The 2025 deadlines are approaching for U.S. individuals and entities to report international businesses and real estate interests to the U.S. Department of Commerce using Form BE-10.
Any U.S. person (individual, corporation, trust, partnership, estate, or other organization) that, at the end of their 2024 fiscal year, owned or controlled at least 10% of the voting stock of an incorporated foreign business enterprise (or an equivalent interest in an unincorporated foreign business enterprise) must file a BE-10 report every five years.
The deadline to complete the survey is May 30, 2025 (or, if a person needs to file 50 or more forms, June 30, 2025). Failure to file can result in potential civil and criminal fines or penalties.
What Is the BE-10 Benchmark Survey?
Form BE-10 is part of a mandatory survey conducted by the U.S. Bureau of Economic Analysis (BEA) to collect data on U.S. direct investment abroad.
Under the legislation, ownership of foreign real estate is generally viewed as a business enterprise for BE-10 purposes, with some exceptions for residential real estate held exclusively for personal use.
Each U.S. person required to submit a BE-10 survey must complete the Form BE-10A and a supplemental survey describing each foreign affiliate. The requested information includes the affiliate’s assets, sales, net income, number of employees, and other details.
The filing requirement applies regardless of whether the BEA has contacted the person or entity. If the ownership threshold is met, a filing is required
U.S. estates must file through their administrator or executor. Trusts are considered intermediaries and must either report the required information for their principal or instruct the principal to submit the required information.
Determining whether a U.S. individual or entity has a BE-10 reporting obligation can be complicated, especially for those holding interests in a multi-tiered ownership structure. We can help clients determine whether they have a reporting obligation, consolidate filings, and, if needed, assist with preparing Form BE-10.
If you are unsure if you meet the filing requirements, reach out to discuss your situation.
