What is the BE-10 Filing?
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, which has a series of component parts, is the BEA’s benchmark survey of US direct investment abroad and is used to produce statistics on changing trends in investment activities of US-owned businesses in other countries. The BE-10 survey is conducted every five years and this year’s survey covers fiscal years ending in 2019.
Who needs to file?
Any U.S. person who had a direct or indirect ownership or control of at least 10% of the voting stock of an incorporated foreign business enterprise at any time during the 2019 fiscal year has an obligation to file the appropriate forms. This applies only applies to those with companies domiciled in the Turks & Caicos Islands. Companies domiciled within the Delaware Tribal Domicile do not need to file form BE-10.
When must this be filed?
The standard due date is Friday May 29th, 2020. This form can be e-filed and is typically prepared by an individual’s CPA. An extension to August 31st, 2020 is available for $50.
Where can I read more?
https://www.bea.gov/be-10-benchmark-survey-us-direct-investment-abroad
—————-
If you would like to engage Buckeye Dealership Consulting to handle this reporting for you, the cost is $350 and includes extension. Please email us at accounting@BuckeyeReinsurance.com to be put on the list.