Newsflash: Commerce Department Extends Deadline for BE-10 Reports and Important Clarifications for Asset Managers and Insurance Companies

May 29, 2015

On Thursday, May 28, the Bureau of Economic Analysis (BEA) issued an automatic one month extension to all first time filers of the BE-10 Benchmark Survey of U.S. Direct Investment Abroad. The extension grant, coming one day before the original filing deadline of May 29, has moved the deadline for all first time filers to June 30, 2015. This blanket deadline extension follows the publication of an FAQ clarifying the potential filing obligations of U.S. private funds. The BE-10 Survey, previously collected in 2010, imposes mandatory reporting requirements for all U.S. persons who control 10% or more of the voting securities of any non-U.S. affiliates. For additional information about the BE-10 Survey and a U.S. person’s reporting obligations thereunder, see the Dechert OnPoint "New Reporting Requirements Regarding Foreign Investment and Ownership."

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