersigned official certifies that this report has been prepared
in accordance with the applicable instructions, is complete, and is
substantially accurate including estimates that may have been provided.

Street 1

Signature of Authorized Official

Street 2

Name

1000
0

Date
0

1029
0

0

1030

0990

City
0

State

Zip

Title
0
0991

1031

Telephone Number
0

Extension

Telephone Number

0

0

Extension
0

0992

1001

Fax Number

Fax Number

0

0
0993

0999

E-mail Address
0
1028

NOTE: BEA uses a Secure Messaging System to correspond with you via encrypted message to discuss questions relating to this form. We may use
your e-mail address for survey-related announcements and to inform you about secure messages. When communicating with BEA by e-mail, please do
not include any confidential business or personal information. This includes your social security number which should never be provided to BEA via any
method of transmission.

Part I
IMPORTANT
Review the instructions starting on page 12 before completing this form. Insurance and real estate companies — see special instructions
on page 17.
• Accounting principles — If feasible, use U.S. Generally Accepted Accounting Principles to complete Form BE–12 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 2017 fiscal year — The affiliate’s financial reporting year that had an ending date in calendar year 2017.
• Consolidated reporting — A U.S. affiliate must file on a fully consolidated domestic U.S. basis, including in the consolidation ALL
U.S. business enterprises proceeding down each ownership chain whose voting securities are more than 50 percent owned by the
U.S. business enterprise above. Consolidation rules are found in instruction IV.1 on page 15.
• Rounding — Report currency amounts in U.S. dollars rounded to thousands (omitting 000).
$ Bil.
Do not enter amounts in the shaded portions of each item.
Example — If amount is $1,334,891.00 report as:.................................................................................................

Mil.

Thous.

Dols.

1

335

000

1 Is more than 50 percent of the voting interest in this U.S. business enterprise owned by another U.S. affiliate of the foreign
parent (see the diagram below)?
1400 1

1

Yes If “Yes” — Do not complete this report unless exception IV.1.c described in the consolidation rules apply. This exception
states that 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-12 report. See diagram on page 15 for an illustration of this exception.
If this exception does not apply, forward the BE–12 notification to file to the U.S. business enterprise owning your
company more than 50 percent, and notify BEA of the action taken by filing BE–12 Claim for Not Filing with item (e)
completed on page 3 of that form. The BE–12 Claim for Not Filing can be accessed through eFile or downloaded from
BEA’s Web site at: www.bea.gov/fdi.

1

2

No If “No” — Complete this report in accordance with the consolidation rules on page 15.

CONSOLIDATION OF U.S. AFFILIATES
Foreign parent

10 to 100 percent

Foreign
United States

U.S. business enterprise A
U.S. business enterprise B should be
consolidated on the BE–12 report for U.S.
business enterprise A because U.S. business
enterprise B is more than 50 percent owned by
U.S. business enterprise A.

> 50 percent

U.S. business enterprise B

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

Primary
1006 1

Electronic filers do not need to report more than two
IDs. Enter the IDs without hyphens. For example, if
your ID is 12-3456789, you would enter 123456789.

2

–

–

3 In which state was the U.S. affiliate located?

BEA USE ONLY
0700 1

--Select State--

If the U.S. affiliate operates in more than one state, then select the state where the greatest number of employees was based at the end
of the fiscal year ending in 2017. If there were no employees and no physical location, then select the state of incorporation.

FORM BE-12C (REV 9/2017)

Page 2

Part I – Continued

MM/DD/YYYY
Day
Year

4 Reporting period — Reporting period instructions are found in instruction 4 on page 15. If there was
a change in fiscal year, review instruction 4.b. on page 15.
This U.S. affiliate’s fiscal year ended in calendar year 2017 on......................................................................

1
1007

Example — If the fiscal reporting year ended on March 31, report for the 12-month period that ended March 31, 2017.
NOTE — Affiliates with a fiscal year that ended within the first week of January 2018 are considered to have a 2017 fiscal year
and should report December 31, 2017 as their 2017 fiscal year end.
5 Did the U.S. business enterprise become a U.S. affiliate during its fiscal year that ended in calendar
year 2017?
1008 1

1

1

2

Yes If “Yes” — Enter the date the U.S. business enterprise became a U.S. affiliate and see
instruction 5 on page 15 to determine how to report for the first time......................................

MM/DD/YYYY
Day

Year

1
1009

No

NOTE — A U.S. business enterprise existing before fiscal year 2017 that became a U.S. affiliate in fiscal year 2017 should file a report covering a full 12 months of operations. All U.S. business enterprises that become a new affiliate are required to file a Form BE-13. More information
and copies of survey forms can be found at www.bea.gov/be13.
6 Did the ownership (both direct and indirect) 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 2017?
“Voting interest” is defined in instruction 25.a.(1) on page 16.
1101 1

1

Yes

1

2

No

7 U.S. business enterprises fully consolidated in this report — U.S. business enterprises that are more than 50 percent owned based on
voting interest should be fully consolidated in this report, except as noted in the consolidation rules on page 15. Banks - see instruction I.C.
on page 14 for aggregated reporting rules.
Enter the number of U.S. business enterprises 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. business enterprise, enter “1” in the box below. Exclude from the consolidation all foreign business
enterprises or operations owned by this U.S. affiliate.
1012

1

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 15.
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

If number is not zero, complete the Supplement B on page 10.
The U.S. affiliate named on page 1 must include data for any unconsolidated U.S. affiliates on an equity basis 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-12 in their own names (see
page 13 to determine the appropriate form for these affiliates to file).

9 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, “manufactured widgets.”)
1163

0

10 Industry of this affiliate – Enter the 4-digit International Surveys Industry (ISI) code of the industry
in which the U.S. affiliate had the largest sales or gross operating revenues.

ISI Code
1

See the Summary of Industry Classifications on page 11; for a full explanation of each code see the
Guide to Industry Classifications for International Surveys, 2017 located at www.bea.gov/naics2017.............. 1164

--Select ISI CODE--

BEA USE ONLY
1
1299

FORM BE-12C (REV 9/2017)

Page 3

Part I – Continued
INCOME AND EMPLOYMENT
11 Sales or gross operating revenues, excluding sales taxes – Report gross sales minus returns, allowances,
and discounts. Exclude sales or consumption taxes levied directly on the consumer and excise taxes levied
$ Bil.
directly on manufacturers, wholesalers, and retailers. Include revenues generated during the year from the
1
OPERATIONS of a discontinued business segment, but exclude gains or losses from DISPOSALS
of discontinued operations.........................................................................................................................................
2149
NOTE - Holding Companies (ISI code 5512) should report total income in this item including income (loss)
from equity investments in unconsolidated U.S. and foreign entities, other income, plus sales and gross
operating revenues, if any. Zero normally is NOT a correct entry for this item.

$ Bil.

Mil.

Thous. Dols.

000

Mil.

Thous. Dols.

1

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

000

2159

Number of employees
3
13 Number of employees at close of FY 2017 – See instruction 13 on page 16 for information on
reporting employment (including how to report when employment is subject to unusual variations) .......................... 2700

BALANCE SHEET
NOTE – Foreign operations of the U.S. affiliate, including those in which it has a majority interest, are to be unconsolidated. Include all
unconsolidated foreign operations using the equity method.
Close FY 2017

$ Bil.
Mil.
Thous. Dols.
1

14 Total assets........................................

2109

000

1

15 Total liabilities.................................... 2114

1

3

Check box if total liabilities are zero.

000

INTERCOMPANY DEBT
16 What were the short- and long-term balances owed directly to, and due directly from, the affiliated foreign group?
Do NOT net payables against receivables.
Close FY 2017

$ Bil.
Mil.
Thous. Dols.

1

Payables owed by the U.S. affiliate to the affiliated foreign group....................................

000

3059
1

Receivables owed to the U.S. affiliate by the affiliated foreign group...............................

3081

000
BEA USE ONLY
2598

1

Identifying the Affiliated Foreign Group
The affiliated foreign group (AFG) consists of

Affiliated Foreign Group

• The foreign parent (FP), which is the first Foreign Entity
(B) outside the United States, proceeding up a chain of
ownership, that has 10 percent or more voting interest in
the U.S. affiliate, and
• Every foreign affiliate of the foreign parent (FAFP), which
includes
• Any Foreign Entity (A), proceeding up the foreign
parent’s ownership chain, that has more than 50
percent direct voting interest in the entity below it,
up to and including that entity in which no other
foreign entity has more than 50 percent direct
voting interest, and
• Any Foreign Entity (C) and Foreign Entity (D),
in which the FP or any FAFP has more than 50
percent direct voting interest.

FAFP
Foreign Entity (A)
>50% voting interest

Foreign Parent (FP)
Foreign Entity (B)

FAFP
Foreign Entity (C)

>50% voting interest

≥10%
voting
interest

The AFG does not include:
• Any Foreign Entity (E) proceeding down the FP’s or
FAFP’s ownership chain in which neither the FP nor any
FAFP has more than 50 percent direct voting interest, or
• Any U.S. entity.
FORM BE-12C (REV 9/2017)

>50% voting interest

FAFP
Foreign Entity (D)
≤50% voting interest
Foreign Entity (E)

Foreign
United States

The U.S. Affliate
Page 4

Part I – Continued
17 Did any ONE of the following three items – total assets, sales or gross operating revenues (excluding sales taxes), or net
income (loss) – exceed $20 million at the end of, or for, the U.S. affiliate’s fiscal year that ended in calendar year 2017?
1100 1

1

Yes – Skip to item 20 , but review the diagrams on page 6 to assist you in answering items 25 through 29 .

1
2

No – Complete ONLY items 18 and 19 . DO NOT complete Part II or Part III of this form.

18 Enter the country in which the foreign parent is incorporated or organized, if a business enterprise, or is resident, if an
individual or government. The 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 in this U.S. affiliate. See diagram at top of page 6 for an illustration of foreign parent.

BEA USE ONLY

3916 1

--Select Country--

19 Enter the country in which the ultimate beneficial owner (UBO) is incorporated or organized, if a business enterprise, or is
resident, if an individual or government. 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 diagrams on page 6
for illustrations of UBO.

BEA USE ONLY

3922

--Select Country--

1

Part II
OTHER FINANCIAL AND OPERATING DATA FOR FY 2017
20 Dividends or earnings distributed – Incorporated affiliates — enter amount of dividends declared, inclusive of
taxes withheld, out of current- or prior-period income, on common and preferred stock, excluding stock dividends.
Unincorporated affiliates — enter amount of current- or prior-period net income distributed to owners..................... 2215

$ Bil.

Mil.

Thous. Dols.

1

000

1

21 Employee compensation – Employee compensation is defined in instruction 21 on page 16................................. 2253
22 Expenditures for land and other property, plant, and equipment – 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 in this item........ 2390

000
1

000
1

23 Gross book value of all land and other property, plant, and equipment, at the close of FY 2017..................... 2397
24 Research and development (R&D) expenditures for R&D performed BY the U.S. affiliate – R&D is defined
2403
in instruction 24 on page 16........................................................................................................................................

000

1

000
BEA USE ONLY
1

2599

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 25.a(1) on page 16.
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.
Name of each direct owner
Ownership held directly by foreign parent(s) of this affiliate—see example 1 at top of page 6.
Enter name of each foreign parent with direct ownership—if more than 2, continue on separate sheet.
1
1017

25

1
1018

26

Voting interest

Equity interest

Close FY 2017
(1)

Close FY 2017
(2)

_ _ _ . _  %
_ _ _ . _  %

2

_ _ _ . _  %
_ _ _ . _  %
_ _ _ . _  %

2

2

_ _ _ . _  %
_ _ _ . _  %

Ownership held directly by all U.S. affiliates of the foreign parent(s) — see example 2 at top of page 6.
Enter name of each U.S. affiliate that owns this affiliate — if more than 2, continue on separate sheet.
1

27

1063

28

1064

29

Direct ownership held by all other persons or entities (do not list names)............................. 1061

1

TOTAL — Sum of items 25 through 29 .......................................................................................
FORM BE-12C (REV 9/2017)

Page 5

1

100.0%

2
2

_ _ _ . _  %
_ _ _ . _  %
_ _ _ . _  %
100.0%

Direct Ownership – Continued
Use only if you need to enter more owners after item 26 on the previous page.

Ownership held directly by
foreign parent(s) of this U.S.
affiliate – Give name of each
foreign parent with direct
ownership.

Voting Interest

Equity Interest

Close FY

Close FY

2017

2017

2

1
1019

%

%

1020

%

%

1021

%

%

1022

%

%

1023

%

%

1024

%

%

1025

%

%

1026

%

%

Indirect Ownership – Continued
Use only if you need to enter more owners after item 28 on the previous page.
Voting Interest

Ownership held indirectly by foreign parent(s) of this U.S.
affiliate through another U.S. affiliate – Give name of each

Close FY
2017

Equity Interest

Close FY
2017

foreign parent with indirect ownership.
2

1
1065

%

%

1066

%

%

1067

%

%

1068

%

%

1069

%

%

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

Example 2 – Ownership held directly 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

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.

United States
U.S. affiliate

U.S. affiliate B

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.

Foreign

Foreign company X
1 to 50 Percent

Foreign parent = UBO

United States
U.S. affiliate
Examples 2A and 2B – The foreign parent is NOT the UBO
2A. 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

2B. The UBO is a U.S. person or entity
Foreign company Z is the foreign
parent of the U.S. affiliate. U.S.
company C is the UBO.

Foreign company X
(UBO)
>50 Percent

Foreign company Z
(foreign parent)

Foreign company Y
(foreign parent)

Foreign

United States

United States
U.S. affiliate

FORM BE-12C (REV 9/2017)

>50 Percent

U.S. company C
(UBO)

Page 6

U.S. affiliate

Part II – Continued
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, 2017.
17 Information (ISI codes 5111–5191)

01 Government and government-owned or
-sponsored enterprise, or quasi-government
organization or agency

18 Professional, scientific, and technical services
(ISI codes 5411–5419)

02 Pension fund — Government run

19 Other services (ISI codes 1150, 2132, 2133, 5321,
5329, and 5611–8130)

03 Pension fund — Privately run

Manufacturing, including fabricating,
assembling, and processing of goods:

04 Estate, trust, or nonprofit organization
05 Individual

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)
09 Construction (ISI codes 2360–2380)

25 Primary and fabricated metal products
(ISI codes 3311–3329)

10 Transportation and warehousing (ISI codes 4810–4939)

26 Computer and electronic products (ISI codes 3341–3346)

11 Utilities (ISI codes 2211–2213)

27 Machinery (ISI codes 3331–3339)

12 Wholesale and retail trade (ISI codes 4231–4540)

28 Electrical equipment, appliances and
components (ISI codes 3351–3359)

24 Nonmetallic mineral products (ISI codes 3271–3279)

13 Banking, including bank holding companies
(ISI codes 5221 and 5229)

29 Motor vehicles and parts (ISI codes 3361–3363)
30 Other transportation equipment (ISI codes 3364–3369)

14 Holding companies, excluding bank holding
companies (ISI codes 5512 and 5513)

31 Other manufacturing (ISI codes 3130–3231, 3261, 3262,
3370–3399)

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)

32 Petroleum manufacturing, including integrated petroleum
and petroleum refining without extraction (ISI codes
3242–3244)

16 Real estate (ISI code 5310)

BEA USE ONLY
1200

1

2

3

4

5

1201

1

2

3

4

5

1202

1

2

3

4

5

1203

1

2

3

4

5

FORM BE-12C (REV 9/2017)

Page 7

Part III
Instructions for Part III – Prepare a separate Part III to report each ownership interest held by a foreign parent, at anytime during the fiscal year
that ended in calendar year 2017, in the U.S. affiliate named on page 1 of this BE-12 form. If a foreign parent held both direct and indirect ownership interests in this U.S. affiliate, prepare one Part III to report the direct interest and a separate Part III to report the indirect interest. A Part III
must also be prepared for foreign parent ownership interests disposed of during the year.
Use this Part III to report the foreign parent with the largest voting interest at year-end. Use copies of this Part III to report all additional direct and
indirect voting interests, if any, held by foreign parents in this U.S. affiliate. Additional Part III pages may be downloaded from www.bea.gov/fdi
If more than one Part III is filed, do not duplicate positions in, or transactions with, the U.S. affiliate.
30 Enter the number of foreign parents of the U.S. affiliate.
3010 1

PLEASE COMPLETE ONE COPY OF PART III OF THIS FORM FOR EACH FOREIGN PARENT.
31 Enter the name, ownership interest, country, and industry code of the foreign parent.
31a Enter name of foreign parent being reported in this Part III. If the foreign parent is an individual, enter “individual.”
3011 0

31b Does the foreign parent have a direct or indirect ownership interest in the U.S. affiliate? Mark (X). A direct foreign parent ownership
interest in the U.S. affiliate should match the percentage reported on page 5. An indirect foreign parent ownership interest in the U.S. affiliate
must be calculated based on the percentages reported on page 5.
3012

A direct ownership interest in the U.S. affiliate

1

3015

If a direct ownership interest in the U.S. affiliate is marked, enter
the percent of equity interest owned at the close of 2017......................
3013

1

_ _ _ . _  %

An indirect ownership interest in the U.S. affiliate

1

31c Enter country in which the foreign parent is incorporated or organized, if a business enterprise, or is
resident, if an individual or government. Individuals – see instruction 25.b. on page 17.

BEA USE ONLY
3016

3016 0

1

--Select Country-31d Enter the industry code of the foreign parent from the list of codes on page 7 that best describes the PRIMARY activity of the SINGLE
entity named as the foreign parent. DO NOT base the code on the worldwide sales of all consolidated subsidiaries of the foreign parent. If the
foreign parent is an individual, enter code “05.”
3018 1

--Select Industry-32 For each foreign parent, furnish the name, country, and industry code of the ultimate beneficial owner (UBO) – see examples on page 6.
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, 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. Note: Stockholders of a closely or privately held corporation are normally
considered to be an associated group and may be a UBO.
32a 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

1

1

2

Yes (example 1 at bottom of page 6) – Skip to 32d .
No (examples 2A and 2B on page 6) – Continue with 32b .

32b 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 0

32c Enter country in which the UBO is incorporated or organized, if a business enterprise, or is resident, if an
individual or government. Individuals – see instruction 25.b. on page 17.

BEA USE ONLY
3022

1

--Select Country-32d Enter the industry code of the UBO from the list of codes on page 7. Select the industry code that best reflects the consolidated worldwide
sales of the UBO, including all of its majority-owned subsidiaries. If the UBO is an individual, enter code “05.”
3023 1

DO NOT use code "14" for UBO.

--Select Industry-FORM BE-12C (REV 9/2017)

Page 8

FORM BE-12C (REV 9/2017)

BE-12 Supplement A (2017)

FORM
(REV. 9/2017)

U.S. DEPARTMENT OF COMMERCE
BUREAU OF ECONOMIC ANALYSIS

LIST OF ALL U.S. BUSINESS ENTERPRISES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE

BEA USE ONLY

OMB No. 0608-0034: Approval Expires 1 2/31/2020



Page number

Name of U.S. affiliate as shown on page 1



NOTE – If you filed a Supplement A or a computer printout of Supplement A with your 2016 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.
Supplement A must be completed by a reporting affiliate that consolidates financial and operating data of any other U.S. business
enterprises. The number of U.S. business enterprises listed below plus the reporting U.S. business enterprise must agree with item 7
on page 3. Continue listing onto as many additional copied pages as necessary.

Primary Employer Identification Number as
shown in item 2  on page 2.

If the affiliate has
changed since the last
report, please select
the reason. If it is new,
please select "New".
1
5111
1
5112
1
5113
1
5114
1
5115
1
5116
1
5117

Page 9

1
5118
1
5119
1
5120

Name of U.S. business enterprise which holds
the direct ownership interest in the U.S. affiliate
listed in column 1

Percent of direct voting ownership
that the entity named in column 3 holds
in the entity named in column 1.
– Enter percent to nearest tenth.

(1)

(2)

(3)

(4)

--Select Reason---Select Reason--

--Select Reason---Select Reason---Select Reason--

--Select Reason---Select Reason---Select Reason--

--Select Reason---Select Reason--

2
2
2
2
2
2
2
2
2
2
2

1

3
3
3
3
3
3
3
3
3
3
3

2

3

--Select Reason-1

2

3

--Select Reason--

5123
1
5124
1
5125
1
5126
1
5127
1
5128
1
5129
1
5130

--Select Reason--

--Select Reason---Select Reason--

--Select Reason---Select Reason---Select Reason--

--Select Reason--

2
2
2
2
2
2
2

3
3
3
3
3
3
3

5133

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

4

. %
4

. %
4

. %
4

. %
4

. %
4

. %
4

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %
4

6

5

. %

5

. %

–
If you need to file more lines, use the separate
Excel Supplement file provided on the website
–

6

5

4

2

6

5

3

1

6

5

5

2

6

5

4

1

–

6

5

3

3

6

5

5

2

BEA USE
ONLY
Y
6

5

4

1
5131
5132

–

Employer Identification Number
used to file income and
payroll taxes

--Select Reason--

5122

1

Name of each U.S. business enterprise consolidated
(as represented in item 7   on page 3)

1
5121

5110

. %
. %

OMB No. 0608-0034: Approval Expires 1 2/31/2020

FORM BE-12C (REV 9/2017)

BE-12 Supplement B (2017)

U.S. DEPARTMENT OF COMMERCE

FORM
(REV. 9/2017)

BUREAU OF ECONOMIC ANALYSIS

LIST OF ALL U.S. AFFILIATES IN WHICH THE REPORTING AFFILIATE (AS CONSOLIDATED) HAS A DIRECT
OWNERSHIP INTEREST BUT WHICH ARE NOT FULLY CONSOLIDATED

BEA USE ONLY



Page number



Name of U.S. affiliate as shown on page 1

NOTE – If you filed a Supplement B or a computer printout of Supplement B with your 2016 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-12C 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 on page 3. 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".
1

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

Address
Provide number, street, city, state,
and ZIP Code

Employer Identification Number
used to file income and
payroll taxes

Percent of direct voting ownership
interest that the fully consolidated
U.S. business enterprise named
on page 1, holds in the entity
named in column 1.
– Enter percent to nearest tenth.

(1)

(2)

(3)

(4)

2

3

5

2

3

5

BEA USE
ONLY
Y
7

6

--Select Reason--

.

–

6211
1

%

7

6

--Select Reason--

.

–

6212
1

2

3

5

2

3

5

.

–

Page 10

1

7

6

--Select Reason-6213

%

%

7

6

--Select Reason--

.

–

6214
1

2

3

5

.

–
1

2

3

5

2

3

5

2

3

5

2

3

5

7

.

–
1

%

6

--Select Reason-6218

7

.

–
1

%

6

--Select Reason-6217

7

.

–
1

%

6

--Select Reason-6216

7

6

--Select Reason-6215

%

%

7

6

--Select Reason--

.

–

6219
1

2

3

5

2

3

5

%

7

6

--Select Reason-6221

.

–
1

7

6

--Select Reason-6220

%

–

.

%

Summary of Industry Classifications–For a full explantion of each code see www.bea.gov/naics2017
Agriculture, Forestry, Fishing, and Hunting
1110
1120
1130
1140
1150

Crop production
Animal production and aquaculture
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 Electric power generation,
transmission, and distribution
2212 Natural gas distribution
2213 Water, sewage, and other systems

Construction
2360 Construction of buildings
2370 Heavy and civil engineering construction
2380 Specialty trade contractors

Manufacturing
3111
3112
3113
3114
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

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
Bakery products 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
Steel products from purchased steel
Alumina and aluminum production
and processing
Nonferrous metal (except aluminum)
production and processing
Foundries
Forging and stamping
Cutlery and hand tools
Architectural and structural metals
Boilers, tanks, and shipping containers
Hardware
Spring and wire products
Machine shop products, 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

FORM BE-12C (REV 9/2017)

3334 Ventilation, heating, air-conditioning,
and commercial refrigeration equipment
3335 Metalworking machinery
3336 Engines, turbines, and power
transmission equipment
3339 Other general purpose machinery
3341 Computer and peripheral equipment
3342 Communications equipment
3343 Audio and video equipment
3344 Semiconductors and other
electronic components
3345 Navigational, measuring, electromedical,
and control instruments
3346 Manufacturing and reproducing
magnetic and optical media
3351 Electric lighting equipment
3352 Household appliances
3353 Electrical equipment
3359 Other electrical equipment and components
3361 Motor vehicles
3362 Motor vehicle bodies and trailers
3363 Motor vehicle parts
3364 Aerospace products and parts
3365 Railroad rolling stock
3366 Ship and boat building
3369 Other transportation equipment
3370 Furniture and related products
3391 Medical equipment and supplies
3399 Other miscellaneous manufacturing

Wholesale Trade, Durable Goods
4231 Motor vehicle and motor vehicle
parts and supplies
4232 Furniture and home furnishing
4233 Lumber and other construction materials
4234 Professional and commercial
equipment and supplies
4235 Metal and mineral (except petroleum)
4236 Household appliances and electrical
and electronic goods
4237 Hardware, and plumbing and heating
equipment and supplies
4238 Machinery, equipment, and supplies
4239 Miscellaneous durable goods

Wholesale Trade, Nondurable 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 Newspaper, periodical, book, and
directory publishers
5112 Software publishers
5121 Motion picture and video industries
5122 Sound recording industries
Page 11

5151
5152
5173
5174
5179
5182
5191

Radio and television broadcasting
Cable and other subscription programming
Wired and wireless telecommunications carriers
Satellite telecommunications
Other telecommunications
Data processing, hosting, and related services
Other information services

Finance and Insurance
5221 Depository credit intermediation (Banking)
5223 Activities related to credit intermediation
5224 Non-depository credit intermediation, except
branches and agencies
5229 Non-depository branches and agencies
5231 Securities and commodity contracts
intermediation and brokerage
5238 Other financial investment activities and
exchanges
5242 Agencies, brokerages, and other insurance
related activities
5243 Insurance carriers, except direct life insurance
carriers
5249 Direct life insurance carriers
5252 Funds, trusts, and other finance vehicles

Real Estate and Rental and Leasing
5310
5321
5329
5331

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 Legal services
5412 Accounting, tax preparation, bookkeeping,
and payroll services
5413 Architectural, engineering, and related services
5414 Specialized design services
5415 Computer systems design and related services
5416 Management, scientific, and technical
consulting services
5417 Scientific research and development services
5418 Advertising, public relations, and related services
5419 Other professional, scientific, and
technical services

Management of Companies and Enterprises
5512 Holding companies, except bank holding
companies
5513 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 services

Arts, Entertainment, and Recreation
7110 Performing arts, spectator sports,
and related industries
7121 Museums, historical sites, and similar
institutions
7130 Amusement, gambling, and recreation
industries

Accommodation and Food Services
7210 Accommodation
7220 Food services and drinking places

Other Services
8110 Repair and maintenance
8120 Personal and laundry services
8130 Religious, grantmaking, civic, professional,
and similar organizations

Public Administration
9200 Public administration

2017 BENCHMARK SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES
BE-12C INSTRUCTIONS
NOTE: Instructions in section IV are cross referenced by number to the items located on pages 2 to 7.

Authority – This survey is being conducted pursuant to the
International Investment and Trade in Services Survey Act (P.L. 94472., 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-12
survey whether or not contacted by BEA. Also, persons contacted by
BEA, either by being sent a report form or by other written inquiry,
concerning being subject to reporting must respond pursuant to
section 801.3 of 15 CFR, Chapter VIII. This may be accomplished by
completing and submitting Form BE-12A, BE-12B, BE-12C, or the BE12 Claim for Not Filing, whichever is applicable, by May 31, 2018.

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.

Foreign
U.S.

Respondent Burden – Public reporting burden for this BE-12C form
is estimated to vary from 30 minutes to 3.25 hours per response,
with an average of 1 hour 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, 4600 Silver Hill Road,
Washington, DC 20233; and to the Office of Management and Budget,
Paperwork Reduction Project 0608-0042, 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. Per the Cybersecurity Enhancement
Act of 2015, your data are protected from cybersecurity risks through
security monitoring of the BEA information systems.
I. REPORTING REQUIREMENTS
A. Who must report – A BE-12 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 2017. Certain private funds
may be exempt from filing; see item (f) of the BE-12 Claim for Not
Filing for more information.

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-12C (REV 9/2017)

↓ 100%
U.S. affiliate B
100% directly owned
by foreign person A

Penalties – Whoever fails to report shall be subject to a civil penalty of
not less than $4,527, and not more than $45,268, 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.

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

A report is required even if the foreign person’s voting interest in
the U.S. business enterprise was 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, they should not be reported on Forms BE-12A, BE-12B,
or BE-12C. 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 Intellectual Property with Foreign Persons. Copies of Form
BE-125 are available on the BEA Web site at: www.bea.gov/ssb.
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-12 reporting requirements.

Page 12

I. REPORTING REQUIREMENTS – Continued
1. Which form to file – Review the questions below and the flow chart
on this page to determine if your U.S. business is required to file the
BE-12 survey. Blank forms can be found at: www.bea.gov/fdi

Which 2017 BE-12 Form to File?
At least 10 percent voting interest directly
and/or indirectly owned by a foreign person?

a. Were at least 10 percent of the voting rights in your business
enterprise directly or indirectly owned by a foreign person or
entity at the end of your fiscal year that ended in calendar year
2017?

No

Yes

¨ Yes — Continue with question b.
More than 50 percent of the voting rights owned
by another U.S. affiliate at end of the fiscal year
ending in calendar year 2017?

¨ No — File Form BE-12 Claim for Not Filing by May 31, 2018.
b. Were more than 50 percent of the voting rights in this U.S.
business enterprise owned by another U.S. affiliate at the end of
this U.S. business enterprise’s fiscal year that ended in calendar
year 2017?

Yes

¨ No — Skip to question d. NOTE: Your business is
hereafter referred to as a “U.S. affiliate.”
Yes

c. Do different foreign persons hold a direct and an indirect
ownership interest in this U.S. business enterprise (exception c
to the consolidation rules)? (The consolidation rules are found in
instruction IV.1. starting on page 15.)

No

This U.S. affiliate must be consolidated on
the BE-12 report of the U.S. affiliate that
owns it more than 50 percent. File Form
BE-12 Claim for Not Filing.

¨ Yes — Continue with question d. NOTE: Your business is

No

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.1. on page 15)?

¨ Yes — Continue with question c.

File Form BE-12
Claim for Not Filing

hereafter referred to as a “U.S. affiliate.”

¨ No – This U.S. business enterprise must be consolidated on

the BE-12 report of the U.S. affiliate that owns it more than
50 percent. File the BE-12 Claim for Not Filing with page 1
and item (e) on page 3 completed by May 31, 2018. Notify
the U.S. affiliate that owns this affiliate more than 50 percent,
and have them consolidate your data into their report.

Assets, sales, or net income (loss)
greater than $60 million?
Yes

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 $60 million at the end of, or for, its
fiscal year that ended in calendar year 2017?

No
File Form
BE-12C

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

¨ Yes — Continue with question e.

Yes

No

¨ No – File Form BE-12C by May 31, 2018.
e. Was the U.S. affiliate majority-owned by its foreign parent(s)
at the end of its fiscal year that ended in calendar year 2017?
(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 f.
¨ No — File Form BE-12B by May 31, 2018.
f. 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 $300 million at the end of, or for,
its fiscal year that ended in calendar year 2017?

No

File Form
BE-12A

File Form
BE-12B

NOTE: Certain private funds may be exempt from filing.

¨ No — File Form BE-12B by May 31, 2018.

FORM BE-12C (REV 9/2017)

Yes

See www.bea.gov/surveys/privatefunds for more information.

¨ Yes — File Form BE-12A by May 31, 2018.

File Form
BE-12B

Assets, sales, or net
income (loss) greater
than $300 million?

Page 13

I. REPORTING REQUIREMENTS – Continued

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:

2. Who must file Form BE-12C – 2017 Benchmark Survey of
Foreign Direct Investment in the United States?
Form BE-12C must be filed for a U.S. affiliate where none of the
three items — total assets, sales or gross operating revenues, or
net income-exceeded $60 million (positive or negative).
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.B.
on page 17.

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.

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-12. See example A.

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.

Note that subsequent filings of Form BE-15 annual reports and
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-12.

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.

Example A

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.

Foreign parent
bank A

Foreign

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.

U.S.
Miami
branch
Los Angeles
branch

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.

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-12.

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.

Example B

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.

Foreign parent
Foreign
U.S.

U.S. bank B
Branch 1

L. Foreign parent is a foreign person that directly or indirectly holds
a voting interest of 10 percent or more in the U.S. affiliate. It is
the first person outside the United States in a foreign chain of
ownership that has direct investment in a U.S. business enterprise,
including a branch.

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-12.

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.

II. DEFINITIONS
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.

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).

FORM BE-12C (REV 9/2017)

Page 14

P. Private fund refers to the same class of financial entities defined by
the Securities and Exchange Commission as private funds on Form
PF: “any issuer that would be an investment company as defined
in section 3 of the Investment Company Act of 1940 but for section
3(c)(1) or 3(c)(7) of ...[that] Act.”
III. GENERAL INSTRUCTIONS
A. Required information not available – Make all reasonable efforts
to obtain the information required for reporting. Answer every
item except where specifically exempt. Indicate when only
partial information is available.

III. GENERAL INSTRUCTIONS – Continued

Foreign person B

B. Estimates – If actual figures are not available, provide
estimates and label them as such. When items cannot be fully
subdivided as required, provide totals and an estimated breakdown
of the totals. Information necessary to complete some of the items
on Form BE-12C may not be available from 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. Therefore, the answers may be reasonable estimates
based upon the informed judgement 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.
C. 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

Foreign person A

Foreign
100%

U.S.
30%

U.S. affiliate X
60%
U.S. affiliate Y

U.S. affiliate Y should not be fully consolidated into U.S. affiliate X
because of the 30 percent direct ownership by foreign person B.

If this exception applies, reflect the indirect ownership interest, even if
more than 50 percent, on the owning U.S. affiliate’s BE-12 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.
4

Reporting period – The report covers the U.S. affiliate’s 2017
fiscal year. The affiliate’s 2017 fiscal year is defined as the affiliate’s
financial reporting year that had an ending date in calendar year
2017.

1 Consolidation Rules

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 2017.

NOTE: Instructions in section IV. are cross referenced by number to the
items located on pages 2 to 7.

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 proceeding down each
ownership chain whose voting securities are more than 50 percent
owned by the U.S. business enterprise above. The fully consolidated
entity is considered one U.S. affiliate.

A foreign person holding real estate investments that are reportable
on the BE-12 must aggregate all such holdings. See Instruction V.B.
on page 17 for details.

Do not prepare your BE-12 report using the proportionate
consolidation method. Except as noted in IV.1.b. and c. below,
consolidate all majority-owned U.S.business enterprises into your
BE-12 report.

Unless the exceptions discussed below apply, any deviation
from these consolidation rules must be approved in writing
by BEA. If you file deconsolidated reports, you must file the
same type of reports that would have been required if a
consolidated report was filed.

Report majority-owned subsidiaries, if not consolidated, on the
BE-12C using the equity method of accounting. DO NOT eliminate
intercompany accounts (e.g., receivables or liabilities) for affiliates
not consolidated.

Exceptions to consolidated reporting – Note: If a U.S. business
enterprises is not consolidated into another U.S.affiliate’s
BE-12 report, then it must be listed on the Supplement B of the
other U.S. affiliate’s BE-12 report and each U.S. affiliate not
consolidated must file its own Form BE-12.
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 the equity method.
DO NOT report employment, land, and other property, plant, and
equipment and DO NOT eliminate intercompany accounts for
holdings reported using the equity method.
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/ltdpartner12.
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 BE-12 report. (See diagram.)

FORM BE-12C (REV 9/2017)

Page 15

b. Change in fiscal year

(1) New fiscal year ends in calendar year 2017 – A U.S. affiliate
that changed the ending date of its financial reporting year
should file a 2017 BE-12 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, 2016 fiscal year end
date but changed its 2017 fiscal year end date to March 31.
Affiliate A should file a 2017 BE-12 report covering the 12 month
period from April 1, 2016 to March 31, 2017.
(2) No fiscal year ending in calendar year 2017 – If a change
in fiscal year results in a U.S. affiliate not having a fiscal year that
ended in calendar year 2017, the affiliate should file a 2017
BE-12 report that covers 12 months. The following example
illustrates the reporting requirements.

Example 2: U.S. affiliate B had a December 31, 2016 fiscal year
end date but changed its next fiscal year end date to March 31.
Instead of having a short fiscal year ending in 2017, affiliate B
decides to have a 15 month fiscal year running from January 1,
2017 to March 31, 2018. Affiliate B should file a 2017 BE-12
report covering a 12 month period ending in calendar year 2017,
such as the period from April 1, 2016 to March 31, 2017.

5 Reporting for a U.S. business that became a U.S. affiliate
during fiscal year 2017 —

a. A U.S. business enterprise that was newly established in
fiscal year 2017 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 2017. 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 2017
that became a U.S. affiliate in fiscal year 2017 should file a
report covering a full 12 months of operations.
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 the equity method of 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.

useful products, services, processes, or methods, including
the design and development of prototypes, materials, devices,
and systems.

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

13 Number of employees at close of FY 2017 – Employment is the
number of full-time and part-time employees on the payroll at the
end of FY 2017, excluding contract workers and other workers not
carried on the payroll of the U.S. affiliate. A count taken during, rather
than at the end of, FY 2017 may be used provided it is a reasonable
estimate for the end of FY 2017 number. If employment at the end of
FY 2017, or the count taken at some other time during FY 2017, 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 2017. If given, the average
should be the average for FY 2017 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.

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 performed by the
affiliate. 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, 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.

21 Total employee compensation – 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. Exclude employee
compensation related to activities of a prior period, such as
compensation capitalized or charged to inventories in prior periods.
Employee compensation consists of:

Does R&D include development of software and Internet
applications?

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.

Research and development activity in software and Internet
applications refers only to activities with an element of uncertainty
and that are intended to close knowledge gaps and meet scientific
and technological needs.
R&D activity in software INCLUDES:
• Software development or improvement activities that
expand scientific or technological knowledge

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.

• Construction of new theories and algorithms in the field of
computer science
R&D activity in software EXCLUDES:
• Software development that does not depend on a scientific
or technological advance, such as
• supporting or adapting existing systems

24 Research and development (R&D) performed BY the
U.S. affiliate – Research and development (R&D) comprise
creative and systematic work undertaken in order to increase the
stock of knowledge and to devise new applications of available
knowledge. This includes a) activities aimed at acquiring new
knowledge or understanding without specific immediate commercial
applications or uses (basic research); b) activities aimed at solving a
specific problem or meeting a specific commercial objective (applied
research); and c) systematic work, drawing on research and practical
experience and resulting in additional knowledge, which is directed
to producing new products or processes or to improving existing
products or processes (development). R&D includes both direct
costs such as salaries of researchers as well as administrative and
overhead costs clearly associated with the company’s R&D.
The term R&D does NOT include expenditures for:

• routine debugging of existing systems and software
• Creation of new software based on known methods and
applications
• Conversion or translation of existing software and software
languages
• Adaptation of a product to a specific client, unless
knowledge that significantly improved the base program
was added in that process
25 Ownership
a. Voting interest and equity interest

• Costs for routine product testing, quality control, and technical
services unless they are an integral part of an R&D project
• Market research
• Efficiency surveys or management studies
• Literary, artistic, or historical projects, such as films, music, or
books and other publications
• Prospecting or exploration for natural resources
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
FORM BE-12C (REV 9/2017)

• adding functionality to existing application programs,
and

Page 16

(1) 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.
(2) 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

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM–Continued
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. Because foreign parent B owns all of
the voting stock, foreign parent B has a 100 percent voting
interest in U.S. affiliate A. However, because all 50 of the
nonvoting preferred shares are owned by U.S. investors,
foreign parent B has only a 50 percent interest in the
owners’ equity amount of U.S. affiliate A.
b. 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.
(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
the 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.
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-12 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. See
additional instructions on pages 27 and 28 of Form BE-12B.
B. 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. A BE-12 report is required unless
the enterprise is otherwise exempt.

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-12
must aggregate all such holdings for the purpose of applying the
reporting criteria. If the aggregate of such holdings exceeds one or
more of the exemption levels, then the holdings must be reported
even if individually they would be exempt. In such a case, file a
single Form BE-12 to report the aggregated holdings. If permission
has been received in writing from BEA to file on an non-aggregated
basis, the reports should be filed as a group and you should inform
BEA that they are all for one owner.

FORM BE-12C (REV 9/2017)

Page 17

On page 1, name and address of 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-12 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-12 survey forms might
be:

Sunrise Apartments
c/o ABC Real Estate
120 Major Street
Miami, FL XXXXX

There are items throughout the Form BE-12C that may not be
applicable to certain types of real estate investments, such as the
employer identification number and the number of employees. In such
cases, enter zero or leave items blank as appropriate.
C. 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-12 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-12 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-12
report must be filed by the owned affiliate. The BE-12 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 statement 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 treated as an expense.
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 reporting
should be as outlined 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),

V. SPECIAL INSTRUCTIONS–Continued

due no later than May 31, 2018 (or by June 30, 2018 for reporting
companies that use BEA’s eFile system). Go to www.bea.gov/efile
for details about using eFile.

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).

B. 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 may be submitted through the eFile
system at www.bea.gov/eFile. All requests for extensions must be
received NO LATER THAN May 31, 2018.

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 doing so, 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 neccesary 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 UBO are considered as
accounts or transactions of the U.S. affiliate with the UBO. 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 UBO 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 UBO. 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 UBO.
VI. FILING THE BE-12

C. Assistance – For assistance, telephone (301) 278-9247 or send
e-mail to be12/15@bea.gov. Forms are accessible through eFile
or can be obtained from BEA's web site at: www.bea.gov/fdi.
D. Electronic Filing – Forms that can be transmitted to BEA
electronically are available on the BEA website:
www.bea.gov/efile. If you eFile, please do not submit paper
reports.
E. Annual stockholders’ report or other financial statements –
Furnish a copy of your FY 2017 annual stockholders’ report or
Form 10-K when filing the BE-12 report. If you do not publish an
annual stockholders’ report or file Form 10K, 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. Retention of copies – Each U.S. affiliate must retain a copy of its
report to facilitate the resolution of problems. These copies should
be retained by the U.S. affiliate for at least 3 years after the report's
original due date.

A. Due date – A completed report, or Claim for Not Filing, covering
a reporting company’s fiscal year ending in calendar year 2017 is

FORM BE-12C (REV 9/2017)

Page 18