BE-185 Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons

ICR 202407-0608-002

OMB: 0608-0065

Federal Form Document

ICR Details
0608-0065 202407-0608-002
Received in OIRA 202110-0608-001
DOC/EASA BE-185
BE-185 Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons
Revision of a currently approved collection   No
Regular 11/13/2024
  Requested Previously Approved
36 Months From Approved 01/31/2025
2,860 2,860
23,740 24,140
0 0

The Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons (Form BE-185) is an ongoing survey that collects data from U.S. persons who engage in covered financial services transactions with foreign persons. A U.S. person must report if they had combined sales of covered financial services to foreign persons that exceeded $20 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 financial services from foreign persons that exceeded $15 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 financial 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 financial 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 financial services component of the U.S. international transactions accounts (ITAs) and national income and product accounts (NIPAs).

PL: Pub.L. 94 - 472 22 U.S.C. 3101-3108 Name of Law: International Investment and Trade in Services Survey Act
  
None

Not associated with rulemaking

  89 FR 63398 08/05/2024
89 FR 88952 11/12/2024
No

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 2,860 2,860 0 0 0 0
Annual Time Burden (Hours) 23,740 24,140 0 -400 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
Minor adjustment to burden from prior approval - no change in the estimate number of reporters or the distribution of response type

$878,000
Yes Part B of Supporting Statement
    No
    No
No
No
No
No
Christopher Stein 202 606-9850

  No

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.
11/13/2024


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