[Federal Register: August 13, 2008 (Volume 73, Number 157)]
[Notices]
[Page 47130-47131]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr13au08-38]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection; Comment Request; Direct
Investments Survey: Direct Transactions of U.S. Reporter with Foreign
Affiliate
ACTION: Notice.
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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 take this opportunity to comment on
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995.
DATES: Written comments must be submitted on or before 5 p.m. October
14, 2008.
ADDRESSES: Direct all written comments to Diane Hynek, Departmental
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th
and Constitution Avenue, NW., Washington, DC 20230, or via e-mail at
dhynek@doc.gov.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection instrument and instructions should
be directed to David Galler, Chief, Direct Investment Division (BE-50),
Bureau of Economic Analysis, U.S. Department of Commerce, Washington,
DC 20230; phone: (202) 606-9835; fax: (202) 606-5318; or via e-mail at
David.Galler@bea.gov.
SUPPLEMENTARY INFORMATION:
I. Abstract
The 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 sample survey that covers all foreign
affiliates above a size-exemption level. The sample data are used to
derive universe estimates in nonbenchmark years from 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 the data
collected or in 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 $40 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.
As an alternative to filing paper forms, BEA will offer an
electronic filing option, its eFile system, for use in reporting on
Form BE-577. For more information about eFile go to http://www.bea.gov/
efile.
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 data year 2004, along with
the foreign business enterprises that subsequently entered the direct
investment universe. The data collected are 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: Business or other for-profit organizations.
Estimated Number of Respondents: 15,500 per quarter; 62,000
annually.
Estimated Time Per Response: 1 hour is the average, but may vary
according to the number, size, and complexity of the businesses covered
by the response.
Estimated Total Annual Burden Hours: 62,000.
Estimated Total Annual Cost to Public: $0.
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
[[Page 47131]]
included in the request for OMB approval of this information
collection; they also will become a matter of public record.
Dated: August 8, 2008.
Gwellnar Banks,
Management Analyst, Office of Chief Information Officer.
[FR Doc. E8-18699 Filed 8-12-08; 8:45 am]
BILLING CODE 3510-06-P