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rBureau of Economic Analysis Reporting Obligations Webinar - July 13, 2016

 rBureau of Economic Analysis Reporting Obligations Webinar - July 13, 2016
Webinar - U.S. Bureau of Economic Analysis Reporting Obligations for Factoring Companies
with Robert M. Schechter, J.D. and Pamela R. Kaplan, J.D. – PorzioCS
Wednesday, July 13, 2016
Item Number: Web_07-16
Shipping Weight: 0lbs. 0oz.
Price: $50.00
Many U.S. factoring companies may be unaware that they are subject to mandatory reporting obligations imposed by the U.S. Department of Commerce's Bureau of Economic Analysis (the "BEA") if certain criteria are met. Specifically, U.S. factoring companies that are 10% or more foreign (non-U.S.) owned, own 10% or more of a foreign business, or transact with foreign parties, must pay particularly close attention to BEA reporting obligations and deadlines to remain compliant and avoid the risk of civil or criminal penalties. Cross-border business ownership of 10% or more can be direct or indirect through intermediate entities to trigger reporting obligations. When BEA reports are due, assessment of the compliance obligation and data gathering can be time consuming and burdensome; however, a systematized approach to BEA compliance can go far in alleviating the business burden and risk of noncompliance. This webinar will include an overview of potential BEA reporting obligations for factoring companies, the type of data required to be submitted, and processes by which these reporting obligations can be identified, simplified and met.