[Federal Register: October 4, 2006 (Volume 71, Number 192)]
[Notices]
[Page 58578-58579]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04oc06-35]
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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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
[[Page 58579]]
DATES: Written comments must be submitted on or before 5 p.m., December
4, 2006.
ADDRESSES: Direct all written comments to Diana Hynek, Departmental
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th
and Constitution Avenue, NW., Washington, DC 20230 (or e-mail
dhynek@doc.gov).
FOR FURTHER INFORMATION CONTACT: Obie G. Whichard, Chief, International
Investment Division, (BE-50), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230; phone (202) 606-9890 (or
e-mail obie.whichard@bea.gov).
SUPPLEMENTARY INFORMATION:
I. Abstract
The Transactions of U.S. Affiliates, 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 ``affiliated foreign groups''
(i.e., their foreign parents and foreign affiliates of their foreign
parents). The data collected are used in the preparation of the U.S.
international transactions accounts, national income and product
accounts, and input-output accounts. The data are 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.
BEA proposes the following changes to the survey to reduce
respondent burden: (1) Redesign Form BE-605 to incorporate all
instructions into the form, placing them, for the most part, on the
pages facing the items to be reported; convert the most complicated
instructions into separate line item questions; and, to further clarify
the reporting requirements, include illustrative diagrams adjacent to
questions pertaining to the ownership structure of the U.S. business
enterprise and its affiliated foreign groups. (2) Delete questions from
Form BE-605 and BE-605 Bank requesting information on receipts and
payments for services transactions between the U.S. business enterprise
and its affiliated foreign groups. BEA will propose to include these
questions on its surveys covering trade in services, beginning with the
first quarter of calendar year 2007.
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 gross operating revenues, or net income
(positive or negative) of over $30 million. Potential respondents are
those U.S. business enterprises that were required to report in the BE-
12, Benchmark Survey of Foreign Direct Investment in the United
States--2002, along with those U.S. business enterprises 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 affiliated foreign groups.
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 organizations.
Estimated Number of Respondents: 3,950 per quarter; 15,800
annually.
Estimated Time Per Response: 1 hour.
Estimated Total Annual Burden Hours: 15,800.
Estimated Total Annual Cost: $632,000 (based on an estimated
reporting burden of 15,800 hours and an estimated hourly cost of $40).
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: September 28, 2006.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. E6-16327 Filed 10-3-06; 8:45 am]
BILLING CODE 3510-06-P