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@044 CHAP 9
┌───────────────────────────────────────────────┐
│ FOREIGN INVESTMENT IN U.S. BUSINESSES -- │
│ REPORTING REQUIREMENTS FOR FOREIGN INVESTORS │
└───────────────────────────────────────────────┘
Under the Foreign Direct Investment and International Finan-
cial Data Improvements Act of 1990, foreign individuals own-
ing or acquiring a 10% or more voting interest in U.S.
businesses, including interests in U.S. real estate, must
report certain information, including annual financial and
operating data, to the U.S. Department of Commerce. Fail-
ure to file can result in civil penalties of $2,500 to
$25,000. (22 U.S.C. Sec. 3101-3108)
Reporting requirements under this law may be summarized as
follows:
. Forms BE-13, BE-13C Exemption Claim, and BE-14 -- The
initial investment reports representing establishment
or acquisition of a U.S. affiliate. (A person is
excused from filing these reports only in the case
of purchases of U.S. real estate exclusively for
personal, non-business use.)
. Forms BE-605 and BE-606B -- Quarterly reporting for
qualifying reporters.
. Form BE-15 -- Annual reporting form.
. Form BE-12 -- Quinquennial (every 5 years) reporting
in benchmark surveys.
For more information on this new law, write to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-50 (IN)
Washington, D.C. 20230
(202) 523-0547