The Bureau of Economic Analysis (BEA) is a federal agency of the United States Department of Commerce. The BEA produces economic statistics regarding US GDP, foreign trade and investment, and other industry data. Specifically for foreign business, the BEA collects its data by having corporations file several mandatory forms for various purposes. These forms are collected to measure the amount of new and current foreign direct investment in the US, which can then inform the US government on its economic policy decisions. Some of these forms include the BE-13, BE-15, and BE-12.

If a corporation has more than 10% foreign ownership, it must file a Form BE-13 within 45 days of its formation. However, if it costs less than $3 million to create or acquire the new corporation, then the corporation files a BE-13 Exemption Form.

BE-15 Forms are mandatory annual reports of a corporation’s financial statements. These forms are based on total assets, gross operating revenues, and net income. Corporations reporting greater than $300 million on any of these metrics file Form BE-15A, between $120-300 million file Form BE-15B, between $40-120 million file Form BE-15C, and if a corporation reports revenues less than $40 million it files a BE-15 Exemption Form.

Finally, the BE-12 Form is the most comprehensive financial and operating data survey for foreign-affiliated corporations and must be filed every five years. Like the BE-15, BE-12 forms are split based on income range, with BE-12A for revenues greater than $300 million, BE-12B for between $60-300 million, and BE-12C for revenues under $60 million.

These forms are mandatory for corporations and are essential for the BEA to have the most accurate understanding of foreign investment in the US. Because of their significance, an experienced international accounting firm will likely file these forms as part of their routine services.