[Federal Register Volume 62, Number 152 (Thursday, August 7, 1997)]
[Notices]
[Pages 42485-42486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-20755]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposal to Collect Information on Transactions of U.S.
Affiliates With Their Foreign Parents
ACTION: Proposed collection; comment request.
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SUMMARY: The Department of Commerce, as part of its continuing effort
to reduce paperwork and respondent burden, invites the general public
and other Federal agencies to comment on proposed and/or continuing
information collections, as required by the Paperwork Reduction Act of
1995, Pub. L. 104-13 (44 U.S.C. 3506(c)(2)(A)).
DATES: Written comments must be submitted on or before October 6, 1997.
ADDRESSES: Direct all written comments to Linda Engelmeier,
Departmental Forms Clearance Officer, Department of Commerce, Room
5327, 14th and Constitution Avenue, NW, Washington, D.C. 20230.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection instruments and instructions
should be directed to: R. David Belli, U.S. Department of Commerce,
Bureau of Economic Analysis, BE-50(OC), Washington, D.C. 20230
(Telephone: 202-606-9800).
SUPPLEMENTARY INFORMATION:
I. Abstract
The Transactions of U.S. Affiliate, Except a U.S. Banking
Affiliate, with Foreign Parent (Form BE-605) and Transactions of U.S.
Banking Affiliate with Foreign Parent (Form BE-605 Bank), obtain
quarterly sample data on transactions and positions between foreign-
owned U.S. business enterprises and their foreign parents. The data are
needed for compiling the U.S. balance of payments accounts, the
international investment position of the United States, and the
national income and product accounts. The data are also needed to
measure the amount of foreign direct investment in the United States,
monitor changes in such investment, assess its impact on the U.S. and
foreign economies, and, based upon this assessment, make informed
policy decisions regarding foreign direct investment in the United
States.
The survey is being revised to bring it into conformity with the
proposed design of the BE-12 Benchmark Survey of Foreign Direct
Investment in the United States--1997. Beginning with the report
covering the first quarter of 1998, BEA plans to raise the exemption
level for reporting to $30 million (measured by the foreign-owned U.S.
business enterprise's total assets, sales or gross operating revenues,
or net income or loss) from $20 million, thereby reducing respondent
burden for small companies. It also plans to request, for the first
time, that trade in services between U.S. affiliates and their foreign
parents be reported once each year by type of service.
II. Method of Collection
Forms BE-605 and BE-605 Bank are quarterly reports that must be
filed within 30 days after the end of each quarter (45 days after the
final quarter of the respondent's fiscal year) by every U.S. business
enterprise that is owned 10 percent or more by a foreign investor and
that has total assets, sales, or net income (or loss) of over $30
million. Potential respondents are those U.S. business enterprises that
reported in the last benchmark survey of foreign direct investment in
the United States, along with those affiliates that subsequently
entered the direct investment universe. The data collected are sample
data covering transactions and positions between foreign-owned U.S.
business enterprises and their foreign parents. Universe estimates are
developed from the reported sample data.
III. Data
OMB Number: 0608-0009.
Form Number: BE-605/BE-605 Bank.
Type of Review: Regular submission.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 3,950 per quarter; 15,800
annually.
Estimated Time Per Response: 1\1/4\ hours.
Estimated Total Annual Burden: 19,750 hours.
Estimated Total Annual Cost: $592,500 (based on an estimated
reporting burden of 19,750 hours and an estimated hourly cost of $30).
IV. Request for Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information has practical utility;
(b) the accuracy of the agency's estimate of the burden (including
hours and cost) of the proposed collection of information; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval of this information
collection; they also will become a matter of public record.
[[Page 42486]]
Dated: July 31, 1997.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and
Organization.
[FR Doc. 97-20755 Filed 8-6-97; 8:45 am]
BILLING CODE 3510-06-P
