As you may be aware, May 29, 2015 was the deadline for certain filings on Form BE-10 required by the U.S Bureau of Economic Analysis. The filings must be made by any U.S. person that had a "foreign affiliate" in 2014, which means direct or indirect ownership or control of at least 10% of the voting stock of a foreign enterprise. "U.S. person" includes U.S. companies, companies incorporated in a foreign jurisdiction but operating in the U.S., and most individuals residing in the U.S. with a direct ownership interest in a foreign affiliate.
If you are required to file but did not do so before the deadline, we have secured an automatic extension for all Fenwick clients that are first-time filers until June 30, 2015. We have included below links to the Form BE-10 instructions and the various BE-10 forms. Please reference the "Fenwick & West Extension" when submitting the forms. If you have questions regarding whether you are required to file or regarding completing the form, or if you would like assistance with completing the form, please contact any of the Fenwick attorneys with whom you work or Fenwick attorney Ashley Walter.
Form BE-10 instructions:
https://www.bea.gov/surveys/pdf/be10/BE-10%20Instructions.pdf
To access the BE-10 Forms:
http://www.bea.gov/surveys/respondent_be10.htm
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.