HIGHLIGHTS:

  • If a U.S. company provided services to a foreign person, or purchased services from a foreign person, during fiscal year 2017, it must complete the BE-120 survey on Transactions in Selected Services and Intellectual Property with Foreign Persons.
  • A number of companies received a request from the U.S. Bureau of Economic Analysis (BEA) to complete the survey in April 2018. Even if a company did not receive a request, the company is still required to complete the survey if it provided or purchased the enumerated services abroad during the reporting period.
  • It applies to services provided remotely. It also applies to grants or contracts received from nonmilitary U.S. government agencies for services provided abroad.
  • The extended deadline to file is Friday, Sept. 28, 2018. Penalties for not completing the survey range between $4,454 and $44,539.

The U.S. Bureau of Economic Analysis (BEA) conducts periodic surveys on various activities of U.S. companies abroad. It uses the data to compile statistical reports of the U.S. economy. If a U.S. company provided services to a foreign person, or purchased services from a foreign person, during fiscal year 2017, it must complete the BE-120 survey on Transactions in Selected Services and Intellectual Property with Foreign Persons. A number of companies received a request from BEA to complete the survey in April 2018, with an original due date of June 29, 2018. Even if a company did not receive a request, the company is still required to complete the survey if it provided or purchased the enumerated services abroad during the reporting period.

The extended deadline to file is Friday, Sept. 28, 2018. Penalties for not completing the survey range between $4,454 and $44,539.

The benchmark survey covers the universe of transactions in selected services and intellectual property and is BEA's most comprehensive survey of such transactions. It applies to services provided remotely, for example, through an online learning tool. It also applies to grants or contracts received from nonmilitary U.S. government agencies for services in recipient foreign countries, for example, through a grant or contract from the U.S. Agency for International Development (USAID). Details about the survey are included in the Federal Register notice of Feb. 2, 2018.

Covered types of services1 include the following.

  • Sales and purchases related to certain intellectual property rights: Rights related to the use of a patent, process or trade secret to produce and/or distribute a product or service; outright sales of proprietary rights related to patents, processes and trade secrets; rights to use books, music, etc., including end-user rights related to digital content; rights to reproduce and/or distribute books, music, etc.; outright sales of proprietary rights related to books, music, etc.; rights to use trademarks; outright sales of proprietary rights related to trademarks; rights to use recorded performances and events, including end-user rights related to digital content; rights to reproduce and/or distribute recorded performances and events; outright sales of proprietary rights related to recorded performances and events; rights to broadcast and record live performances and events; rights to reproduce and/or distribute general use computer software; outright sales of proprietary rights related to general use computer software; fees associated with business format franchising; outright sales of proprietary rights related to business format franchising; rights to use other intellectual property; rights to reproduce and/or distribute other intellectual property; outright sales of proprietary rights related to other intellectual property
  • Sales and purchases of selected services: accounting, auditing and bookkeeping services; advertising services; auxiliary insurance services2; computer software, including end-user licenses and customization services; cloud computing and data storage services; other computer services; construction services; news agency services (excludes production costs related to news broadcasters); other information services; education services; architectural services; engineering services; surveying, cartography, certification, testing and technical inspection services; financial services; maintenance services; installation, alteration and training services; legal services; market research services; public opinion polling services; other management, consulting and public relations services; merchanting services (net receipts); mining services; operational leasing; trade-related services, other than merchanting services; artistic-related services; premiums paid on primary insurance; losses recovered on primary insurance; provision of customized and noncustomized research and development services; other research and development services; telecommunications services; health services; heritage and recreational services; audiovisual and production services; contract manufacturing services; disbursements for sales promotion and representation; photographic services (including satellite photography services); space transport services; trade exhibition and sales; convention services; agricultural services; waste treatment and depollution services; and other selected services n.i.e. (not included elsewhere)