81 FR 33658 - Proposed Information Collection; Comment Request; Direct Investment Surveys: BE-577, Quarterly Survey of U.S. Direct Investment Abroad-Transactions of U.S. Reporter With Foreign Affiliate, and Changes to Private Fund Reporting on Direct Investment Surveys
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis Federal Register Volume 81, Issue 103 (May 27, 2016)
Bureau of Economic Analysis
Federal Register Volume 81, Issue 103 (May 27, 2016)
| Page Range | 33658-33659 | |
| FR Document | 2016-12539 |
[Federal Register Volume 81, Number 103 (Friday, May 27, 2016)] [Notices] [Pages 33658-33659] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-12539] ----------------------------------------------------------------------- DEPARTMENT OF COMMERCE Bureau of Economic Analysis Proposed Information Collection; Comment Request; Direct Investment Surveys: BE-577, Quarterly Survey of U.S. Direct Investment Abroad--Transactions of U.S. Reporter With Foreign Affiliate, and Changes to Private Fund Reporting on Direct Investment Surveys ACTION: Notice. ----------------------------------------------------------------------- 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). DATES: Written comments must be submitted on or before July 26, 2016 ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental Paperwork Clearance Officer, [[Page 33659]] Department of Commerce, Room 6616, 14th and Constitution Avenue NW., Washington, DC 20230, or via email at [email protected]. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the information collection instrument and instructions should be directed to Patricia Abaroa, Chief, Direct Investment Division (BE- 49), Bureau of Economic Analysis, U.S. Department of Commerce, 4600 Silver Hill Rd., Washington, DC 20233; phone: (301) 278-9591; or via email at [email protected]. SUPPLEMENTARY INFORMATION: I. Abstract The Quarterly Survey of U.S. Direct Investment Abroad--Transactions of U.S. Reporter with Foreign Affiliate (Form BE-577) obtains quarterly data on transactions and positions between U.S.-owned foreign business enterprises and their U.S. parents. The survey is a sample survey that covers all foreign affiliates above a size-exemption level. The sample data are used to derive universe estimates in non-benchmark years from similar data reported in the BE-10, Benchmark Survey of U.S. Direct Investment Abroad, which is conducted every five years. The data are essential for the preparation of the U.S. international transactions accounts, the input-output accounts, the national income and product accounts, and the international investment position of the United States. The data are needed to measure the size and economic significance of direct investment abroad, measure changes in such investment, and assess its impact on the U.S. and foreign economies. BEA proposes to change the reporting requirements for certain private funds that file BEA's surveys of U.S. direct investment abroad: The BE-577, Quarterly Survey of U.S. Direct Investment Abroad; and the BE-11, Annual Survey of U.S. Direct Investment Abroad. The BE-10, Benchmark Survey of U.S. Direct Investment Abroad, will also be affected by this change but will be addressed in a proposed rule in 2019. BEA, in cooperation with the Treasury Department, proposes to instruct reporters of investments in private funds that meet the definition of direct investment (that is, ownership by one person of 10 percent or more of the voting interest of a business enterprise) but display characteristics of portfolio investment (specifically, investors do not intend to control or influence the management of an operating company) to report through the Treasury International Capital (TIC) reporting system, where other related portfolio investments are already being reported, and not to report on BEA's direct investment surveys. Direct investment in operating companies, including investment by and through private funds, will continue to be reported to BEA. This change will align the U.S. direct investment and portfolio investment data more closely with the intent of the investment. In addition, it will reduce burden for reporters, many of whom now report both to the TIC reporting system and to BEA's direct investment reporting system. Under the planned change, U.S. reporters will no longer be required to report on BEA surveys of U.S. direct investment abroad data for foreign affiliates that are private funds and do not own, directly or indirectly, 10 percent or more of the voting interest of another foreign business enterprise that is not also a private fund or holding company. Other changes that are specific to the BE-577 survey include improvements to question wording, instructions, and formatting to elicit more complete and accurate responses. BEA also plans to add an additional question on certain gains/losses to the annual section of this form to help verify the quarterly data. BEA expects the additional burden to be negligible because this information is only collected once each year. II. Method of Collection Notice of specific reporting requirements, including who is to report, the information to be reported, the manner of reporting, and the time and place of filing reports, will be mailed to potential respondents each quarter. Reports are due 30 days after the close of each calendar or fiscal quarter--45 days if the report is for the final quarter of the respondent's financial reporting year. Reports are required from each U.S. person that has a direct and/or indirect ownership interest of at least 10 percent of the voting stock in an incorporated foreign business enterprise, or an equivalent interest in an unincorporated foreign business enterprise, and that meets the additional conditions detailed in Form BE-577. Entities required to report will be contacted individually by BEA. Entities not contacted by BEA have no reporting responsibilities. Potential respondents are those U.S. business enterprises that reported owning foreign business enterprises in the 2014 benchmark survey of U.S. direct investment abroad, along with entities that subsequently entered the direct investment universe. The data collected are sample data. Universe estimates are developed from the reported sample data. As an alternative to filing paper forms, BEA offers an electronic filing option, the eFile system, for use in reporting on Form BE-577. For more information about eFile, go to www.bea.gov/efile. III. Data OMB Control Number: 0608-0004. Form Number: BE-577. Type of Review: Regular submission. Affected Public: Businesses or other for-profit organizations. Estimated Number of Respondents: 2,090 U.S. parents filing for 16,720 foreign affiliates per quarter, 66,880 annually. Estimated Time per Response: 1 hour is the average, but may vary considerably among respondents because of differences in company structure and complexity. Estimated Total Annual Burden Hours: 66,880. Estimated Total Annual Cost to Public: $0. Respondent's Obligation: Mandatory. Legal Authority: International Investment and Trade in Services Survey Act (Pub. L. 94-472, 22 U.S.C. 3101-3108, as amended by Pub. L. 98-573 and Pub. L. 101-533). 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 will have 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. Dated: May 23, 2016. Glenna Mickelson, Management Analyst, Office of Chief Information Officer. [FR Doc. 2016-12539 Filed 5-26-16; 8:45 am] BILLING CODE 3510-06-P
![33658 Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices
as 25 to 48 percent less productive than learning what additional steps could be the Federal Government do, that it is not
the world’s most efficient container taken to improve port/stakeholder doing now, to stimulate and/or leverage
ports. As the nationwide port collaboration and partnerships, as well private funding for port-related
congestion and slowdown in 2014 and as to improve investment in port infrastructure?
2015 demonstrated, what happens at infrastructure, equipment, and 4. What Federal policies should be
any one port, or group of ports, can have technology. modernized to promote U.S. port-related
far-reaching and nationwide impacts on This Notice is intended to supplement investment and operational
all U.S. ports and the companies and the Department’s roundtables by performance?
stakeholders that use and rely on them. soliciting public comment on the issues 5. How can the Federal Government
Port congestion and efficiency described below. The information best collaborate with stakeholders (state,
problems stem from a variety of factors, gained through these roundtables and local, labor, industry, port authorities,
only some of which are directly under this Notice will be used to develop a academia, financial institutions, etc.) to
a seaport’s control. Larger vessels, report on best practices that U.S. enhance U.S. port-related
growing trade volumes, insufficient seaports, stakeholders, and users can competitiveness?
infrastructure, operating inefficiencies, use as appropriate as a tool to help 6. What can the Federal Government
poor labor-management relations, and develop and implement mutually do—on its own or in coordination and
lack of communication and beneficial congestion relief and collaboration with state and local
collaboration among ports, stakeholders, efficiency improvement measures governments and the private sector—to
and users can result in inefficient cargo through coordination, collaboration, and enhance the value of ports as engines of
movement and congestion that can information sharing. The report is economic growth and job creation?
dramatically slow the movement of intended to be released in December 7. How can technology and data be
trade to and through America’s seaports, 2016. used to improve U.S. port and supply
ultimately resulting in lost sales, chain performance? What mechanisms,
markets, and jobs across the nation, and II. Objectives of This Notice if any, should the Federal Government
the loss of U.S. port and supply chain This Notice offers an opportunity for deploy to promote information sharing
competitiveness in the global all interested parties to share their and develop a common technology
marketplace. U.S. seaports’ inability to perspectives and recommend actions platform?
respond quickly enough to rapidly- that the Federal Government, state and 8. Are there actions that have been
changing industry and cargo flow local governments, and port users and taken by specific U.S. or foreign ports or
demands further compromises U.S. stakeholders—individually and other nations that should be highlighted
trade, competitiveness, and resiliency. together—can take to help address U.S. as best practices for ports? If so, please
In the U.S., most of the elements of port congestion and efficiency describe.
these port-related challenges are owned challenges, improve U.S. port and Dated: May 20, 2016.
by local government entities and supply chain competitiveness, and Bruce H. Andrews,
domestic and foreign companies, with enhance the role of ports as engines and Deputy Secretary.
limited communication across the full catalysts of local, regional, and national [FR Doc. 2016–12551 Filed 5–26–16; 8:45 am]
range of ports, users, and stakeholders economic development and job growth.
affected by these challenges. To address BILLING CODE 3510–17–P
these issues comprehensively and III. Questions
nationally, the U.S. Department of Commenters are encouraged to
Commerce is playing a convening role DEPARTMENT OF COMMERCE
address any or all of the following
for seaports, stakeholders, and users to questions. Please note in the response Bureau of Economic Analysis
help them work together to identify how the number corresponding to the
they can cooperate, collaborate, and question(s). For any response, Proposed Information Collection;
share information more effectively and commenters may wish to consider Comment Request; Direct Investment
efficiently in order to achieve mutually describing specific goals; actions and Surveys: BE–577, Quarterly Survey of
beneficial improvements, and how the roles that the United States Government, U.S. Direct Investment Abroad—
Federal Government can help spur ports, stakeholders, and users might Transactions of U.S. Reporter With
increasing public-private partnerships take to achieve these goals; evidence Foreign Affiliate, and Changes to
and investment that can improve port- that demonstrates the benefits and costs Private Fund Reporting on Direct
related operations, data-sharing associated with the action; and whether Investment Surveys
technology, and infrastructure. the proposal is inter-agency or agency-
Under this initiative, the Department specific. Specific, actionable proposals ACTION: Notice.
of Commerce has launched a series of for action and for policy mechanisms
regional port and supply chain SUMMARY: The Department of
directed to the relevant government Commerce, as part of its continuing
competitiveness roundtables at key agencies are most useful.
ports across the U.S., similar to the effort to reduce paperwork and
The Department seeks public
Administration’s 21st Century Ports respondent burden, invites the general
comment on the following questions:
Roundtable in Baltimore in March 2016. 1. What are the most important public and other Federal agencies to
Through these roundtables, the challenges and opportunities facing U.S. comment on proposed and/or
Department is learning what leading port-related operations and efficiency? continuing information collections, as
U.S. seaports are doing, together with 2. What are best practices for required by the Paperwork Reduction
sradovich on DSK3TPTVN1PROD with NOTICES
their stakeholders, to improve their improving port-related operations? How Act of 1995, Public Law 104–13 (44
ability to coordinate, collaborate, and can the Federal Government help to U.S.C. 3506(c)(2)(A)).
share information towards identifying share these best practices nationwide? DATES: Written comments must be
and resolving operational port and 3. How can the Federal Government submitted on or before July 26, 2016
infrastructure inefficiencies that best promote the coordinated use of ADDRESSES: Direct all written comments
negatively impact trade flows and cause public funds for the development of to Jennifer Jessup, Departmental
congestion. The Department is also port-related infrastructure? What can Paperwork Clearance Officer,
VerDate Sep<11>2014 18:00 May 26, 2016 Jkt 238001 PO 00000 Frm 00005 Fmt 4703 Sfmt 4703 E:\FR\FM\27MYN1.SGM 27MYN1](https://thefederalregister.org/doc/81_FR_33761/page/1.svg)
![Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices 33659
Department of Commerce, Room 6616, International Capital (TIC) reporting estimates are developed from the
14th and Constitution Avenue NW., system, where other related portfolio reported sample data.
Washington, DC 20230, or via email at investments are already being reported, As an alternative to filing paper
jjessup@doc.gov. and not to report on BEA’s direct forms, BEA offers an electronic filing
FOR FURTHER INFORMATION CONTACT: investment surveys. Direct investment option, the eFile system, for use in
Requests for additional information or in operating companies, including reporting on Form BE–577. For more
copies of the information collection investment by and through private information about eFile, go to
instrument and instructions should be funds, will continue to be reported to www.bea.gov/efile.
directed to Patricia Abaroa, Chief, Direct BEA. This change will align the U.S.
direct investment and portfolio III. Data
Investment Division (BE–49), Bureau of
Economic Analysis, U.S. Department of investment data more closely with the OMB Control Number: 0608–0004.
Commerce, 4600 Silver Hill Rd., intent of the investment. In addition, it
will reduce burden for reporters, many Form Number: BE–577.
Washington, DC 20233; phone: (301)
278–9591; or via email at of whom now report both to the TIC Type of Review: Regular submission.
Patricia.Abaroa@bea.gov. reporting system and to BEA’s direct Affected Public: Businesses or other
investment reporting system. Under the for-profit organizations.
SUPPLEMENTARY INFORMATION:
planned change, U.S. reporters will no Estimated Number of Respondents:
I. Abstract longer be required to report on BEA 2,090 U.S. parents filing for 16,720
The Quarterly Survey of U.S. Direct surveys of U.S. direct investment abroad foreign affiliates per quarter, 66,880
Investment Abroad—Transactions of data for foreign affiliates that are private annually.
U.S. Reporter with Foreign Affiliate funds and do not own, directly or
indirectly, 10 percent or more of the Estimated Time per Response: 1 hour
(Form BE–577) obtains quarterly data on is the average, but may vary
voting interest of another foreign
transactions and positions between considerably among respondents
business enterprise that is not also a
U.S.-owned foreign business enterprises because of differences in company
private fund or holding company.
and their U.S. parents. The survey is a Other changes that are specific to the structure and complexity.
sample survey that covers all foreign BE–577 survey include improvements to Estimated Total Annual Burden
affiliates above a size-exemption level. question wording, instructions, and Hours: 66,880.
The sample data are used to derive formatting to elicit more complete and
universe estimates in non-benchmark Estimated Total Annual Cost to
accurate responses. BEA also plans to Public: $0.
years from similar data reported in the add an additional question on certain
BE–10, Benchmark Survey of U.S. Direct Respondent’s Obligation: Mandatory.
gains/losses to the annual section of this
Investment Abroad, which is conducted form to help verify the quarterly data. Legal Authority: International
every five years. The data are essential BEA expects the additional burden to be Investment and Trade in Services
for the preparation of the U.S. negligible because this information is Survey Act (Pub. L. 94–472, 22 U.S.C.
international transactions accounts, the only collected once each year. 3101–3108, as amended by Pub. L. 98–
input-output accounts, the national 573 and Pub. L. 101–533).
income and product accounts, and the II. Method of Collection
IV. Request for Comments
international investment position of the Notice of specific reporting
United States. The data are needed to requirements, including who is to Comments are invited on: (a) Whether
measure the size and economic report, the information to be reported, the proposed collection of information
significance of direct investment abroad, the manner of reporting, and the time is necessary for the proper performance
measure changes in such investment, and place of filing reports, will be of the functions of the Agency,
and assess its impact on the U.S. and mailed to potential respondents each including whether the information will
foreign economies. quarter. Reports are due 30 days after have practical utility; (b) the accuracy of
BEA proposes to change the reporting the close of each calendar or fiscal the Agency’s estimate of the burden
requirements for certain private funds quarter—45 days if the report is for the (including hours and cost) of the
that file BEA’s surveys of U.S. direct final quarter of the respondent’s proposed collection of information; (c)
investment abroad: The BE–577, financial reporting year. Reports are ways to enhance the quality, utility, and
Quarterly Survey of U.S. Direct required from each U.S. person that has clarity of the information to be
Investment Abroad; and the BE–11, a direct and/or indirect ownership collected; and (d) ways to minimize the
Annual Survey of U.S. Direct interest of at least 10 percent of the burden of the collection of information
Investment Abroad. The BE–10, voting stock in an incorporated foreign on respondents, including through the
Benchmark Survey of U.S. Direct business enterprise, or an equivalent use of automated collection techniques
Investment Abroad, will also be affected interest in an unincorporated foreign or other forms of information
by this change but will be addressed in business enterprise, and that meets the technology.
a proposed rule in 2019. additional conditions detailed in Form Comments submitted in response to
BEA, in cooperation with the BE–577. Entities required to report will this notice will be summarized and/or
Treasury Department, proposes to be contacted individually by BEA. included in the request for OMB
instruct reporters of investments in Entities not contacted by BEA have no approval of this information collection;
private funds that meet the definition of reporting responsibilities. they also will become a matter of public
direct investment (that is, ownership by Potential respondents are those U.S.
sradovich on DSK3TPTVN1PROD with NOTICES
record.
one person of 10 percent or more of the business enterprises that reported
voting interest of a business enterprise) owning foreign business enterprises in Dated: May 23, 2016.
but display characteristics of portfolio the 2014 benchmark survey of U.S. Glenna Mickelson,
investment (specifically, investors do direct investment abroad, along with Management Analyst, Office of Chief
not intend to control or influence the entities that subsequently entered the Information Officer.
management of an operating company) direct investment universe. The data [FR Doc. 2016–12539 Filed 5–26–16; 8:45 am]
to report through the Treasury collected are sample data. Universe BILLING CODE 3510–06–P
VerDate Sep<11>2014 18:00 May 26, 2016 Jkt 238001 PO 00000 Frm 00006 Fmt 4703 Sfmt 9990 E:\FR\FM\27MYN1.SGM 27MYN1](https://thefederalregister.org/doc/81_FR_33761/page/2.svg)
Document Created: 2018-02-07 15:10:15
Document Modified: 2018-02-07 15:10:15
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | Written comments must be submitted on or before July 26, 2016 | |
| Contact | Requests for additional information or copies of the information collection instrument and instructions should be directed to Patricia Abaroa, Chief, Direct Investment Division (BE- 49), Bureau of Economic Analysis, U.S. Department of Commerce, 4600 Silver Hill Rd., Washington, DC 20233; phone: (301) 278-9591; or via email at [email protected] | |
| FR Citation | 81 FR 33658 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR