Form BE-10, “Benchmark Survey of U.S. Direct Investment Abroad,” issued by the Commerce Department’s Bureau of Economic Analysis (BEA), is filed every 5 years for U.S. Persons with Non-U.S. Investments. If you are subject to filing this survey, you must be aware of its upcoming May 30, 2025 deadline.
The BE-10 survey is one of many mandatory surveys to collect information on US investment abroad and foreign investment in the US. The BE-10 survey is conducted every five years and this year’s survey covers fiscal years ending in 2024. The survey is used to produce statistics on the scale and effects of US-owned business activities abroad.
Who Must File
- Any U.S. person or entity with a direct or indirect voting interest of 10% or more in a foreign affiliate or foreign business enterprise at the end of the U.S. person’s 2024 fiscal year
- Foreign affiliates include incorporated and unincorporated entities (i.e., partnerships)
- Ownership of a foreign rental is considered a foreign affiliate
- Foreign property used for personal use only or is owned by a foreign affiliate does not have to be reported separately
- If the foreign affiliate has operations in more than one country, a separate BE-10B, C or D must be filed for every country it has operations in
The BEA allows filers to request a standard extension up to 30 days, and potentially up to 60 days in certain cases for submitting the BE-10 Benchmark Survey, provided taxpayers offer a substantive reason for the delay. Extension requests must be submitted before the May 30th filing deadline, and approval is not automatic.
If you think that you or your entity may be subject to filing the BE-10, the team at Wheeler Accountants is able to assist you.
408-252-1800