BE-120 Survey of International Transactions Final Rule

The Bureau of Economic Analysis (BEA) has finalized the BE-120 Survey of International Transactions, requiring U.S. persons with significant international trade activity to report detailed financial data. This new survey is designed to enhance the accuracy and completeness of the U.S. international economic accounts, particularly concerning cross-border financial flows and trade in services. The rule specifies reporting thresholds and data requirements for affected entities.

Affected U.S. persons must review the reporting requirements and determine if they meet the survey's thresholds. Compliance will involve collecting and submitting specific financial and transactional data to the BEA. Failure to comply with reporting requirements may result in penalties. Entities should consult the final rule for precise definitions, thresholds, and submission deadlines to ensure timely and accurate reporting.