[Federal Register Volume 63, Number 132 (Friday, July 10, 1998)]
[Notices]
[Pages 37318-37319]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-18334]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Annual Survey of Foreign Direct Investment in the United States

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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments must be submitted on or before September 8, 
1998.

ADDRESSES: Direct all written comments to Linda Engelmeier, 
Departmental Forms Clearance Officer, Department of Commerce, Room 
5327, 14th and Constitution Avenue, NW, Washington, DC 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 Annual Survey of Foreign Direct Investment in the United States 
(Form BE-15) is necessary to provide reliable, useful, and timely 
measures of foreign direct investment in the United States. The annual 
survey covers all affiliates above a size-exemption level and collects 
annual data on the financial structure and operations of nonbank U.S. 
affiliates of foreign companies needed to update similar data for the 
universe of U.S. affiliates collected once every 5 years in the BE-12 
benchmark survey. The data are used to derive annual estimates of the 
operations of U.S. affiliates of foreign companies, including their 
balance sheets; income statements; property, plant, and equipment; 
external financing; employment and employee

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compensation; merchandise trade; sales of goods and services; taxes; 
and research and development (R&D) activity. The data will be used to 
measure the economic significance of foreign direct investment in the 
United States and to analyze its effect on the U.S. economy. They will 
also be used in formulating, and assessing the impact of, U.S. policy 
on foreign direct investment.
    Several revisions to the survey are being proposed to bring it into 
conformity with the BE-12 Benchmark Survey of Foreign Direct Investment 
in the United States--1997. BEA proposes to raise the exemption level 
for the survey to $30 million on the BE-15(SF) short form, up from $10 
million (measured by the company's total assets, sales, or net income 
or loss), thereby reducing respondent burden for small companies; on 
the survey's long form, the BE-15(LF), the exemption level will be 
raised to $100 million, up from $50 million. In addition, BEA proposes 
to base industry coding on the North American Industry Classification 
System (NAICS) in place of the U.S. Standard Industrial Classification 
system, and to modify the detail collected on the composition of 
external financing of the reporting enterprise, on research and 
development expenditures, and on the operations of foreign-owned 
businesses in individual States.

II. Method of Collection

    The BE-15 annual survey will be sent to potential respondents at 
the end of March each year. A completed report covering a reporting 
company's fiscal year ending during the previous calendar year will be 
due to be filed by May 31, 60 days after mailing. Reports must be filed 
by every nonbank 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 report in the 1997 benchmark survey of 
foreign direct investment in the United States, along with affiliates 
that subsequently enter the direct investment universe. The BE-15 is a 
cutoff-sample survey, as described; universe estimates are developed 
from the reported data.

III. Data

    OMB Number: 0608-0034.
    Form Number: BE-15.
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 4,975.
    Estimated Time Per Response: 26 hours.
    Estimated Total Annual Burden: 128,000 hours.
    Estimated Total Annual Cost: $3,840,000 (based on an estimated 
reporting burden of 128,000 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.

    Dated: July 6, 1998.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and 
Organization.
[FR Doc. 98-18334 Filed 7-9-98; 8:45 am]
BILLING CODE 3510-06-P