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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
0608-0067
ICR Reference No:
200610-0608-001
Status:
Historical Inactive
Previous ICR Reference No:
200606-0608-003
Agency/Subagency:
DOC/EASA
Agency Tracking No:
200707-0608-125
Title:
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Preapproved
Conclusion Date:
01/18/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/21/2006
Terms of Clearance:
The Bureau of Economic Analysis will request a no material/nonsubstantive change to a currently approved collection through ROCIS as soon as it modifies and finalizes the complete set of IC forms/documents for the Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons and before they are used to collect information from the public. The documents preapproved for this ICR are those with the latest date for each individual document type.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2010
36 Months From Approved
08/31/2007
Responses
4,000
0
2,200
Time Burden (Hours)
64,000
0
35,200
Cost Burden (Dollars)
0
0
0
Abstract:
This survey will obtain quarterly sample data on transactions between U.S. and foreign persons in intangible assets and services transactions. The data are needed, among other purposes, to support U.S. trade policy initiatives, including trade negotiations, and to compile the U.S. international transactions and the national income and product accounts.
Authorizing Statute(s):
PL:
Pub.L. 94 - 472 3101-3108
Name of Law: International Investment and Trade in Services Survey Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
0691-AA61
Proposed rulemaking
71 FR 223
11/20/2006
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
BE-125
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
BE-125
Quarterly Survey of Transactions in Selected Services and Intangible Assets with Foreign Persons
ICR Summary of Burden
Total Request
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
4,000
2,200
0
1,800
0
0
Annual Time Burden (Hours)
64,000
35,200
0
28,800
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The increase in burden is a result of several factors – more U.S. persons with transactions in international services, the inclusions of services previously collected on the annual BE-22 survey (which will be discontinued), and the inclusion of transactions with affiliated foreign persons. From the perspective of the overall burden associated with BEA surveys, it should be noted that reductions in the burden can be expected to result from the consolidation of reporting of affiliated and unaffiliated services transactions on a single survey. Respondents will have a single set of instructions, and they will need to pass through their internal accounting records only once, to complete the new survey, instead of receiving as many as four separate surveys, each requiring a separate pass through the instructions and the respondents’ internal accounting records.
Annual Cost to Federal Government:
$535,000
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Obie Whichard 202 606-9890 obie.whichard@bea.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/21/2006
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