Is the U.S. business enterprise a private fund?

This decision tool is for foreign-owned U.S. business enterprises that are private funds. For information on reporting requirements for foreign direct investment in the United States, see www.bea.gov/fdi.

Is the U.S. private fund owned by a foreign entity?

If the U.S. private fund is not foreign owned, it is not required to report on BEA surveys of foreign direct investment in the United States. However, if this U.S. private fund is indirectly foreign-owned through another U.S. business enterprise, return to the previous question and select "yes".

Does the foreign owner have a voting interest in the U.S. private fund?

Were you contacted by BEA about filing a BE-12, BE-15, BE-13, or BE-605 report for this U.S. private fund?

The U.S. private fund should not report on BEA surveys of foreign direct investment in the United States conducted in 2017. The foreign investment in the U.S. private fund may be required to be reported on Treasury International Capital (TIC) surveys. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

The U.S. private fund should not report on BEA surveys of foreign direct investment in the United States conducted in 2017. The foreign investment in the U.S. private fund may be required to be reported on Treasury International Capital (TIC) surveys.

Please do both:

  1. Complete the BE-15 Claim for Exemption or complete "Part VII Claim for Exemption" of the BE-605 form. Both of these are available from www.bea.gov/fdi.
  2. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

The U.S. private fund should not report on BEA surveys of foreign direct investment in the United States conducted in 2017. The foreign investment in the U.S. private fund may be required to be reported on Treasury International Capital (TIC) surveys. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

The U.S. private fund should not report on BEA surveys of foreign direct investment in the United States conducted in 2017. The foreign investment in the U.S. private fund may be required to be reported on Treasury International Capital (TIC) surveys.

Please do both:

  1. Complete the BE-15 Claim for Exemption or complete "Part VII Claim for Exemption" of the BE-605 form. Both of these are available from www.bea.gov/fdi.
  2. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

Does the consolidated U.S. reporter own a foreign business enterprise that is a private fund?

Does the foreign owner have at least 10 percent of the voting interest in the U.S. private fund?

Does the foreign entity directly own the U.S. private fund?

Select the statement that best describes the U.S. business enterprise(s) that are between the foreign owner and the indirectly-owned U.S. private fund in the ownership chain:

Does the U.S. private fund own at least 10 percent of the voting interest in any other U.S. or foreign business enterprises?

Select the statement that best describes the U.S. and/or foreign business enterprises in which the U.S. private fund has at least a 10 percent voting interest, either directly, or indirectly through another business enterprise:

Does the foreign entity own at least 10 percent of the voting interest of an operating company through the U.S. private fund?

This U.S. private fund should report on BEA surveys of foreign direct investment in the United States. Reporting requirements, survey forms, and instructions are available at www.bea.gov/fdi.

This U.S. private fund should report on BEA surveys of foreign direct investment in the United States. Reporting requirements, survey forms, and instructions are available at www.bea.gov/fdi.

This decision tool is for U.S. reporters with ownership in foreign private funds. For information on reporting requirements for U.S. direct investment abroad, see www.bea.gov/dia.

Is the U.S. reporter's ownership in the foreign private fund a voting interest?

Were you contacted by BEA about filing a BE-10, BE-11, or BE-577 report for this foreign private fund?

The U.S. reporter should not include this foreign private fund on BEA surveys of U.S. direct investment abroad. The U.S. reporter's investment in the foreign private fund may be required to be reported on Treasury International Capital (TIC) Surveys. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

The U.S. reporter should not include this private fund foreign affiliate on BEA surveys of U.S. direct investment abroad. The U.S. reporter's investment in the foreign private fund may be required to be reported on Treasury International Capital (TIC) surveys.

Please do both:

  1. Inform BEA by selecting this affiliate in BEA's electronic filing system (eFile) at www.bea.gov/efile. If this is your first time using eFile, you will need to create a user account and submit an eFile link request using your BE-11 ID (available in the BE-11 survey materials mailed to you).  After logging in to your user account, select your BE-10/11 filing from the User Account Home Page. On the next page click on "Identify Private Funds" and follow the instructions provided.
  2. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

The U.S. reporter should not include this private fund foreign affiliate on BEA surveys of U.S. direct investment abroad. The U.S. reporter's investment in the foreign private fund may be required to be reported on Treasury International Capital (TIC) surveys.

Please do both:

  1. Inform BEA by selecting this affiliate in BEA's electronic filing system (eFile) at www.bea.gov/efile. If this is your first time using eFile, you will need to create a user account and submit an eFile link request using your BE-11 ID (available in the BE-11 survey materials mailed to you).  After logging in to your user account, select your BE-10/11 filing from the User Account Home Page. On the next page click on "Identify Private Funds" and follow the instructions provided.
  2. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

The U.S. reporter should not include this foreign private fund on BEA surveys of U.S. direct investment abroad. The U.S. reporter's investment in the foreign private fund may be required to be reported on Treasury International Capital (TIC) Surveys. Review reporting requirements for TIC surveys at www.treasury.gov/tic.

Does the U.S. reporter own at least 10 percent of the voting interest in the foreign private fund?

Is the foreign private fund owned directly by the U.S. reporter?

Does the foreign private fund own at least 10 percent of the voting interest in any other U.S. or foreign business enterprises?

Does the foreign private fund own at least 10 percent of the voting interest in any other U.S. or foreign business enterprises?

Select the statement that best describes the U.S. and/or foreign business enterprises in which the foreign private fund has at least a 10 percent voting interest, either directly, or indirectly through another business enterprise:

Select the statement that best describes the foreign business enterprise(s) that are between the consolidated U.S. reporter and the indirectly-owned foreign private fund in the ownership chain:

Does the U.S. reporter own at least 10 percent of the voting interest of an operating company through the foreign private fund?

The U.S. reporter should include this private fund foreign affiliate on BEA surveys of U.S. direct investment abroad. The U.S. reporter must also include other foreign business enterprises that are in the same ownership chain as this foreign private fund (either above it or below it). Reporting requirements, survey forms, and instructions are available at www.bea.gov/dia.

The U.S. reporter should include this private fund foreign affiliate on BEA surveys of U.S. direct investment abroad. The U.S. reporter must also include other foreign business enterprises that are in the same ownership chain as this foreign private fund (either above it or below it). Reporting requirements, survey forms, and instructions are available at www.bea.gov/dia.

Private Funds Reporting Change

The Bureau of Economic Analysis (BEA) and the Treasury Department implemented a change that simplifies how certain cross-border investments by or into private funds are reported on Treasury International Capital (TIC) surveys of portfolio investment and BEA surveys of direct investment. This webpage provides resources to help private fund reporters determine how the change affects their reporting requirements.

New
Having trouble determining if an entity is affected by the change to survey reporting requirements for private funds?

These tools will help you determine their reporting obligation.

U.S. Investments in Foreign Private Funds Foreign Investments in U.S. Private Funds

Additional Resources