Federal Entrepreneur-in-Residence Act of 2012 - Directs the Director of the Office of Personnel Management (OPM) to establish an entrepreneur-in-residence program to appoint in-house entrepreneurs who have demonstrated success in working with small business concerns and entrepreneurs to: (1) assist federal agencies in improving outreach to small business concerns and entrepreneurs, (2) provide recommendations on inefficient or duplicative agency programs and on methods to improve agency efficiency, (3) facilitate meetings and forums to educate small business concerns and entrepreneurs on agency programs and initiatives, and (4) provide technical assistance or mentorship. Limits to 10 the number of entrepreneurs-in-residence that the Director may appoint in any year. Terminates such program after FY2016.