The ownership of foreign real estate is defined to be a business enterprise and, if foreign real estate is owned by a U.S. person, it is a foreign affiliate of a U.S. Reporter.
Real estate that is normally included in the property, plant, and equipment account of a foreign affiliate is not to be reported as a separate affiliate.
Residential real estate held exclusively by a U.S. person for personal use and not for profit-making purposes is not subject to the reporting requirements. A primary residence abroad that is leased to others while the owner is a U.S. resident, but which the owner intends to reoccupy, is considered real estate held for personal use.
Ownership of foreign residential real estate by a business enterprise, the sole purpose of which is to hold the real estate for the personal use of the owner(s) of the business enterprise, is real estate held for personal use and therefore not subject to the reporting requirements.
If you have been notified by BEA to file and the real estate owned meets the above requirements to be considered held for personal use, please complete the BE-10 Claim for Not Filing.
If you were NOT notified by BEA to file a BE-10 survey, and the real estate owned meets the above requirements to be considered held for personal use, no action is necessary.