- A BE-120 survey is required of each U.S. person that had transactions with foreign persons in the covered services or intellectual property during its 2022 fiscal year. Any U.S. person that did not have transactions in the covered services or intellectual property is required to complete through page 6, if notified by BEA about this survey.
- Any U.S. person whose combined sales to foreign persons of covered services and intellectual property exceeded $2 million for its 2022 fiscal year, or whose combined purchases from foreign persons of covered services and intellectual property exceeded $1 million for its 2022 fiscal year, on an accrual basis is required to provide data on total sales and/or total purchases of each of the covered types of services and intellectual property transactions and must disaggregate the totals by country and by relationship to the foreign transactor (foreign affiliate, foreign parent group, or unaffiliated).
- Any U.S. person whose combined sales to foreign persons of covered services and intellectual property were $2 million or less for its 2022 fiscal year, or whose combined purchases from foreign persons of covered services and intellectual property were $1 million or less for its 2022 fiscal year, is required to provide the total sales and/or total purchases for each type of transaction in which they engaged.
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