As we reported on August 12, 2015, financial services providers with more than $3 million of cross-border revenues during fiscal 2014 may be required to file a report with the U.S. Bureau of Economic Affairs (BEA) by October 1, 2015. The BEA has now published the report form, granted an automatic extension of the filing date and allowed for applications for additional extensions. Information is now on the BEA’s website at http://www.bea.gov/ssb/be180/
Form BE-180 Now Available
The Form and instructions are now available on the BEA’s website. The form in hard copy is eight pages long, with eight pages of instructions. It may be filed online or in hard copy.
Automatic Extension of Filing Deadline
BEA announced that even though it encourages filers to comply with the deadline of October 1, 2015, that is shown on the form, the following extensions are automatically granted:
- For all financial service providers that were notified of the survey by the BEA and have a BE-180 identification numberbelow 140012490, the deadline for filing the BE-180 is now November 1, 2015.
- For all financial service providers that were notified of the survey by the BEA and have a BE-180 identification numberabove 140012490, the deadline for filing the BE-180 is now December 1, 2015.
- The filing deadline for all other financial service providers is now November 1, 2015.
Additional Extension of Filing Deadline
If the automatic extensions described under 1 or 2 above apply, but are not sufficient, the financial service provider may contact BEA at (202) 606-5588 or firstname.lastname@example.org and may request an additional extension of 30 days. The BEA will consider such requests only if they are submitted by November 1, 2015.
All financial service providers who do not have a BE-180 identification number and are covered by the automatic extension described under number three above may request an additional extension of up to 60 additional days by following the instructions at www.bea.gov/ssb/be180 to set up a new efile user account and provide some basic information on the financial service provider in question. The information requested for the extension must be submitted to the BEA by November 1, 2015, and will enable the BEA to provide a BE-180 identification number to the financial service provider.