80 FR 15985 - BE-45: Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons

DEPARTMENT OF COMMERCE
Bureau of Economic Analysis

Federal Register Volume 80, Issue 58 (March 26, 2015)

By this Notice, the Bureau of Economic Analysis (BEA), Department of Commerce, is informing the public that it is conducting the mandatory survey titled Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons (BE-45). This survey is authorized by the International Investment and Trade in Services Survey Act.

[Federal Register Volume 80, Number 58 (Thursday, March 26, 2015)]
[Notices]
[Pages 15985-15986]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-06942]


-----------------------------------------------------------------------

DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

[Docket No. 150128086-5086-01]
RIN 0691-XC034]


BE-45: Quarterly Survey of Insurance Transactions by U.S. 
Insurance Companies With Foreign Persons

AGENCY: Bureau of Economic Analysis, Commerce.

ACTION: Notice of reporting requirements.

-----------------------------------------------------------------------

SUMMARY: By this Notice, the Bureau of Economic Analysis (BEA), 
Department of Commerce, is informing the public that it is conducting 
the mandatory survey titled Quarterly Survey of Insurance Transactions 
by U.S. Insurance Companies with Foreign Persons (BE-45). This survey 
is authorized by the International Investment and Trade in Services 
Survey Act.

SUPPLEMENTARY INFORMATION: This Notice constitutes legal notification 
to all United States persons (defined below) who meet the reporting 
requirements set forth in this Notice that they must respond to, and 
comply with, the survey. Reports are due 60 days after the end of the 
U.S. person's fiscal quarter, except for the final quarter of the U.S. 
person's fiscal year when reports must be filed within 90 days. This 
notice is being issued in conformance with the rule BEA issued in 2012 
(77 FR 24373) establishing guidelines for collecting data on 
international trade in services and direct investment through notices, 
rather than through rulemaking. Additional information about BEA's 
collection of data on international trade in services and direct 
investment can be found in the 2012 rule, the International Investment 
and Trade in Services Survey Act (22 U.S.C. 3101 et seq.), and 15 CFR 
part 801. Survey data on

[[Page 15986]]

international trade in services and direct investment that are not 
collected pursuant to the 2012 rule are described separately in 15 CFR 
part 801. The BE-45 survey forms and instructions are available on the 
BEA Web site at www.bea.gov/ssb.

Definitions

    (a) Person means any individual, branch, partnership, associated 
group, association, estate, trust, corporation, or other organization 
(whether or not organized under the laws of any State), and any 
government (including a foreign government, the United States 
Government, a State or local government, and any agency, corporation, 
financial institution, or other entity or instrumentality thereof, 
including a government-sponsored agency).
    (b) United States person means any person resident in the United 
States or subject to the jurisdiction of the United States.
    (c) United States, when used in a geographic sense, means the 50 
States, the District of Columbia, the Commonwealth of Puerto Rico, and 
all territories and possessions of the United States.
    (d) Foreign person means any person resident outside the United 
States or subject to the jurisdiction of a country other than the 
United States.

Reporting

    Who Must Report: (a) Reports are required from U.S. persons whose 
covered transactions exceeded $8 million (positive or negative) in the 
prior fiscal year, or are expected to exceed that amount during the 
current fiscal year.
    (b) Entities required to report will be contacted individually by 
BEA. Entities not contacted by BEA have no reporting responsibilities.
    What To Report: The survey collects information on cross-border 
insurance transactions between U.S. insurance companies and foreign 
persons.
    How To Report: Reports can be filed using BEA's electronic 
reporting system at www.bea.gov/efile. Copies of the survey forms and 
instructions, which contain complete information on reporting 
procedures and definitions, may be obtained at the BEA Web site given 
above. Form BE-45 inquiries can be made by phone to BEA at (202) 606-
5588 or by sending an email to [email protected].
    When To Report: Reports are due to BEA 60 days after the end of the 
fiscal quarter, except for the final quarter of the reporter's fiscal 
year, when reports must be filed within 90 days.

Paperwork Reduction Act Notice

    This data collection has been approved by the Office of Management 
and Budget (OMB) in accordance with the Paperwork Reduction Act and 
assigned control number 0608-0066. An agency may not conduct or 
sponsor, and a person is not required to respond to, a collection of 
information unless it displays a valid control number assigned by OMB. 
Public reporting burden for this collection of information is estimated 
to average 8 hours per response. Send comments regarding this burden 
estimate to Director, Bureau of Economic Analysis (BE-1), U.S. 
Department of Commerce, Washington, DC 20230; and to the Office of 
Management and Budget, Paperwork Reduction Project 0608-0066, 
Washington, DC 20503.

    Authority:  22 U.S.C. 3101-3108.

Brian C. Moyer,
Director, Bureau of Economic Analysis.
[FR Doc. 2015-06942 Filed 3-25-15; 8:45 am]
 BILLING CODE 3510-06-P