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Current Reporting Requirements for Foreign Direct Investment in the United States
October 2006

All foreign investments in U.S. business enterprises in which a foreign person owns a 10 percent or greater voting interest (or equivalent) are subject to reporting requirements to the Bureau of Economic Analysis (BEA). This includes reporting all ownership of real estate, improved and unimproved, other than for personal use.

Parr Waddoups has filed the required reports as requested by and required for its foreign clients and clients who are U.S. affiliates of foreign persons or companies. We would be happy to assist you in preparing and filing the required reports.

There are four categories of required reports:

1. Initial investment reports, for reporting the establishment or acquisition of a U.S. affiliate (Forms BE-13 and BE-13C-Exemption Claim);

2. Quarterly balance of payments reports, for qualifying reporters (Forms BE-605 and BE-605 Bank);

3. Annual reports, for qualifying reporters (Forms BE-15(LF), BE-15(SF), BE-15(EZ), and BE-15 Supplement C-Exemption Claim); and

4. Quinquennial reports in benchmark surveys (Forms BE-12(LF), BE-12(SF), BE-12 Bank, and BE-12X-Exemption Claim).