We’re in another reporting year for the Bureau of Economic Analysis (BEA) Benchmark Survey on U.S. Direct Investment Abroad, and it’s time for individuals and businesses with foreign holdings to pay attention.
Every five years, the BEA conducts a comprehensive Benchmark Survey (Form BE-10) to collect data on U.S. direct investments overseas. The current reporting year covers any fiscal year ending in 2024, and filings are due by May 30, 2025.
What Is the Bureau of Economic Analysis (BEA)?
The BEA is an agency within the U.S. Department of Commerce responsible for producing statistics that help provide a picture of the U.S. economy, including international investment flows. These surveys help inform policymakers and the public about the economic relationships between the U.S. and other countries.
What Is the BE-10 Survey?
The BE-10, or Benchmark Survey of U.S. Direct Investment Abroad, is a mandatory report for any U.S. person or business that owns at least 10% of a foreign business or entity, including real estate or any other profit-generating enterprise. If you or your business falls under any of the below you are likely required to file.
This includes, but is not limited to:
- Form 5471 filers (foreign corporations)
- Form 8865 filers (foreign partnerships)
- Form 8858 filers (foreign disregarded entities or branches)
- Even Form 1040 filers who own foreign rental properties (Schedule E) or operate a foreign business (Schedule C)
Who Must File?
Filing applies to any U.S. entity or individual with direct or indirect ownership or control of at least 10% of a foreign affiliate. This includes ownership through partnerships, S corporations, trusts, or other passthrough entities.
Foreign affiliates may include:
- Real estate held for income or investment
- Operating businesses
- Holding companies
Which Forms Are Filed?
The BE-10 survey is made up of several forms:
- BE-10A – Report for the U.S. Reporter (the U.S. individual or business that owns the foreign affiliate)
- BE-10B, BE-10C, or BE-10D – Report for each foreign affiliate, depending on size and activity level
Most filers will submit at least two reports: one for themselves as the U.S. owner, and one for each foreign affiliate they control.
Important Notes:
- Filing is required even if you are not contacted by the BEA.
- Penalties may apply for failure to file or for filing inaccurate information.
- The survey is confidential and used only for statistical purposes.
Is the Process Difficult?
- In most cases, completing the BE-10 is manageable to self-prepare, especially if the information is already being gathered for tax reporting. However, interpreting BEA’s definitions and ensuring consistency in reporting can be nuanced.
Don’t Wait to File
If you or your business had any direct investment abroad during your 2024 fiscal year, now is the time to start gathering the necessary information and assessing your filing obligation. The BE-10 survey is not just for large multinationals — many small businesses, individuals, and even expats may need to comply.
Our international tax professionals are here to help clients navigate BEA reporting with ease and accuracy.
