Filing Deadline Approaches for Form BE-10 for Foreign Investments for Funds and Managers

Check List

What’s Happening: In 2014, the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) reinstated mandatory reporting of U.S. investment s abroad through Form BE-10 (2014 Benchmark Survey of U.S. Direct Investment Abroad). While the information the BEA collects is used to analyze the performance of the U.S. economy, the information submitted is confidential. The mandatory filing will affect investment managers, general partners, hedge funds and private equity funds, among others.

U.S. persons that had direct or indirect ownership or control of at least 10% of the voting stock of a foreign business enterprise (each a “Foreign Affiliate”) during the entity’s 2014 fiscal year must file Form BE-10. A U.S. general partner or investment manager of a private equity fund, hedge fund or other private fund could be subject to the filing requirements.

The filing deadlines are:

May 29, 2015 – if you are a U.S. Reporter filing to report fewer than 50 Foreign Affiliates.

June 30, 2015 – if you are a U.S. Reporter filing to report 50 or more Foreign Affiliates.

Oyster Consulting can assist your firm with its compliance needs, including compliance program support and reviews, risk assessments, ADV and Annual amendment filing, development and maintenance of policies and procedures, training, marketing, social media and technology reviews. For more information on how Oyster can help your firm stay ahead in the regulatory game, call us at (804) 965-5400 or contact us online here.

Author:  Oyster Senior Consultant, Harriet Britt