My company is a brokerage house and we paid fees on a securities transaction to an unaffiliated brokerage house in Switzerland. Are such fees reportable on the BE-22 Schedule B under service code 11?

No. Service code 11 on the BE-22 only covers direct purchases from unaffiliated foreign persons of financial services by U.S. firms that are not financial services intermediaries or providers. For example, financial services purchased directly from unaffiliated foreign persons by a U.S. manufacturing firm are covered on Schedule B, service code 11 of the BE-22, but financial services purchased by a U.S. bank or brokerage house are covered on quarterly form BE-85. See http://www.bea.gov/surveys/pdf/be85.pdf to view a copy of the BE-85.


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