Private equity firms may be subject to new mandatory BEA reporting requirements with respect to their cross-border financial services transactions.

The Bureau of Economic Analysis (BEA) of the US Department of Commerce conducts the BE-180 benchmark survey every five years. The BEA aims to collect comprehensive economic data on US resident companies — including for this purpose private investment funds and fund managers — as well as their cross-border financial services transactions. The BE-180 is in addition to other periodic BEA surveys, such as the BE-10 and BE-13 direct investment surveys. Companies required to file a BE-180 report may need to respond or request an automatic extension as early as November 1, 2015.