Form Be 605 PDF Details

Form 605 is an important document for businesses and individuals in California. This form is used to report and pay taxes on the net income of a business entity. The form must be filed annually, and there are penalties for failing to file on time. Knowing how to fill out Form 605 correctly is essential for ensuring compliance with tax law in California. In this article, we will walk you through the steps of filling out Form 605 correctly. We will also provide some tips on how to save money on your business taxes in California. Let's get started!

Question	Answer
Form Name	Form Be 605
Form Length	16 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	4 min
Other names	be 605, form be 605, printable be 605 form, be 605 form

Form Preview Example

BE-605 (Rev. 02/2018)		OMB Control No. 0608-0009: Approval Expires 02/28/2021
	QUARTERLY SURVEY OF FOREIGN DIRECT		BE-605 Identification Number	BEA USE ONLY
			BE-605 Identification Number	BEA USE ONLY

	INVESTMENT IN THE UNITED STATES
	Transactions of U.S. Affiliate with Foreign Parent
	Mandatory฀and฀Confidential฀฀
	Mandatory฀and฀Confidential฀฀

Electronic ﬁling & secure messaging:

1Is this report a submission of a past report?

www.bea.gov/eﬁle

Telephone:(301) 278-9422

302	1	1
302

	1	2

Yes No

E-mail:	BE605@bea.gov		What is the date range and year within which the U.S. afﬁliate’s
E-mail:	BE605@bea.gov	2
		2
Mail reports to:			quarter ends for this report? Mark (X) one and enter year.

U.S. Department of Commerce

Bureau of Economic Analysis฀

Direct Investment Division, BE-49(Q)

4600 Silver Hill Rd

Washington, DC 20233

300	1	1	1	1	2	2	0
	1	2	3		4

2/16–5/15 5/16–8/15

8/16–11/15 11/16–2/15

Year

Name and mailing address of the consolidated U.S. afﬁliate

Deliver reports to:

U.S. Department of Commerce

Bureau of Economic Analysis

Direct Investment Division, BE-49(Q)

4600 Silver Hill Rd

Suitland, MD 20746

FAX reports to: (301) 278-9503

Copies of form: www.bea.gov/fdi

Deﬁnitions: Underlined terms are deﬁned on page 16.

Due date: 30 days after the close of each calendar or ﬁscal quarter end; 45 days if the report is for the ﬁnal quarter of the ﬁnancial reporting year.

Who must report: A Form BE-605 is required from every U.S. business enterprise in which a foreign entity owns, directly and/or indirectly, 10 percent or more of the voting securities of an incorporated U.S. business enterprise, or an equivalent interest of an unincorporated U.S. business enterprise, at

any time during the quarter. Reports are required even though the U.S. business enterprise may have been established, acquired, liquidated, sold, or inactivated during the reporting period. Certain฀private฀funds฀may฀be฀exempt฀from฀filing,฀see฀item฀E฀of฀the฀Claim฀for฀Exemption฀on฀page฀14฀for฀more฀ information.

Basic requirement: A Form BE-605 must be ﬁled for each 1) directly-owned U.S. afﬁliate for which total assets; annual sales or gross operating revenues, excluding sales taxes; or annual net income after provision for U.S. income taxes was greater than $60 million (positive or negative) at any time during the afﬁliate’s ﬁscal reporting year and each 2) indirectly-owned U.S. afﬁliate that met the $60 million threshold and had an intercompany debt balance with the afﬁliated foreign group.

Exemption: A U.S. afﬁliate that does not meet the basic requirement above can claim exemption from ﬁling a Form BE-605 by completing this page and the Claim for Exemption, Contact Information, and Certiﬁcation sections on pages 14 and 15 of this form and returning them to BEA by the due date. If this is an initial ﬁling of the BE-605 report, then also complete and return pages 3 and 5.

Monetary Values — Report in U.S. dollars rounded to thousands (omitting 000).	$	Bil. Mil.	Thous.	Dols.
	1
If an item is between + or – $500.00, enter “0.” Use parentheses () to indicate negative numbers.
		1	335	000
EXAMPLE – If amount is $1,334,891.00, report as

Accounting methods and records: Report items according to U.S. Generally Accepted Accounting Principles (U.S. GAAP), unless otherwise speciﬁed. Corporations should use the same methods and records that are used to generate reports to stockholders, except where the instructions indicate a deviation from U.S. GAAP.

•Reports for unincorporated businesses should be generated on an equivalent basis.

•References to Financial Accounting Standards Board Accounting Standards Codiﬁcation topics are indicated with “FASB ASC” and a topic number (for example, FASB ASC 350).

Estimates: If actual amounts are not available, supply estimates and label them as such.

Faxing your report: When submitting this report via fax, send ONLY those pages on which information is reported, including the front page and the Claim for Exemption section (if completed). DO NOT send pages that only contain instructions.

Month Day Year

3Is this the first time the U.S. affiliate is filing a BE-605 report?

3401 1 Yes – Enter the date the U.S. business enterprise became a U.S. afﬁliate ..........................341 1 2 No

4Is the U.S. afﬁliate planning to expand, or in the process of expanding, its operations to include a new facility where business is conducted?

3431 1

1 2

Yes No

Rules for Consolidating the U.S. Afﬁliate

Foreign Parent

≥10%

Foreign

United States

Consolidated U.S. Afﬁliate

U.S. Entity (A)

Voting interest is the

percent of ownership

>50% voting interest

in the voting securities

of an incorporated

business enterprise or

U.S. Entity (B)

an equivalent interest

in an unincorporated

business enterprise,

>50% voting interest

including a branch or

≤50% voting

partnership.

U.S. Entity (C)

interest

≤90% voting interest

Foreign

U.S. Entity (D)

Foreign Entity

Entity

(Z)

≥10% voting interest

U.S. Entity

(E)

U.S. Entity (A) should ﬁle as the consolidated U.S. afﬁliate shown in the diagram above.

INCLUDE in the consolidation

•The U.S. Entity (A) in which no other U.S. entity has more than 50 percent direct voting interest; and

•Every U.S. Entity (B) and U.S. Entity (C) in which the U.S. Entity (A), or another consolidated U.S. entity, has more than 50 percent direct voting interest AND in which NO foreign entity, other than this foreign parent, has 10 percent or more direct voting interest.

EXCLUDE from the consolidation

•All foreign entities, including any Foreign Entity (Z) that is owned by a consolidated U.S. entity; and

•Any U.S. Entity (D) in which neither the U.S. Entity (A) nor any other consolidated U.S. entity has more than 50 percent direct voting interest; and

•Any U.S. Entity (E) in which a DIFFERENT foreign entity, other than this foreign parent, has 10 percent or more direct voting interest.

Hereinafter on this form the consolidated U.S. entities are collectively considered the U.S. afﬁliate.

Report the ownership interest in any U.S. Entity (D), U.S. Entity (E), and Foreign Entity (Z) on an equity basis, if the ownership is at least 20 percent. If less than 20 percent, report the ownership interest as trading securities or available- for-sale securities in accordance with FASB ASC 320 (formerly FAS 115).

Each U.S. Entity (D) and U.S. Entity (E) must ﬁle its own Form BE-605, unless it qualiﬁes for exemption.

The U.S. afﬁliate must ﬁle a Form BE-577 for each Foreign Entity (Z) in which it has 10 percent or more voting interest, unless it qualiﬁes for exemption. For more information, go to www.bea.gov/dia.

Page 2

FORM BE-605 (Rev. 02/2018)

Part I – Identifying the U.S. Afﬁliate

003

Which type of business organization best describes this U.S. afﬁliate?

1	1	■ A U.S. business enterprise incorporated in the United States
1	2
		■	An unincorporated U.S. business enterprise, such as a branch, partnership, real estate, etc.
1	3
		■	A U.S. limited liability company (LLC)

6If the U.S. afﬁliate’s industry classiﬁcation, based on the largest source of sales or gross operating revenues, has changed, or if this is an initial ﬁling, please enter the appropriate code.

See the Industry Code Guide on www.bea.gov/NAICS2012. . . . . . . . . . . . . . . . . . . . . . 342

Current

Industry Code

_ _ _ _

Revised

11_ _ _ _

303

006

Has the ownership structure of this U.S afﬁliate changed since the previous quarter? See page 2 for guidance in identifying the entities that comprise the U.S. afﬁliate.

1 1 ■ Yes – Please provide a chart showing the new ownership structure, if available.

12 ■ No

What type of equity interest does the foreign parent hold in this U.S. afﬁliate? (Check one box)

1 1 ■ Only a direct equity interest – SKIP to 10 .

1 2 ■ Only an indirect equity interest through another U.S. afﬁliate – ONLY complete 9 and Part IV , 15 through 22 . Amounts representing this U.S. afﬁliate’s equity accounts are part of another higher-tier U.S. afﬁliate’s BE-605 report and should not be duplicated here. See Diagram 1.

1 3 ■ Both a direct equity interest AND an indirect equity interest through another U.S. afﬁliate –

• If BOTH a direct and indirect equity interest are held by the SAME foreign parent, this U.S. afﬁliate should be fully consolidated into the BE-605 report ﬁled by the higher-tier U.S. afﬁliate that owns it, and any minority interest not held by the foreign parent either directly or indirectly must be eliminated. In the example at the right, this U.S. afﬁliate should be fully consolidated into the BE-605 report ﬁled by the higher-tier U.S. afﬁliate that owns it directly. See Diagram 2.

• If a direct and an indirect equity interest are held by DIFFERENT foreign parents, this U.S. afﬁliate must ﬁle Form BE-605 for EACH foreign parent. In the example at the right, this U.S. afﬁliate may not be fully consolidated into the BE-605 report ﬁled by the higher-tier U.S. afﬁliate because of the direct ownership held by foreign parent A. See Diagram 3.

1 4 ■ No equity interest (only voting interest) – ONLY complete Part IV , 15 through 22 .

Diagram 1

Foreign Parent≥

10%

Higher-tier

U.S. Afﬁliate

10–50%

This U.S. Afﬁliate

Diagram 2

Foreign Parent

10%

Higher-tier

10%

≥

U.S. Afﬁliate

10–90%

This U.S. Afﬁliate

Diagram 3

Foreign Parent A

Foreign Parent B

10%

-tier

≥

Higher≥

U.S. Afﬁliate

10–90%

This U.S. Afﬁliate

9What is the name of each U.S. afﬁliate that has a direct equity interest in this U.S. afﬁliate?

309

FORM BE-605 (Rev. 02/2018)

Page 3

Part II – Identifying the Afﬁliated Foreign Group and Ultimate Beneﬁcial Owner

Identifying the Afﬁliated Foreign Group

The afﬁliated foreign group (AFG) consists of

•The foreign parent (FP), which is the ﬁrst Foreign Entity (B) outside the United States, proceeding up a chain of ownership, that has 10 percent or more voting interest in the U.S. afﬁliate, and

•Every foreign afﬁliate of the foreign parent (FAFP), which includes

°Any Foreign Entity (A), proceeding up the foreign parent’s ownership chain, that has more than 50 percent direct voting interest in the entity below it, up to and including that entity in which no other foreign entity has more than 50 percent direct voting interest, and

°Any Foreign Entity (C) and Foreign Entity (D), in which the FP or any FAFP has more than 50 percent direct voting interest.

The AFG does not include:

•Any Foreign Entity (E) in which neither the FP nor any FAFP has more than 50 percent direct voting interest, or

•Any U.S. entity.

Afﬁliated Foreign Group

FAFP

Foreign Entity (A)

>50% voting interest				>50% voting interest



Foreign Parent (FP)				FAFP
Foreign Entity (B)				Foreign Entity (C)

		>50% voting interest



≥		FAFP
≥		Foreign Entity (D)
		Foreign Entity (D)
	10%
voting			≤50% voting interest
interest

Foreign Entity (E)

Foreign

United States

The U.S. Afﬂiate

Identifying the Ultimate Beneﬁcial Owner

The ultimate beneﬁcial owner (UBO) is the entity, proceeding up the ownership chain beginning with and including the foreign parent, in which no other entity has more than 50 percent direct voting interest. If the UBO is the FP or an FAFP, then it is included in the AFG. In the diagram above, Foreign Entity (A) is the UBO of the U.S. afﬁliate.

NOTE that if the UBO is a U.S. entity it is not part of the AFG.

Page 4

FORM BE-605 (Rev. 02/2018)

Part II – Report changes in FP and UBO information

307

Does more than one foreign parent (FP) have a direct or indirect voting interest of 10 percent or more in this U.S. afﬁliate?

1 1 ■ Yes – File a separate BE-605 report for each foreign parent that has a direct or indirect voting interest of 10 percent or more in this U.S. afﬁliate.

1 2 ■ No

11Has the foreign parent information changed or is this an initial ﬁling?

3081 1 ■ Yes – Please note the changes or initial information below, and provide an organizational chart. 1 2 ■ No – Continue to 12 .

A. FP Name

Revised

B.Country of Incorporation? If the foreign parent is an individual or government, enter the country of residence.

Revised

BEA USE ONLY

005 1

12Is the foreign parent named in 11 also the ultimate beneﬁcial owner (UBO)?

3121 1 ■ Yes – SKIP to 14 .

1 2 ■ No

13Has the UBO information changed or is this an initial ﬁling?

3141 1 ■ Yes – Please provide the changes or initial information for the UBO of the foreign parent named in 11 . 1 2 ■ No – Continue to 14 .

A. UBO Name

Revised

B.Country of Incorporation? If the UBO is an individual or government, enter the country of residence.

Revised

BEA USE ONLY

315 1

Complete the remainder of this form with the transactions between this U.S. afﬁliate and the foreign parent identiﬁed in 11 .

FORM BE-605 (Rev. 02/2018)

Page 5

Part III – Foreign Parent’s Direct Equity Share in the U.S. Afﬁliate, as Consolidated

Instructions

14A. Report the amount that represents the foreign parent’s share, based on its directly held equity interest, in the U.S. afﬁliate’s net income (loss) for the quarter, before provision for all common and preferred dividends owed to foreign parent(s) and before any deduction for U.S withholding taxes on dividends, but AFTER provision for U.S. federal, state, and local income taxes.

•U.S. afﬁliates in extractive industries should report net income BEFORE depletion charges, EXCEPT charges representing the amortization of the actual cost of capital assets.

Please read the following instructions carefully as they are keyed to economic accounting concepts and in some cases may deviate from what is normally required by U.S. Generally Accepted Accounting Principles.

B1. Report those gains (losses) that were included in the foreign parent’s share of net income (item A) resulting from:

•Extraordinary, unusual, or infrequently occurring items that are material. Include losses from accidental damage or disasters, after estimated insurance reimbursement; write-ups, write-downs, and write-offs of tangible and intangible assets; and gains (losses) from the sale or other disposition of capital assets. Do not include legal judgments.

•Sale or other dispositions of ﬁnancial assets, including investment securities; gains (losses) related to fair value accounting; FASB ASC 320 (formerly FAS 115) holding gains (losses) on securities classiﬁed as trading securities; FASB ASC 320 impairment losses; and gains (losses) from derivative instruments. Dealers in ﬁnancial instruments and ﬁnance and insurance companies, see special instructions below.

•Restructuring costs that reﬂect write-downs or write-offs of assets or liabilities. Do not include actual payments, or charges to establish reserves for future actual payments, such as for severance pay, and fees to accountants, lawyers, consultants, or other contractors.

•Sale or disposition of land, other property, plant and equipment, or other assets, and FASB ASC 360 (formerly FAS 144) impairment losses. Do not include gains (losses) from the sale of inventory assets in the ordinary course of trade or business. Real estate companies, see special instructions below.

•Goodwill impairment as deﬁned by FASB ASC 350 (formerly FAS 142).

•Disposals of discontinued operations. Do not include income from the operations of a discontinued segment.

•Remeasurement of the U.S. afﬁliate’s foreign-currency-denominated assets and liabilities due to changes in foreign exchange rates during the reporting period.

•The cumulative effect of a change in accounting principle.

•The cumulative effect of a change in the estimate of stock compensation forfeitures under FASB ASC 718 (formerly FAS 123(R)).

B2. Include, per FASB ASC 220 (formerly FAS 130), unrealized holding gains (losses) for available-for-sale securities (including those classiﬁed as current assets), less reclassiﬁcation adjustments, and pension and postretirement beneﬁt plans after provision for U.S. federal, state, and local income taxes. Do not include foreign currency translation adjustment; report translation adjustment in 14 C.

Special instructions for dealers in ﬁnancial instruments (including securities, currencies, derivatives, and other ﬁnancial instruments), ﬁnance companies, and insurance companies:

Include in item B1:

•realized gains (losses) on trading or dealing;

•unrealized gains (losses) due to changes in the valuation of ﬁnancial instruments that ﬂow through the income statement;

•all other items described in the general instructions for 14 B1 (above).

Include in item B2 unrealized gains (losses) due to changes in the valuation of ﬁnancial instruments that are taken to other comprehensive income, and all other items described in the general instructions for 14 B2 (above).

Do not include income from fees and commissions in 14 B1 or 14 B2; report fees and commissions in 14 A.

Special instructions for real estate companies – Report gains (losses) from the sale, disposition, or revaluation of land, other property plant and equipment, or other assets as follows:

•Include gains (losses) from the sale of real estate in the ordinary course of trade or business in 14 A. Do not include realized gains (losses) in 14 B1 or 14 B2. Unrealized gains recognized due to the revaluation of real estate assets should also be reported in 14 B1.

•Include impairment losses of long-lived assets, as deﬁned by FASB ASC 360 (formerly FAS 144), and recognized during the period, in 14 A and 14 B1.

•All other items should be treated as described in the general instructions above.

Page 6

FORM BE-605 (Rev. 02/2018)

Part III – Foreign Parent’s Direct Equity Share in the U.S. Afﬁliate, as Consolidated

Instructions (continued)

C.Report foreign parent’s share of the foreign currency translation adjustment resulting from the translation of the U.S. afﬁliate’s ﬁnancial statements from the afﬁliate’s functional currency into U.S. dollars in accordance with FASB ASC 830 (formerly FAS 52) or other current standards of the Financial Accounting Standards Board.

D.Report dividends as of the date they were declared or paid, GROSS of any U.S. tax withheld. Any subsequent settlement of dividends declared but not paid SHOULD NOT be reported a second time, but

should be reﬂected only as a reduction in Part IV 19 A.

E.Report gross amounts of earnings distributed by unincorporated U.S. afﬁliates, whether out of current or past earnings.

•Report items 14 A–G on a quarterly basis, NOT on a cumulative or year-to-date basis.

•Use the column headed Preceding Quarter (if revised) to correct data that were incorrect or not given in the preceding quarter.

•DO NOT delay ﬁling because current quarter data are not available. Use estimates where necessary to ﬁle a timely report and submit revised data when available.

•DO NOT complete this section if the foreign parent only holds an INDIRECT equity interest in this U.S. afﬁliate or if the foreign parent only has a voting interest and NO equity interest. Amounts representing this U.S. afﬁliate’s equity accounts are part of another higher-tier U.S. afﬁliate’s consolidated report.

14What is the foreign parent’s equity share of:

A. The U.S. afﬁliate’s quarterly net income (loss), after

		011
provision for income taxes?
B. Certain gains (losses), after provision for
income taxes:
		012
1. Included in net income in	14 A?
2. Not included in net income in 14 A but taken to
		013
other comprehensive income?
C. The CHANGE in the translation adjustment account
		313
during the quarter?
D. Dividends on common and preferred stock (gross of U.S.
withholding taxes) excluding stock and liquidating
dividends? Report liquidating dividends in Part V 25 .....C 014

				Preceding Quarter
	Current Quarter				(if revised)
$ Bil.	Mil.	Thou.	Dols.	$ Bil.	Mil.	Thou.	Dols.

1				2
			000				000


1				2
			000				000


1				2
			000				000


1				2
			000				000


1				2
			000				000

	015
E. Earnings distributed by unincorporated U.S. afﬁliates?	.............

F.U.S. tax withheld on dividends ( 14 D) or on distributed earnings of unincorporated U.S. afﬁliate

(		E)?					016
	14						016
	14
G. The net amount of dividends/earnings distributed							017
(	14	D or	14	E less	14	F)?

000

1		2
	000		000

000

001

BEA USE ONLY

FORM BE-605 (Rev. 02/2018)

Page 7

Part IV – Payable and Receivable Balances, and Interest, Between Afﬁliated Foreign Group and U.S. Afﬁliate, as Consolidated

Questions 15 through 18 are intended to assist banks and other types of ﬁnance companies in determining how to complete the rest of Part IV . U.S. afﬁliates that also ﬁle Treasury International Capital (TIC) B Forms may not be required to complete 19 through 22 .

15Is the foreign parent listed in 11 a depository or non-depository bank (ISI codes 5221 or 5229),

a securities broker or dealer (ISI codes 5231) or in the ﬁnance industry (ISI codes 5223, 5224, 5238, 5252)?

0221 Yes

2 No – SKIP to 19 .

16Is the U.S. afﬁliate a “bank” (ISI codes 5221 or 5229) or primarily acting as a securities broker or dealer (ISI codes 5231)?

Note: A “bank” is a business engaged in deposit banking or closely related functions, including commercial banks, Edge Act corporations, U.S. branches and agencies of foreign banks, savings and loans, savings banks, bank holding companies and ﬁnancial holding companies under the Gramm–Leach–Bliley Act.

0211 Yes

2 No – SKIP to 18 .

17Do any of the U.S. business enterprises consolidated in this report have insurance (ISI codes 5242, 5243, or 5249), real estate (ISI code 5310), or leasing activities (ISI codes 5321, 5329, or 5331)?

023 1 Yes – Complete 19 thru 22 but ONLY report balances and interest between this U.S. afﬁliate and the afﬁliated foreign group that relate to insurance, real estate, and leasing activities.

2 No – SKIP to Part V .

18Do any of the U.S. business enterprises consolidated in this report have depository or non-depository banking activities (ISI codes 5221 or 5229) or securities broker or dealer activities (ISI codes 5231)?

020 1 Yes – Complete 19 thru 22 but ONLY report balances and interest between this U.S. afﬂiliate and the afﬁliated foreign group NOT related to depository or non-depository banking activities or securities broker or dealer activities.

2 No – Continue to 19 .

Finance Industry Classiﬁcations

5221 Depository credit intermediation (Banking)

5223 Activities related to credit intermediation

5224 Nondepository credit intermediation

5229 Nondepository branches and agencies

5231 Securities and commodity contracts intermediation and brokerage

5238 Other ﬁnancial investment activities and exchanges

5252 Funds, trusts, and other ﬁnance vehicles

Insurance Industry Classiﬁcations

5242 Agencies, brokerages, and other insurance related activities

5243 Insurance carriers, except life insurance carriers

5249 Life insurance carriers

Real Estate and Rental and Leasing Industry Classiﬁcations

5310 Real estate

5321 Automotive equipment rental and leasing

5329 Other rental and leasing activities

5331 Lessors of nonﬁnancial intangible assets, except copyrighted works

Page 8

FORM BE-605 (Rev. 02/2018)

Part IV – Payable and Receivable Balances, and Interest, Between Afﬁliated Foreign Group and U.S. Afﬁliate, as Consolidated

Report all current and long-term intercompany accounts and interest between the U.S. afﬁliate and the afﬁliated foreign group.

The current quarter’s opening balance should be equal to the previous quarter’s closing balance. If the closing balance on the preceding quarter’s report was in error, note the correction.

•Derivatives Contracts – Exclude the value of outstanding financial derivatives contracts฀and any payments or receipts resulting from the settlement of those contracts. For example,฀the settlements of interest rate derivatives should NOT be reported as interest or as another฀type of transaction on this form. Derivatives contracts are covered by the Treasury International฀ Capital (TIC) Form D, Report of Holdings of, and Transactions in, Financial Derivatives฀ Contracts.

•Leases – If leases between the U.S. affiliate and the affiliated foreign group are capitalized,฀

then the outstanding capitalized value should be reported as an intercompany balance. Lease payments should be disaggregated into the amounts that are (i) a reduction in an฀ intercompany balance, and (ii) interest.

•Insurance Technical Reserves – Include these provisions (prepaid premiums, claims฀ payable, etc.) when with related parties.

•DO NOT net payables and receivables.

•DO NOT net interest expense against interest income.

•Report quarterly gross interest expense and income (not year to date).

•Interest expense and interest income should be reported on the accrual basis.

Afﬁliated foreign group

FAFP

>50%>50%

Foreign Parent		FAFP

>50%

FAFP

Foreign

United States This U.S. afﬁliate

see page 4 for diagram description

Please see the diagrams above and on page 4 to identify the Foreign Parent and the Foreign Afﬁliates of the Foreign Parent (FAFP). Report payable and receivable balances as well as the current quarter interest expense and interest income, separately for each. Note: Country detail will be required for FAFP transactions in 21 and 22 .

19What were the total short- and long-term payable balances owed by the U.S. afﬁliate to the afﬁliated foreign group, and the related interest expense?

	TOTAL short- and long-term payables		Interest expense
Payable/expensed to:	Beginning of quarter	End of quarter	Current quarter
$	Bil. Mil. Thou. Dols. $ Bil.	Mil. Thou.	Dols. $ Bil. Mil. Thou. Dols.

A.Foreign parent

B.Foreign afﬁliates of the foreign parent (FAFP)

C.TOTAL for afﬁliated foreign group

024.2

000

156.3

000

270.3

000

024.1

000

156.2

000

270.2

000

018.1

000

156.4

000

270.4

000

20What were the total short- and long-term receivable balances owed to the U.S. afﬁliate by the afﬁliated foreign group, and the related interest income?

Receivable/income from:

A.Foreign parent

B.Foreign afﬁliates of the foreign parent (FAFP)

TOTAL short- and long-term receivables			Interest income
Beginning of quarter	End of quarter		Current quarter
$ Bil. Mil. Thou. Dols.	$ Bil. Mil. Thou.	Dols.	$ Bil. Mil. Thou. Dols.
025.2	025.1		018.2
000		000	000

269.3	269.2		269.4
000		000	000

271.3	271.2		271.4

C. TOTAL for afﬁliated foreign group	000		000		000

				BEA USE ONLY
		001
		001		2

FORM BE-605 (Rev. 02/2018)

Page 9

Part IV – U.S. Afﬁliates’ Payables and Interest Expense to FAFPs

Short- and long-term payablesInterest expense

21	How are the amounts reported in						Beginning of quarter				End of quarter				Current quarter
		B allocated by country?
	19
	19
					$		Bil.	Mil.	Thou. Dols. $ Bil.		Mil.	Thou. Dols.		$ Bil.	Mil.	Thou. Dols.
				1	3				2					4
A. Australia			044		601					000			000				000
				1	3				2					4
B. Brazil			045		202					000			000				000
				1	3				2					4
C. Canada			046		100					000			000				000
				1	3				2					4
D. China			047		650					000			000				000
				1	3				2					4
E. France			048		307					000			000				000
				1	3				2					4
F. Germany			049		308					000			000				000
				1	3				2					4
G. Japan			050		614					000			000				000
				1	3				2					4
H. Mexico			051		213					000			000				000
				1	3				2					4
I. Netherlands			052		319					000			000				000
				1	3				2					4
J. Singapore			053		625					000			000				000
				1	3				2					4
K. Switzerland			054		325					000			000				000
				1	3				2					4
L. United Kingdom			055		327					000			000				000
	Other countries - Specify			1	3				2					4
M.			056						000			000				000

N.				1		3			2					4


			057							000			000				000
			057							000			000				000
O.				1		3			2					4


			058							000			000				000
			058							000			000				000
P.				1		3			2					4


			059						000			000				000
			059						000			000				000

Q.				1		3			2					4


			060							000			000				000
			060							000			000				000
R.				1		3			2					4
						3			2					4
			061						000			000				000



				1		3			2					4
						3			2					4
S.			062							000			000				000


T.				1		3			2					4
						3			2					4
			063						000			000				000



U.				1		3			2					4
			064	1					000			000				000
			064						000			000				000

V.				1		3			2					4


			065						000			000				000
			065						000			000				000

W.				1		3			2					4


			066							000			000				000
			066							000			000				000
X.				1		3			2					4


			067						000			000				000
			067						000			000				000

Y.				1		3			2					4


			068							000			000				000
			068							000			000				000
				1	3				2					4
Z. Unallocated*			155		709				000			000				000

Use extra copies as needed. 7RWD V(this page only):

*Unallocated – Combine values for countries which individually amount to less than $500 thousand.

Notes

Page 10

FORM BE-605 (Rev. 02/2018)

Part IV – U.S. Afﬁliates’ Receivables and Interest Income from FAFPs

Short- and long-term receivablesInterest income

22	How are the amounts reported in		Beginning of quarter			End of quarter		Current quarter
		B allocated by country?
	20
	20
	$		Bil.	Mil.	Thou. Dols. $ Bil.	Mil.	Thou. Dols. $ Bil.	Mil.	Thou. Dols.

			1
A. Australia		157	601
			1
B. Brazil		158	202
			1
C. Canada		159	100
			1
D. China		160	650
			1
E. France		161	307
			1
F. Germany		162	308
			1
G. Japan		163	614
			1
H. Mexico		164	213
			1
I. Netherlands		165	319
			1
J. Singapore		166	625
			1
K. Switzerland		167	325
			1
L. United Kingdom		168	327
	Other countries - Specify		1
M.		169
N.		170	1
			1

O.		171	1
			1

			1
			1
P.		172	1
P.		172
Q.		173


R.		174	1
			1

S.		175	1
			1
			1



T.		176	1
T.		176
U.		177


			1
			1
V.		178	1
V.		178
W.		179


X.		180	1
			1

Y.		181	1
			1

			1
Z. Unallocated*		268	709

3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000
3	2	4
000	000	000

Use extra copies as needed. Totals (this page only):

*Unallocated – Combine values for countries which individually amount to less than $500 thousand.

Notes

FORM BE-605 (Rev. 02/2018)

Page 11

Part V – Quarterly Change in the Foreign Parent’s Share of the U.S. Afﬁliate’s Capital Account (if Incorporated) or Equity (if Unincorporated)

23During the quarter indicated in 2 , was there a change in the foreign parent’s share of the U.S. afﬁliate’s capital account (if incorporated) or equity (if unincorporated)?

0431 1 Yes

1 2 No – SKIP to Part VI , 28 .

Report in 24 or 25 the transaction value (i.e., market value) of consideration given or received.

Unincorporated U.S. afﬁliates must report the foreign parent’s share of any increase (decrease) in the U.S. afﬁliate’s equity (or home ofﬁce account), arising from its transactions with the foreign parent, excluding amounts reported in Part III or Part IV .

Include in 24 and 25 changes caused by:

•Treasury stock transactions with the foreign parent and liquidating dividends;

•Capitalization of intercompany debt (report the amount of debt converted to equity as the transaction value of the equity increase in 24 C), and adjust the debt balance as appropriate in Part IV , 19 A;

•Purchase or sale of capital stock by the foreign parent from or to the U.S. afﬁliate;

•Change in capital of the U.S. afﬁliate owned by the foreign parent that did not result from a change of stock issued.

Exclude from 24 and 25 changes caused by:

•Carrying net income (loss) to the equity account (i.e., retained earnings);

• Dividends/earnings distributed and stock dividends. Report in Part III , 14 D or 14 E;

•Balance sheet translation adjustments. Report in Part III , 14 C;

•The effect of treasury stock transactions with persons other than the foreign parent;

•Reorganizations in capital structure that do not affect total equity;

•Investments that are written off. Report in Part III .

Current Quarter

24What is the increase in the foreign parent’s equity interest in the U.S. afﬁliate due to:

A. Establishment of the U.S. afﬁliate or acquisition (partial or total) of an equity
	029
interest in this U.S. afﬁliate by the foreign parent from other foreign persons?
B. Acquisition (partial or total) of an equity interest in this U.S. afﬁliate by the foreign
	028
parent from other U.S. persons?
C. Capital contributions and other transactions by the foreign parent to the U.S.
	026
afﬁliate?

$ Bil. Mil. Thou. Dols.

000

25What is the decrease in the foreign parent’s equity interest in the U.S. afﬁliate due to:

A. Liquidation or sale (partial or total) of an equity interest in this U.S. afﬁliate by the
	031
foreign parent to other foreign persons?
B. Sale (partial or total) of an equity interest in this U.S. afﬁliate by the foreign parent
	030
to other U.S. persons?

000

																							1
																		027								000
	C. Return of capital and other transactions from the U.S. afﬁliate to the foreign parent?																									000

	What is the total change in the foreign parent’s equity interest in the U.S. afﬁliate																						1
26																							1
26
																			032								000
	from the prior quarter? Sum of (					24	A +	24	B +	24	C) minus (	25		A +		25	B +	25	C)								000
			and		, what are the amounts (e.g., good																	For liquidation or sale
27	For items	24	and	25	, what are the amounts (e.g., good											For acquisition				24		For liquidation or sale						25
	will) by which the transaction value:												$			Bil.		Mil. Thou. Dols.					$ Bil.	Mil. Thou. Dols.
													$			Bil.		Mil. Thou. Dols.					$ Bil.	Mil. Thou. Dols.
															2								4
A. Exceeds the value carried on the books of the U.S. afﬁliate?													903								000				000

															3								5
B. Is less than the value carried on the books of the U.S. afﬁliate?													903								000				000

Page 12

FORM BE-605 (Rev. 02/2018)

Part VI – Selected Annual Information

COMPLETE THIS SECTION ONCE A YEAR, NO LATER THAN THE SECOND FILING following the close of the ﬁnancial reporting year. For example, if the U.S. afﬁliate’s books annually close on September 30th, this section must be completed for the report due within 30 days after the close of the ﬁrst calendar quarter (that is, by April 30th).

• If this is an initial report, complete as of the ending date of the quarter indicated in	2	.	Month Day Year

			1

28What is the U.S. affiliate’s fiscal year (or, if initial report, quarter) ending date?...............034

	1
29 What is the percentage of the foreign parent’s direct equity ownership
	035
interest in the U.S. afﬁliate? Enter to a tenth of one percent
Foreign Parent’s Share of the U.S. Afﬁliate’s Annual Net Income (Loss)
	$ Bil.
30 What is the foreign parent’s direct equity in the consolidated
	1
U.S. afﬁliate’s annual net income (loss) after provision for
	036
U.S. federal, state, and local income taxes?

31What is the foreign parent’s share of certain gains (losses) including unusual and nonrecurring items, net of taxes:

										1
	A. Included in net income in item					(refer to instruction for		B1 on page 6)?	037
				30			14		037
				30			14
	B. NOT included in net income in					, but taken to other comprehensive income				1
					30					1
					30
	(refer to instruction for		B2 on page 6)?						038
		14							038
		14
	What is the foreign parent’s share of the CHANGE in the translation adjustment									1
32										1
32
	.account during the year?								338

Foreign Parent’s Share of the U.S. Afﬁliate’s Owner’s Equity at Year End

33As of the date shown in item 28 above, what is the foreign parent’s direct share

of the consolidated U.S. afﬁliate’s:		$ Bil.
		1
		042
A. Total equity? Equals the sum of 33 B + 33 C +	33 D, if incorporated.	.............................

B B B B %

Mil. Thou. Dols.

000

Mil. Thou. Dols.

000

		1
B. Capital stock, preferred stock, and additional paid-in capital, if incorporated?	039		000
	.....................		000

	1
	040
C. Retained earnings (deﬁcit), if incorporated?
D. All other components including translation adjustment, other comprehensive	1
	041
income (loss) and noncontrolling minority interest?

000

Notes

001

BEA USE ONLY

FORM BE-605 (Rev. 02/2018)

Page 13

Part฀VII฀–฀Claim฀for฀Exemption฀฀

34฀ The฀U.S.฀affiliate,฀as฀consolidated,฀is฀exempt฀from฀filing฀a฀BE-605฀report฀if฀ANY฀ONE฀of฀the฀conditions฀specified฀

A01฀ in฀statements฀A–E฀below฀applies.฀Check฀the฀statement฀that฀applies฀and฀complete฀ALL฀adjacent฀answer฀boxes.฀฀

1฀฀A. This฀U.S.฀affiliate฀is฀exempt฀because฀ALL฀of฀the฀items฀below฀(not฀just฀the฀foreign฀parent's฀share)฀were฀less฀than฀or฀ equal฀to฀$60฀million฀(positive฀or฀negative)฀during฀the฀affiliate’s฀last฀four฀fiscal฀quarters.฀฀If฀12฀months฀of฀data฀are฀not฀ available,฀give฀full-year฀projections.

$฀฀฀฀Bil.฀฀฀฀฀Mil.฀฀฀฀฀Thou.฀฀฀฀Dols.฀฀

Total฀assets฀–฀DO฀NOT฀net฀against฀liabilities฀

A11฀฀

000฀

12-month

Sales฀or฀gross฀operating฀revenues,฀excluding฀sales฀taxes

A12

000฀

period฀ended฀

A14 mm/dd/yyyy

2฀B.

Net฀income฀(loss)฀after฀provision฀for฀U.S.฀federal,฀state,฀and฀local฀income฀taxes฀A13฀฀฀

000฀฀

This฀U.S.฀affiliate฀was฀consolidated,฀merged฀into,฀or฀reorganized฀into฀the฀BE-605฀report฀for฀another฀U.S.฀affiliate.

Company฀name฀and฀address:

A20

Date฀of฀change฀

BEA฀ID฀number฀of฀above฀named฀U.S.฀affiliate฀(or฀contact฀person฀name฀and฀telephone฀number):

A22 mm/dd/yyyy

A21

3฀C. This฀U.S.฀affiliate฀is฀indirectly฀foreign฀owned฀through฀another฀U.S.฀affiliate฀AND฀has฀no฀฀Part฀IV฀฀transactions฀with฀the฀ foreign฀parent(s)฀or฀any฀of฀its฀(their)฀foreign฀affiliates.

4฀D. The฀foreign฀parent’s฀voting฀interest฀in฀this฀U.S.฀business฀enterprise฀was฀(check฀ANY฀ONE฀that฀applies฀and฀provide฀date):฀

A02

11฀ . Sold฀to฀a฀U.S.฀entity฀that฀does฀not฀have฀foreign฀ownership฀of฀10฀percent฀or฀more.

Acquiring฀company฀name:

A33

							Date
			$฀฀฀฀Bil.฀฀฀฀฀Mil.฀฀฀฀฀Thou.฀฀฀฀Dols.฀฀				mm/dd/yyyy
			$฀฀฀฀Bil.฀฀฀฀฀Mil.฀฀฀฀฀Thou.฀฀฀฀Dols.฀฀			A31฀฀
	Approximate฀sale฀value	A32		000฀		A31฀฀
		A32		000฀

2 2.	Liquidated/dissolved.						Date
2 2.	Liquidated/dissolved.		$฀฀฀฀Bil.฀฀฀฀฀Mil.฀฀฀฀฀Thou.฀฀฀฀Dols.฀฀				mm/dd/yyyy
	Amount฀returned฀to฀the฀foreign฀parent	A35		000฀	A34
					A34


3 3.
	Diluted.฀The฀foreign฀parent’s฀total฀voting฀interest฀in฀this฀U.S.฀afﬁliate฀is฀						Date


	below฀the฀10฀percent฀threshold฀required฀to฀ﬁle.
	below฀the฀10฀percent฀threshold฀required฀to฀ﬁle.				A38 mm/dd/yyyy
	New฀percentage฀of฀ownership฀for฀foreign฀parent		A39	%

5฀E. This฀U.S.฀business฀enterprise฀was฀identified฀by฀BEA฀as฀required฀to฀file฀a฀BE-605฀survey฀form฀and฀ALL฀of฀the฀following฀3฀ statements฀apply:฀1)฀The฀U.S.฀business฀enterprise฀is฀a฀private฀fund,฀2)฀the฀private฀fund฀does฀not฀own,฀directly฀or฀indirectly฀ through฀another฀business฀enterprise,฀an฀“operating฀company”—i.e.,฀a฀business฀enterprise฀that฀is฀not฀a฀private฀fund฀or฀a฀ holding฀company—in฀which฀the฀foreign฀parent฀owns฀at฀least฀10฀percent฀of฀the฀voting฀interest,฀AND฀3)฀if฀the฀foreign฀parent฀ owns฀the฀private฀fund฀indirectly฀(through฀one฀or฀more฀other฀U.S.฀business฀enterprises),฀there฀are฀no฀U.S.฀“operating฀ companies”฀between฀the฀foreign฀parent฀and฀the฀indirectly-owned฀U.S.฀private฀fund.

The฀foreign฀investment฀in฀the฀U.S.฀private฀fund฀may฀be฀required฀to฀be฀reported฀on฀Treasury฀International฀Capital฀(TIC)฀ Surveys,฀review฀reporting฀requirements฀for฀TIC฀surveys฀at฀www.treasury.gov/tic.

For฀more฀information฀regarding฀private฀funds฀visit฀www.bea.gov/privatefunds.

Page฀14฀

FORM฀BE-605฀(Rev.฀02/2018)฀฀

Survey Information

Purpose฀–฀Reports฀on฀this฀form฀are฀required฀to฀provide฀reliable฀and฀up-to-date฀information฀on฀foreign฀direct฀investment฀฀in฀ the฀United฀States฀for฀inclusion฀in฀the฀U.S.฀international฀transactions฀accounts฀and฀the฀national฀income฀and฀product฀฀ accounts.฀

Authority฀–฀This฀survey฀is฀being฀conducted฀under฀the฀International฀Investment฀and฀Trade฀in฀Services฀Survey฀Act฀ (P.L.฀94-472,฀90฀Stat.฀2059,฀22฀U.S.C.฀3101-3108,฀as฀amended),฀and฀the฀filing฀of฀reports฀is฀MANDATORY฀pursuant฀to฀ Section฀5(b)(2)฀of฀the฀Act฀(22฀U.S.C.฀3104).฀All฀persons฀contacted฀by฀BEA฀in฀writing฀must฀respond฀pursuant฀to฀section฀ 801.3฀of฀15฀C.F.R.฀pt.฀801฀and฀the฀survey฀instructions.฀

Confidentiality฀–฀The฀Act฀provides฀that฀your฀report฀to฀this฀Bureau฀is฀CONFIDENTIAL฀and฀may฀be฀used฀only฀for฀analytical฀ or฀statistical฀purposes.฀Without฀your฀prior฀written฀permission,฀the฀information฀filed฀in฀your฀report฀CANNOT฀be฀presented฀in฀ a฀manner฀that฀allows฀it฀to฀be฀individually฀identified.฀Your฀report฀CANNOT฀be฀used฀for฀purposes฀of฀taxation,฀investigation,฀or฀ regulation.฀Copies฀retained฀in฀your฀files฀are฀immune฀from฀legal฀process.฀Per฀the฀Cybersecurity฀Enhancement฀Act฀of฀2015,฀ your฀data฀are฀protected฀from฀cybersecurity฀risks฀through฀security฀monitoring฀of฀the฀BEA฀information฀systems.฀

Penalties฀–฀Whoever฀fails฀to฀report฀may฀be฀subject฀to฀a฀civil฀penalty฀not฀less฀than฀$4,454,฀and฀not฀more฀than฀$44,539,฀and฀ to฀injunctive฀relief฀commanding฀such฀person฀to฀comply,฀or฀both.฀Whoever฀willfully฀fails฀to฀report฀shall฀be฀fined฀not฀more฀ than฀$10,000฀and,฀if฀an฀individual,฀may฀be฀imprisoned฀for฀not฀more฀than฀one฀year,฀or฀both.฀Any฀officer,฀director,฀employee,฀ or฀agent฀of฀any฀corporation฀who฀knowingly฀participates฀in฀such฀violation,฀upon฀conviction,฀may฀be฀punished฀by฀a฀like฀fine,฀ imprisonment,฀or฀both.฀(22฀U.S.C.฀3105).฀The฀civil฀penalties฀are฀subject฀to฀inflationary฀adjustments.฀Those฀adjustments฀are฀ found฀in฀15฀CFR฀6.4.฀

Notwithstanding฀any฀other฀provision฀of฀the฀law,฀no฀person฀is฀required฀to฀respond฀to,฀nor฀shall฀any฀person฀be฀subject฀to฀a฀ penalty฀for฀failure฀to฀comply฀with,฀a฀collection฀of฀information฀subject฀to฀the฀requirements฀of฀the฀Paperwork฀Reduction฀Act,฀ unless฀that฀collection฀of฀information฀displays฀a฀currently฀valid฀OMB฀Control฀Number.฀

Respondent฀Burden฀–฀Public฀reporting฀burden฀for฀this฀collection฀of฀information฀is฀estimated฀to฀average฀1฀hour฀per฀฀ response,฀including฀the฀time฀for฀reviewing฀instructions,฀searching฀existing฀data฀sources,฀gathering฀and฀maintaining฀the฀data฀ needed,฀and฀completing฀and฀reviewing฀the฀collection฀of฀information.฀Send฀comments฀regarding฀this฀burden฀estimate฀or฀any฀ other฀aspect฀of฀this฀collection฀of฀information,฀including฀suggestions฀for฀reducing฀this฀burden,฀to:฀

Director,฀Bureau฀of฀Economic฀Analysis฀(BE-1),฀U.S.฀Department฀of฀Commerce,฀4600฀Silver฀Hill฀Rd,฀Washington,฀DC฀ 20233;฀and฀to฀the฀Office฀of฀Management฀and฀Budget,฀Paperwork฀Reduction฀Project฀0608-0009,฀Washington,฀DC฀20503.฀

Retention฀of฀copies:฀Retain฀a฀copy฀of฀filed฀reports฀for฀3฀years฀beyond฀the฀report’s฀original฀due฀date.

CONTACT INFORMATION

Provide information of person to consult about this report:

801Name

806Street 1

807Street 2

808City

Telephone Number

Extension

802_0 ( — — —) — — — - — — — —

		Fax Number
State	Zip	803_0 ( — — —) — — — - — — — —
		803_0 ( — — —) — — — - — — — —
		E-MAIL ADDRESS
		810_0

NOTE: BEA uses a Secure Messaging System to correspond with you via encrypted message to discuss questions relating to this form. We may use your e-mail address for survey-related announcements and to inform you about secure messages. When communicating with BEA by e-mail, please do not include any conﬁdential business or personal information.

CERTIFICATION

The undersigned ofﬁcial certiﬁes that this report has been prepared in accordance with the applicable instructions, is complete, and is substantially accurate including estimates that may have been provided.

Signature of Authorized Ofﬁcial	Date	Telephone Number	Extension
		804_0 ( — — —) — — — - — — — —
809 Name	Title	Fax Number
0		805_0 ( — — —) — — — - — — — —
		805_0 ( — — —) — — — - — — — —

FORM BE-605 (Rev. 02/2018)

Page 15

Deﬁnitions

Affiliate฀means฀a฀business฀enterprise฀located฀in฀one฀country฀that฀is฀directly฀or฀indirectly฀owned฀or฀฀฀

controlled฀by฀an฀entity฀of฀another฀country฀to฀the฀extent฀of฀10฀percent฀or฀more฀of฀its฀voting฀stock฀for฀an฀฀incorporated฀ business฀or฀an฀equivalent฀interest฀for฀an฀unincorporated฀business,฀including฀a฀branch.฀

Affiliated฀foreign฀group฀means฀(i)฀the฀foreign฀parent,฀(ii)฀any฀foreign฀entity,฀proceeding฀up฀the฀foreign฀parent’s฀ownership฀ chain,฀that฀owns฀more฀than฀50฀percent฀of฀the฀entity฀below฀it฀up฀to฀and฀including฀that฀entity฀which฀is฀not฀owned฀more฀than฀ 50฀percent฀by฀another฀foreign฀entity,฀and฀(iii)฀any฀foreign฀entity,฀proceeding฀down฀the฀ownership฀chain(s)฀of฀each฀of฀these฀ members,฀which฀is฀owned฀more฀than฀50฀percent฀by฀the฀entity฀above฀it.฀

Banking฀covers฀business฀enterprises฀engaged฀in฀deposit฀banking฀or฀closely฀related฀functions,฀including฀฀commercial฀ banks,฀Edge฀Act฀corporations฀engaged฀in฀international฀or฀foreign฀banking,฀foreign฀branches฀and฀agencies฀of฀U.S.฀banks฀ whether฀or฀not฀they฀accept฀deposits฀abroad,฀U.S.฀branches฀and฀agencies฀of฀foreign฀banks฀whether฀or฀not฀they฀accept฀ domestic฀deposits,฀savings฀and฀loans,฀savings฀banks,฀bank฀holding฀฀companies,฀and฀financial฀holding฀companies฀under฀ the฀Gramm–Leach–Bliley฀Act.฀(U.S.฀branches฀of฀foreign฀banks฀are฀U.S.฀entities;฀conversely,฀foreign฀branches฀of฀U.S.฀ banks฀are฀foreign฀entities.)฀

Branch฀means฀the฀operations฀or฀activities฀conducted฀by฀an฀entity฀in฀a฀different฀location฀in฀its฀own฀name฀rather฀than฀ through฀an฀incorporated฀entity.฀

Business฀enterprise฀means฀any฀organization,฀association,฀branch,฀or฀venture฀that฀exists฀for฀profit฀making฀purposes฀or฀to฀ otherwise฀secure฀economic฀advantage,฀and฀any฀ownership฀of฀any฀real฀estate.฀

Direct฀investment฀means฀the฀ownership฀or฀control,฀directly฀or฀indirectly,฀by฀one฀investor฀of฀10฀percent฀or฀more฀of฀the฀ voting฀securities฀of฀an฀incorporated฀business฀enterprise฀or฀an฀equivalent฀interest฀in฀an฀unincorporated฀business฀ enterprise.฀

Entity฀(as฀used฀here,฀“entity”฀is฀synonymous฀with฀“person,”฀as฀that฀term฀is฀used฀in฀the฀broad฀legal฀sense)฀means฀any฀ individual,฀branch,฀partnership,฀associated฀group,฀association,฀estate,฀trust,฀corporation,฀or฀other฀organization฀(whether฀or฀ not฀organized฀under฀the฀laws฀of฀any฀state),฀and฀any฀government฀(including฀a฀foreign฀government,฀the฀United฀States฀ Government,฀a฀state฀or฀local฀government,฀and฀any฀agency,฀corporation,฀financial฀institution,฀or฀other฀entity฀or฀ instrumentality฀thereof,฀including฀a฀government-sponsored฀agency).฀

Finance฀industry฀is฀comprised฀of฀businesses฀engaged฀in฀financial฀transactions฀(transactions฀involving฀the฀฀creation,฀ liquidation,฀or฀change฀in฀ownership฀of฀financial฀assets)฀and/or฀in฀facilitating฀financial฀transactions.฀฀Finance฀industry฀ activities฀include฀the฀raising฀of฀funds฀by฀taking฀deposits฀and/or฀issuing฀securities,฀and฀in฀the฀฀process,฀incurring฀liabilities,฀ and฀providing฀specialized฀services฀facilitating,฀or฀supporting,฀financial฀intermediation.฀

Foreign,฀when฀used฀in฀a฀geographic฀sense,฀means฀that฀which฀is฀situated฀outside฀the฀United฀States฀or฀which฀฀belongs฀to฀ or฀is฀characteristic฀of฀a฀country฀other฀than฀the฀United฀States.฀

Foreign฀affiliate฀of฀the฀foreign฀parent฀means,฀with฀reference฀to฀a฀given฀U.S.฀affiliate,฀any฀member฀of฀the฀affiliated฀ foreign฀group฀(see฀definition฀above)฀that฀is฀not฀a฀foreign฀parent฀of฀the฀affiliate.฀

Foreign฀direct฀investment฀in฀the฀United฀States฀means฀the฀ownership฀or฀control,฀directly฀or฀indirectly,฀by฀one฀foreign฀ investor฀of฀10฀percent฀or฀more฀of฀the฀voting฀securities฀of฀an฀incorporated฀U.S.฀business฀enterprise฀or฀an฀equivalent฀ interest฀in฀an฀unincorporated฀U.S.฀business฀enterprise,฀including฀a฀branch฀or฀partnership.฀

Foreign฀parent฀is฀the฀FIRST฀entity฀incorporated฀outside฀the฀United฀States,฀proceeding฀up฀a฀chain฀of฀owner-ship,฀that฀has฀ 10฀percent฀or฀more฀voting฀interest฀(direct฀or฀indirect)฀in฀this฀U.S.฀affiliate.฀

Partnerships฀are฀either฀classified฀as฀general฀or฀limited.฀The฀determination฀of฀percentage฀of฀voting฀interest฀for฀either฀is฀ based฀on฀who฀controls฀the฀partnership.฀A฀general฀partnership฀consists฀of฀at฀least฀two฀general฀partners฀who฀together฀ control฀the฀partnership;฀unless฀a฀clause฀to฀the฀contrary฀is฀contained฀in฀the฀partnership฀agreement,฀a฀general฀partnership฀is฀ presumed฀to฀be฀controlled฀equally฀by฀both฀partners.฀A฀limited฀partnership฀consists฀of฀ at฀least฀one฀general฀and฀one฀limited฀partner.฀The฀general฀partner฀usually฀controls฀a฀limited฀partnership,฀and฀therefore,฀has฀ 100฀percent฀voting฀interest฀in฀the฀partnership.฀Limited฀partners฀do฀not฀normally฀exercise฀any฀control,฀and฀unless฀a฀clause฀ to฀the฀contrary฀is฀contained฀in฀the฀partnership฀agreement,฀are฀presumed฀to฀have฀zero฀voting฀interest฀in฀the฀partnership.

Private฀fund฀refers฀to฀the฀same฀class฀of฀financial฀entities฀defined฀by฀the฀Securities฀and฀Exchange฀Commission฀as฀private฀ funds฀on฀Form฀PF:฀“any฀issuer฀that฀would฀be฀an฀investment฀company฀as฀defined฀in฀section฀3฀of฀the฀Investment฀Company฀ Act฀of฀1940฀but฀for฀section฀3(c)(1)฀or฀3(c)(7)฀of฀…฀[that]฀Act.”

Ultimate฀beneficial฀owner฀means฀the฀foreign฀entity฀proceeding฀up฀the฀ownership฀chain,฀beginning฀with฀and฀including฀the฀ foreign฀parent,฀that฀is฀not฀more฀than฀50฀percent฀owned฀by฀another฀entity.฀

United฀States,฀when฀used฀in฀a฀geographic฀sense,฀means฀the฀50฀states,฀the฀District฀of฀Columbia,฀the฀Commonwealth฀of฀ Puerto฀Rico,฀and฀all฀territories฀and฀possessions฀of฀the฀United฀States.฀

U.S.฀affiliate฀means฀a฀business฀enterprise฀located฀in฀the฀United฀States฀in฀which฀a฀foreign฀entity฀has฀a฀direct฀in-vestment.฀

Voting฀interest฀is฀the฀percent฀of฀ownership฀in฀the฀voting฀securities฀of฀an฀incorporated฀business฀enterprise฀or฀an฀ equivalent฀interest฀in฀an฀unincorporated฀business฀enterprise,฀including฀a฀branch฀or฀partnership.฀฀

Page 16

FORM BE-605 (Rev. 02/2018)

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be605 conclusion process outlined (part 2)

3. This step is generally hassle-free - fill in all of the form fields in Which type of business, A US business enterprise, If the US afﬁliates industry, See the Industry Code Guide on, Current, Industry Code, Revised, Has the ownership structure of, See page for guidance in, Yes Please provide a chart, What type of equity interest does, Only a direct equity interest, Only an indirect equity interest, Diagram, and ONLY complete and Part IV to complete this process.

be605 conclusion process clarified (portion 3)

4. Filling in Both a direct equity interest AND, This US Afﬁliate, through another US afﬁliate If, the SAME foreign parent this US, If a direct and an indirect, foreign parents this US afﬁliate, No equity interest only voting, ONLY complete Part IV through, Diagram, Highertier US Afﬁliate, Foreign Parent, This US Afﬁliate, Diagram, Foreign Parent A, and Foreign Parent B is key in this section - be certain to be patient and be attentive with every empty field!

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be605 writing process described (portion 5)

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