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TIC S-Form and Instructions

Current Form S and Instructions in Effect for reports as-of April 2017 and afterwards:
  • Federal Register Notice of February 22, 2017 PDF icon  describes the revisions, effective for reports as of April 2017 and afterwards.
  • Form S PDF icon, Purchases and Sales of Long-Term Securities by Foreign-Residents. There are no changes; the form is effective for reports as-of December 2013 and afterwards.
  • Instructions for the S-Form PDF icon, effective for reports as-of April 2017 and afterwards. The changes add instructions for certain private funds that reported to the Bureau of Economic Analysis (BEA) before January 2017; add clarification of instructions regarding short-sales of borrowed securities; update the “Who Must Report” section and the “Consolidation Rules” section of the instructions to list out separately “Intermediate Holding Companies (IHCs)”, “principal trading firms” and “fund administrators”; and add some other clarifications in the instructions that are described in the Federal Register Notice.
    -- The TIC Glossary PDF icon of March 2018. The glossaries for all Treasury International Capital (“TIC”) reports are consolidated into a separate document which provides more consistency across the TIC system.
    The following is more information on the lists of countries and foreign official institutions:
    -- Geographical ClassificationPDF icon (revised for reports as of December 2013) with codes for foreign countries, areas, and organizations.
    -- Selected foreign official institutions (revised for reports as of December 2013).
 
Expired Form S and Instructions in Effect for reports as-of June 2014 through March 2017:
  • The Federal Register Notice of February 12, 2014 PDF icon described the changes, effective for reports as of June 2014 through March 2017.
  • Form S PDF icon, Purchases and Sales of Long-Term Securities by Foreign-Residents. There were no changes; the form is effective for reports as-of December 2013 and afterwards.
  • Instructions for Form S PDF icon, effective for reports as-of June 2014 through March 2017. There was a major reorganization of the instructions to be consistent with the format and style of other TIC instructions. The major changes in the instructions are: (i) The exemption level for total reportable transactions is raised from $50 million to $350 million (see page 7 of the instructions); (ii) The TIC glossary is a separate document to be used for all TIC reports; and (iii) Under electronic submission of reports, the Federal Reserve System’s “Reporting Central” replaces mention of the previous “Internet Electronic Submission (IESUB) system.”
    -- The TIC Glossary. PDF icon The glossaries for all Treasury International Capital (“TIC”) reports are consolidated into a single and separate document which  provides more consistency across the TIC system.
    The following is more information on the lists of countries and foreign official institutions:
    -- Geographical ClassificationPDF icon (revised for reports as of December 2013) with codes for foreign countries, areas, and organizations.
    -- Selected foreign official institutions (revised for reports as of December 2013).
 
Expired Form S and Instructions previously in effect for reports as-of December 2013 through May 2014. 
 
  • There was no federal register notice for this update of the country list. The revision of the country list for all TIC reporting forms is effective for reports as of December 2013 and afterwards. [FYI: On 4-25-2013, the effective date was changed to December 2013, from June 2013, for the revision of the country list.]
  • Form S PDF icon(effective for reports as-of December 2013 and afterwards) -- Foreigners' Purchases and Sales of Long-Term Securities.
  • There were no changes to the Instructions for Form SPDF icon, effective for reports as-of June 2011 through May 2014.
  • The following is more information on the new lists of countries and foreign official institutions:
    -- Geographical ClassificationPDF icon (revised for December 2013) with codes for foreign countries, areas, and organizations.
    -- Selected foreign official institutions (revised for December 2013).
 
Expired Form S previously in Effect for reports as-of June 2011 through November 2013:
  • Form S PDF icon, Foreigners' Purchases and Sales of Long-Term Securities. The form is effective for reports as-of June 2011 through November 2013. The changes made were minor: two column titles are changed to clarify the content ("U.S. equities" replaces the word "stocks"  and  "foreign equities" replaces "foreign stocks" in the titles of columns 7-8 and 11-12, respectively); a few country codes are corrected (e.g. Greenland, Eastern Caribbean Central Bank, Bank of Central African States); and the style is made uniform across the pages.
  • Instructions for Form SPDF icon, effective for reports as-of June 2011 through May 2014.
 
Previous Expired Forms and Instructions:
  • March 2009 Form S PDF icon, effective for reports as-of March 2009 through May 2011.
  • Form S Instructions PDF icon, effective for reports as-of March 2009 through May 2011. The instructions include the changes mentioned in the Sept. 2008 Federal Register Notice, as well as numerous clarifications that affected almost every section of the instructions. One clarification explained the reporting responsibilities for the different roles in an organization (e.g. brokers, dealers, prime brokers, underwriters, end-investors, paying agents, custodians, fund managers, investment managers, and issuers): see sections B (page 5) and L (page 17) and the flowcharts in appendix III.
Additional Information:
Seminar Information:
The Federal Reserve Bank of New York held a seminar on September 20, 2006 ( agenda PDF icon ), that provided: an overview of reporting requirements for the S-Form and the various B-Forms; lists of common reporting errors PDF icon for the B and S reports; and discussions of how TIC B and S data are edited by FRS staff.
 
Description:
The TIC Form S is part of the Treasury International Capital (TIC) data reporting system, which is required by law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 10033; 31 C.F.R. 128), and is designed to gather timely and reliable information on cross-border purchases and sales of long-term domestic and foreign securities by foreigners in transactions with U.S. persons. This information is necessary for compiling the U.S. balance of payments accounts and the U.S. international investment position, and for formulating U.S. international financial and monetary policies.
 
Who Reports on Form S:
Banks, other depository institutions, securities brokers and dealers, funds, investors, nonbanking business enterprises, and other entities in the U.S. who deal directly with foreign residents in purchases and sales of long-term securities. (In the instructions, see General Instructions, Section B "Who Must Report" for list of organizations.)
 
Historical Forms and Instructions:
Last Updated: 9/18/2018 12:10 PM