March 3, 2025 Update: The 2024 forms are now live on the BEA website. BE-10 extensions may be allowed, but to be determined on case-by-case basis and require a six-digit reporter ID number.
The Bureau of Economic Analysis (BEA) requires all U.S. persons with a 10% or greater direct or indirect voting interest in a foreign affiliate or foreign business enterprise to file the Form BE-10 benchmark survey. This mandatory survey is conducted every five years and applies to ownership in a foreign corporation, foreign partnership, unincorporated foreign business, or branch holding foreign rental real estate.
Filing Requirements
All U.S. persons meeting the reporting criteria must file Form BE-10, regardless of whether they receive a direct notification from the BEA. The survey consists of multiple forms, each with specific reporting obligations based on the characteristics of the U.S. reporter and its foreign affiliates:
Form BE-10A – Required for all U.S. reporters with foreign affiliates; includes details on total assets, sales, and net income.
Form BE-10B – Required for each majority-owned foreign affiliate with assets, sales, or net income exceeding $80 million.
Form BE-10C – Required for each majority-owned foreign affiliate with assets, sales, or net income between $25 million and $80 million, as well as for each minority-owned foreign affiliate with assets, sales, or net income exceeding $25 million.
Form BE-10D – Required for each foreign affiliate with assets, sales, or net income of $25 million or less.
Form BE-10: Claim for Not Filing – To be submitted if the reporting entity determines it is not required to file.
Extension Requests
The BEA may grant extensions for filers who provide substantive reasons justifying additional time. Extension requests must be submitted before the filing deadline, and approval is not automatic. The BEA will issue written responses for all requests.
Penalties for Noncompliance
Failure to comply with the BE-10 filing requirements may result in civil penalties. Non-willful failure to report can lead to fines starting at $2,500 and up to $59,114.
We will provide an update once further details are released. In the meantime, we encourage all affected entities to begin preparing for this important filing requirement.
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