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ARTICLE · 12 MAY 2025

BE-10 Survey 2025: Implications For U.S. Asset Managers

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U.S. persons owning 10% or more of non-U.S. business enterprises will be required to file the Benchmark Survey of U.S. Direct Investments Abroad (BE-10) in the coming weeks unless they qualify for an exemption.

United StatesFinance and Banking
Julien Bourgeois
Julien Bourgeois
Matthew E. Barsamian
Matthew E. Barsamian
Keegan Farley
Keegan Farley
Louis Rosenbaum
Louis Rosenbaum

U.S. persons owning 10% or more of non-U.S. business enterprises will be required to file the Benchmark Survey of U.S. Direct Investments Abroad (BE-10) in the coming weeks unless they qualify for an exemption. As the most comprehensive survey administered by the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) every five years, BE-10 covers many U.S. asset managers and investment funds with direct investment abroad.1 As discussed in more detail below, the survey tracks financial and operating data of U.S. multinational enterprises and their Foreign Affiliates and is due by either May 30, 2025, or June 30, 2025, depending on the number of Foreign Affiliates to report. Non-submission of BE-10 carries the risk of both civil and criminal penalties.

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