November 30, 2016
As 2016 comes to a close, and a renewed focus on cross-border business ownership and transactions has arisen, it is in the best interest of businesses small and large, their owners and financial officers, to make sure their BE-13 filing obligations with the U.S. Department of Commerce's BEA have been met.
The following parties are affected:
BE-13 compliance obligations are broadly applicable and arise when a U.S. business that is 10% or more foreign owned (directly or indirectly) is newly established, expands, or engages in merger or acquisition activity. This includes, for example, U.S. real estate acquisitions by foreign parties and expansions by U.S. subsidiaries of foreign businesses into new facilities or through the acquisition of business units or business segments from third parties. Reports are due within 45 days of the triggering event.
We believe compliance should be simple.