The BE-10 is a non-tax international filing requirement for United States Persons (individuals and organizations) owning specific investments outside of the country. The survey is a way for the US Bureau of Economic Analysis (BEA) to accumulate economic data regarding US Reporters and their international affiliates.

Who Needs to File a BE-10?

  1. People and entities that own real estate outside of the United States and lease the property to others
  2. People and entities that own a non-US legal entity that leases realty to others or operates a business
  3. People and entities that own a US legal entity that owns another non-US legal entity and conducts business activities

According to the BEA, any US person who had a foreign affiliate must file. The BEA defines a US person as a resident of the United States or a person subject to its jurisdiction. They also define a foreign affiliate as a business enterprise located in another country that is owned by a US citizen to the extent of 10% or more of its voting stock for an incorporated business or equivalent interest for an unincorporated business.

For example, a US citizen who owns 15% interest in real estate in Taiwan who collected $15,000 in rental revenue would be responsible for filing a BE-10.

When Is the BE-10 Due?

For US reporters who need to file less than 50 forms, the deadline is May 29, 2020, and for those filing 50 or more the deadline is June 30, 2020. Visit the BEA website for information on extensions as a result of COVID-19. You can file securely online at the BEA website or send the report by mail or direct private delivery.

What Happens if You Do Not File the BE-10?

You will be subject to a civil penalty or injunctive relief that forces you to comply, or both. If you willfully fail to report, you could be fined or imprisoned.

How Do You File Your BE-10?

Every US Reporter will have a different situation, so you should carefully complete the BE-10 Survey. There are up to five forms you will need to complete, including the BE-10, BE-10A, BE-10B, BE-10C and BE-10D. There is no fee due for the filing, but Rubino & Company offers survey support services designed to determine which forms you must file, complete them and assist you. To learn more about our BE-10 support services, contact us.

Rely on Rubino & Company for Filing Your BE-10

Since 1980, Rubino & Company has provided expert outsourced accounting services and consulting services to healthcare organizations, non-profits, commercial organizations and individuals. Whether you need assistance with attestation or tax consulting, we strive to be your resource for consulting and accounting services. To learn more about our outsourced accounting services, please call us today at (301) 564-3636.