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Alert: Bureau of Economic Analysis Form BE-120 required

June 26, 2018 Article 5 min read
Authors:
Kellie Becker Robert Malmstadt
BEA Form BE-120 filing deadline approaching.

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The Bureau of Economic Analysis (BEA) is conducting the 2017 Benchmark Survey of Transactions in Selected Services and Intellectual Property with Foreign Persons (BE-120). The survey obtains data from U.S. persons who have transactions with foreign persons in the services and intellectual property types covered by the survey. Reports on this form are required to obtain reliable and up-to-date information on intellectual property and services transactions between the United States and foreign persons. The information collected will be used to help support U.S. international economic policy and to analyze the impact of that policy and the policies of foreign countries on intellectual trade in services and intellectual property.

A fully completed and certified BE-120 report is due to be filed with BEA no later than June 29, 2018, (or by July 30, 2018, for respondents that use BEA’s eFile system).

The information provided in this alert is only a general summary and is being distributed with the understanding that Plante & Moran, PLLC, is not rendering legal, tax, accounting, or other professional advice, position, or opinions on specific facts or matters and, accordingly, assumes no liability whatsoever in connection with its use.

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