New State Department Reporting Requirements for US Investments in Burma Take Effect July 1, 2013

Beginning July 1, 2013, the US Department of State will require US persons making new investments in Burma to submit two types of reports describing these investments under the recently-issued Burma Responsible Investment Reporting Requirements. First, US persons who have invested in Burma an aggregate amount in excess of $500,000 must annually report to the US Government certain details of their investments in Burma, including a description of the business activity; the reporting party's policies and procedures that address human rights, workers' rights, corruption, and environmental protection concerns; any communications the reporting party may have had with the Burmese military and armed groups; and any payments made to the Burmese government. Second, US persons must notify the Department of State of any new investments, regardless of their value, made under an agreement with the Myanma Oil and Gas Enterprise (MOGE) within 60 days of making the investment.