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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.

ONV LAW has been at the forefront of the legal profession for almost 15 years, providing legal services primarily in Public Procurement and Concessions, Litigation, Corporate, Tax and Aviation Law, as well as in other areas to a portfolio of over 300 clients locally and abroad. As members of Interlaw and Legal Netlink Alliance, ONV LAW is committed to quality, integrity, and creativity, with passion and team spirit underlying daily business.

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