BE-12 Benchmark Survey Filing

BE-12 Benchmark Survey Mandatory Filing Due May 31, 2023

OVERVIEW

BE-12:   The Mandatory Survey Filing Required by All Businesses in 2023

The BE-12 is like a census of all US companies to collect general foreign investment information on a vast cross-section of businesses. This survey is conducted every five years and, unlike the quarterly and annual versions, the BE-12 is mandatory to file regardless of whether the company is notified by the BEA. However, the BE-12 Benchmark Survey is geared towards smaller companies.  

All entities with more than 10% foreign ownership or interests at the end of the year in 2022 must file the BE-12, including ecommerce sites that distribute products digitally, and partnerships with real estate held for non-personal use. Every 5 years, each US business with foreign owners or investors that was an active business in 2022 is required to file this survey by May 31, 2023.  The penalties for not filing can be civil penalties of $2,500 to $25,000, as well as a criminal penalty of $10,000.  Don’t worry - we can file for you for only $499.  

Overwhelmed by yet another filing requirement? Need help with filing the BE-12?

We can help!  For only $499, we can file your BE-12, as one of four forms is required (depending on your business criteria).  Even if you are exempt from filing, you need to file the form “BE-12 Claim for Not Filing”.  Therefore, the form should still be filed to indicate that you are not required to file the form!

Just purchase the survey filing for $499, fill out a simple questionnaire and we’ll take care of it for you.  If we are preparing your taxes, we will have most of the information to complete the survey for you – without any hassle.

BE-12 FAQ

What is the Bureau of Economic Analysis (BEA) BE-12 Benchmark Survey?

The BE-12 is BEA's benchmark survey of foreign direct investment in the United States, which is conducted every five years.  It is like a census for foreign investment in US businesses. The BEA generates statistics on foreign-owned business activities in the US to analyze the impacts of those investments on jobs, wages, productivity and taxes.

This survey is mandatory for companies with more than 10% foreign ownership.  The Bureau of Economic Analysis (BEA) conducts surveys on US investment abroad and direct foreign investment to prepare official economic statistics for the US Government.   The BEA conducts regular surveys that require transaction-related, quarterly, annual, and benchmark filings.

Is my company required to file the BE-12 benchmark survey?

All entities with more than 10% foreign ownership or interests at the end of the year in 2022 must file, including ecommerce sites that distribute products digitally, and partnerships with real estate held for non-personal use. 

I do not meet BE-12 filing requirements. Do I have to file a survey?

Even if you do not meet the criteria, you still have to file the BE-12 “Claim for Not Filing” form - a form to say you’re not required to file!  If you were notified by BEA to file a BE-12 survey, but your business does not meet the filing requirements, the BE-12 “Claim for Not Filing” must be submitted.  

What if I file the annual BE-15?  Do I need to file the BE-12 as well?

Businesses that file a BE-15 annual survey will file the BE-12 instead for 2022. 

Each US Business must file one of four different forms, based on these criteria:

Form BE-12A - U.S. entities with 50% or more ownership by foreign parents with total assets, sales or operating revenues exceeding $300 million at the end of 2022. 

Form BE-12B - U.S. entities with 50% or more ownership by foreign parents with total assets, sales or operating revenues from $60 - $300 million at the end of 2022. 

Form BE-12C - U.S. entities with 10% or more ownership by foreign parents with total assets, sales or operating revenues not exceeding $60 million at the end of 2022.

Form BE-12 Claim for Not Filing - For either (1) a U.S. affiliate that consolidated into or merged with another U.S. affiliate, OR (2) an entity that is not directly or indirectly foreign-owned or has foreign combined shareholding of less than 10%

What if I don't file or miss the deadline?  Receive a notice from the BEA about the BE-12?  

A civil penalty can be imposed of between $2,500 and $25,000 as well as a criminal penalty of $10,000.  If you have incorporated in the last 5 years then this requirement may be new to you, and there may be relief available for failure to file if you were unaware of your requirements. We can help both to file the report and assist with resolving any issues that might arise from filing late reports. 

If you are unsure if you meet the filing requirements, we can help at hello@cleer.tax.

Monthly
Annual

BE-12 Benchmark Survey Filing

$

/month

$

499

/mo

if billed annually

$

499

one time

BE-12 Benchmark Survey Mandatory Filing Due May 31, 2023
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