US Persons Holding Foreign Investments May Undergo Penalties for Failing to Submit the BE-10 and BE-13 by June 30th

Date: 06/23/2015
Source: ONV LAW

The Bureau of Economic Analysis (BEA) requires all U.S. persons that held 10% or more of the voting equity in a foreign business enterprise during the 2014 fiscal year to submit the BE-10 filings by June 30th, informs ONV LAW. In addition, certain U.S. entities in connection with significant U.S. investments by foreign persons in 2014 must submit the BE-13 filing. In both cases the submission is mandatory, regardless of whether the relevant US persons received a direct request to do so or not. For more information please access the overview of the E-10 and BE-13 forms.
The BE-10 must be submitted by June 30th, 2015, for first-time filers. There can be substantial penalties for non-compliance.

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