[Federal Register: March 24, 2003 (Volume 68, Number 56)]
[Notices]
[Page 14190-14191]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24mr03-37]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposal To Collect Information on Direct Transactions of U.S.
Reporter With Foreign Affiliate
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 May 23, 2003.
ADDRESSES: Direct all written comments to Diana Hynek, Departmental
Paperwork Clearance Officer, Office of the Chief Information Officer,
Department of Commerce, Room 6625, 14th and Constitution Avenue, NW.,
Washington, DC 20230, or via the Internet at dHynek@doc.gov, ((202)
482-0266).
FOR FURTHER INFORMATION CONTACT: Direct requests for additional
information or copies of the information collection instruments and
instructions to Obie G. Whichard, Department of Commerce, Bureau of
Economic Analysis, BE-50(OC), Washington, DC 20230, or via the Internet
at obie.whichard@bea.gov, ((202) 606-9890).
SUPPLEMENTARY INFORMATION:
I. Abstract
Form BE-577, Direct Transactions of U.S. Reporter with Foreign
Affiliate, obtains quarterly data on transactions and positions between
U.S.-owned foreign business enterprises and their U.S. parent
companies. The survey is a cut-off sample survey that covers all
foreign affiliates above a size-exemption level. The sample data are
used to derive universe estimates in nonbenchmark years by
extrapolating forward similar data reported in the BE-10, Benchmark
Survey of U.S. Direct Investment Abroad, which is taken every five
years. The data are used in the preparation of the U.S. international
transactions accounts, the input-output accounts, and the national
income and product accounts. 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.
The data from the survey are primarily intended as general purpose
statistics. They should be readily available to answer any number of
research and policy questions related to U.S. direct investment abroad.
The form remains the same as in the past. No changes in data
collected, or exemption levels are proposed.
II. Method of Collection
Survey forms will be sent to U.S. parent companies each quarter;
responses will be due within 30 days after the close of each fiscal
quarter, except for the final quarter of the fiscal year, when reports
should be filed within 45 days. A report must be filed for every
foreign business enterprise whose voting stock (or the equivalent) is
owned 10 percent or more by a U.S. business enterprise and for which
any one of the following three items was greater than $30 million
(positive or negative) at the end of, or for, the foreign business
enterprise's fiscal year: (1) Total assets, (2) sales or gross
operating revenues excluding sales taxes, or (3) net income after
provision for foreign income taxes.
Potential respondents are the U.S-owned foreign business
enterprises that were reported in the last benchmark survey of U.S.
direct investment abroad, which covered the year 1999, along with the
foreign business enterprises that subsequently entered the direct
investment universe. The data collected are cut-off sample data.
Universe estimates are developed from the reported sample data.
III. Data
OMB Number: 0608-0004.
Form Number: BE-577.
Type of Review: Regular submission.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 13,500 per quarter; 54,000
annually.
Estimated Time Per Response: 1.25 hours is the average, but may
vary according to the number, size, and complexity of the businesses
covered by the response.
Estimated Total Annual Burden: 67,500 hours.
Estimated Total Annual Cost: $2,025,000 (based on an estimated
reporting burden of 67,500 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 14191]]
Dated: March 18, 2003.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 03-6884 Filed 3-21-03; 8:45 am]
BILLING CODE 3510-06-P