BE-125 Quarterly Survey of
Transactions in Selected Services and Intellectual Property with
Foreign Persons
Revision of a currently approved collection
No
Regular
09/09/2024
Requested
Previously Approved
36 Months From Approved
11/30/2024
11,200
8,800
187,200
144,800
0
0
The Quarterly Survey of Transactions
in Selected Services and Intellectual Property with Foreign Persons
(Form BE-125) is an ongoing survey that collects data from U.S.
persons who engage in covered transactions in selected services or
intellectual property with foreign persons. A U.S. person must
report if they had combined sales of covered services or
intellectual property to foreign persons that exceeded $6 million
for the previous fiscal year, or are expected to exceed that amount
during the current fiscal year, or if they had combined purchases
of covered services or intellectual property from foreign persons
that exceeded $4 million for the previous fiscal year, or are
expected to exceed that amount during the current fiscal year. The
data are needed to monitor U.S. trade in services, to analyze the
impact of these cross-border services on the U.S. and foreign
economies, to compile and improve the U.S. economic accounts, to
support U.S. commercial policy on trade in services, to conduct
trade promotion, and to improve the ability of U.S. businesses to
identify and evaluate market opportunities. The data are used in
estimating the trade in services component of the U.S.
international transactions accounts (ITAs) and national income and
product accounts (NIPAs).
There has been an overall
increase in the estimated number of reporters meeting the mandatory
requirements for filing on a quarterly basis. There has been no
change in the agency estimate of the time for reporters to complete
the survey. BEA proposes to separately collect space passenger and
space freight services to better measure space transport services.
Currently, the BE-125 Quarterly Survey of Transactions in Selected
Services and Intellectual Property with Foreign Persons collects
transactions for “Space transport services” (transaction code 38)
as a single category on the survey. BEA estimates there will be no
change in the average number of burden hours per response because
of the small number of reporters who will be impacted by the
change. Furthermore, the affected reporters should not experience a
noticeable impact to burden because the data are already collected
by BEA as a combined transaction category, and it is believed this
additional level of detail is readily available in their accounting
records.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Form BE-125 Quarterly Survey of Transactions in Selected Services and Intellectual Property with Foreign Persons
BE-125 Supporting Statement A 2024_Final September.docx
Quarterly Survey of Transactions in Selected Services and Intellectual Property with Foreign Persons