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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:
0608-0009
ICR Reference No:
202401-0608-001
Status:
Active
Previous ICR Reference No:
202011-0608-001
Agency/Subagency:
DOC/EASA
Agency Tracking No:
200712-0608-004
Title:
Quarterly Survey of Foreign Direct Investment in the United States--Transactions of U.S. Affiliate with Foreign Parent
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
Yes
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
04/22/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/01/2024
Terms of Clearance:
April, 2024: No Terms of Clearance or special comments.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2027
36 Months From Approved
04/30/2024
Responses
26,000
0
17,800
Time Burden (Hours)
26,000
0
17,800
Cost Burden (Dollars)
0
0
0
Abstract:
The BE-605 survey secures data on transactions between U.S. business enterprises and their affiliated foreign groups needed to compile U.S. international transactions, input-output, and national income and product accounts and the international investment position of the United States. The data are also needed to measure the size and economic significance of foreign investment in the U.S., measure changes in such investment, and assess its impact on the U.S. and foreign economies.
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:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
88 FR 77077
11/08/2023
30-day Notice:
Federal Register Citation:
Citation Date:
89 FR 3907
01/22/2024
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
BE-605, Quarterly Survey of Foreign Direct Investment in the United States--Transactions of U.S. Affiliate with Foreign Parent
BE-605
Quarterly Survey of Foreign Direct Investment in the United States
ICR Summary of Burden
Total Approved
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
26,000
17,800
0
8,200
0
0
Annual Time Burden (Hours)
26,000
17,800
0
8,200
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:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The estimated annual respondent burden for this collection is 26,000 hours; the estimated respondent burden for the previous collection was 17,200 hours. The increase in the estimated respondent burden is due to the growth in the number of reporting foreign-owned U.S. business enterprises (U.S. affiliates) since the survey was last cleared.
Annual Cost to Federal Government:
$2,100,000
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Jessica Hanson 301 278-9595 jessica.hanson@bea.gov
Common Form ICR:
Yes
Description/Changes for Common Form Usage:
Approved RCFs using this ICR
Agency/Sub Agency
RCF ID
RCF Title
RCF Status
IC Title
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:
03/01/2024
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