Cfius process. ” Learn about the regulatory role,...

Cfius process. ” Learn about the regulatory role, scope and steps of CFIUS, the U. Department of the Treasury (Treasury) published a Request for Information (RFI), seeking public input on the Committee on Foreign Investment in the United States's (CFIUS) proposed Known Investor Program (KIP) and broader ways to streamline or simplify its review process. , Section 721 of the New Committee on Foreign Investment in the U. Where national security risks are identified as they relate to a particular The CFIUS Case Management System (“CMS”) is a secure Web portal hosted by the Department of the Treasury through which parties and counsel/representatives are required to submit declarations and file notices pursuant to 31 C. partners Les Carnegie and Damara Chambers and counsel Zachary Eddington, with associates Amulya Vadapalli and Dillon Curtis. The CFIUS process remains largely voluntary, where parties may file a notice or submit a short-form declaration notifying CFIUS of a transaction in order to receive a potential “safe harbor” letter (which prevents CFIUS from subsequently initiating a review of a transaction except in limited circumstances). The U. part 800 for all declarations-related guidance. SUBMITTING A DECLARATION TO CFIUS Please reference subpart D of 31 C. This includes mergers, acquisitions, or takeovers. part 802, and any other transaction-related information, to CFIUS. What is the legal basis for CFIUS? CFIUS was established by the President of the United States through executive power in 1975 to “review [foreign] investments in the United States which, in the judgment of the Committee, might have major implications for United States national interests. allies and partners in On February 9, 2026, the U. Transaction parties must comply with the full legal requirements concerning foreign investment into the United States as set Section 1. business. CFIUS will not accept or review any draft declarations. Principles and Objectives. For CFIUS also does not have a documented committee-wide process for reviewing agreements for continued relevance. Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS or the Committee), recently published a Request for Information (RFI) seeking public comment on CFIUS’s Known Investor Program (the Program) and how the Committee can further streamline the foreign investment review process. PRE-SUBMISSION CONSULTATIONS CFIUS does not issue advisory opinions as to whether a transaction is a covered transaction or might raise national security concerns. businesses that raise national security issues. business entities and real estate assets. Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS or the Committee), recently published a Request for Information (RFI) seeking public comment on CFIUS's Known Investor Program (the Program) and how the Committee can further streamline the foreign investment review process. for national security and critical infrastructure implications. P. government agencies, chaired by the U. Treasury issued a Request for Information on the proposed CFIUS Known Investor Program, an effort to streamline reviews for eligible foreign investors who provide diligence information to CFIUS in advance of and in connection with a formal filing. 13, 2020. This week: the CFIUS filing process. FIRRMA was intended to “strengthen and modernize” CFIUS and enhance its ability to address concerns involving nonpassive, noncontrolling investments (e. S. businesses and real estate for potential national security risks. ” In 1988, the Exon-Florio Amendment to the Defense Production Act of 1950 (i. Latham & Watkins LLP represented Wolfspeed in the CFIUS clearance process with a team led by Washington, D. CFIUS Review Process The review process begins with notification to CFIUS by the parties to the transaction, which is a voluntary step except in certain cases. For many technology companies, understanding CFIUS is essential to raising capital, structuring deals, and ensuring long-term viability. These questions and answers highlight key issues and topics related to the procedures and practices of CFIUS. This initiative implements a key directive from President Trump’s America First Investment Policy and aims to facilitate investment from allied and partner nations. The Committee on Foreign Investment in the United States (CFIUS) is the federal inter-agency body that is charged with addressing in the first instance the occasional tension between maintaining open U. government committee, comprised of multiple departments and other U. , minority stake) in TID business and real estate 対米外国投資委員会 対米外国投資委員会 （英語: Committee on Foreign Investment in the United States 、 CFIUS （シフィウス））は アメリカ合衆国連邦政府 の省庁間委員会のひとつ。 1975年に フォード 大統領の大統領令11858によって設立された。 Accessible text for Figure 2: Committee on Foreign Investment in the United States (CFIUS) General Transaction Review Process Figure 3: Examples of National Security Risks Addressed by CFIUS Mitigation Agreements Accessible text for Figure 3: Examples of National Security Risks Addressed by CFIUS Mitigation Agreements Figure 4: Number of Active Review Process The CFIUS review process begins when parties to a subject transaction notify the Committee or when CFIUS initiates a review on its own. Voluntary disclosure to CFIUS may be appropriate when a transaction or investment may have national security implications. CFIUS has 30 days to review a declaration or written notification to determine if a transaction involves a foreign person in which a foreign government has a substantial interest. Baker, Andrew Bisbas, Christian C. President Joseph Biden’s recently issued Executive Order provides guidance related to the US national security foreign direct investment review process administered by the Committee on Foreign Investment in the United States. The Executive Order reiterated several common themes, confirmed the scope of various factors identified in the Defense Production Act Section 721 as amended by the These questions and answers highlight key issues and topics related to the procedures and practices of CFIUS. Get answers to the most common questions about CFIUS, including its role in foreign investment reviews and key considerations for businesses. Learn about the risks and consequences, and discover why this committee's decisions are crucial to the country's stability and security. 115-232), which expanded CFIUS’s jurisdiction and review process in key ways. (CFIUS) regulations under Foreign Investment Risk Review Modernization Act (FIRRMA) went into effect on Feb. America’s investment policy is critical to our national and economic security. part 800 and 31 C. This week, we provide the last in our series of illustrations from a new book on CFIUS. Aug 17, 2021 · Get answers to the most common questions about CFIUS, including its role in foreign investment reviews and key considerations for businesses. On May 8, 2025, the U. 2. The Committee has broad discretionary power to determine whether those investments pose national security risks, and the CFIUS process can impact the timing and The Guide To Demystify The CFIUS Process (“Guide”) provides an overview of (i) the regulatory role and function of CFIUS, (ii) the scope and steps involved in the CFIUS review process, and (iii) some practical information and advices in relation to the CFIUS review process. U. Documenting such processes would help ensure CFIUS member agencies respond in a timely manner to violations and can focus their resources on mitigation agreements that remain relevant. e. The Treasury indicates that its goal is to facilitate investment from U. They are intended only as general information to assist parties that have submitted or may in the future submit transactions to CFIUS for assessment or review. Even when notification is not mandatory, firms have an incentive to do so to receive potential "safe harbor" from CFIUS, which limits future CFIUS action on a transaction after its cleared. Here, we first briefly describe the background of CFIUS, the scope of CFIUS's authority, and the basics of the CFIUS review process. Welcoming foreign investment and strengthening the United States’ world The Committee on Foreign Investment in the United States (CFIUS or the Committee) is an interagency committee that reviews transactions involving certain foreign investments in U. , Section 721 of the FIRRMA strengthens and modernizes the Committee on Foreign Investment in the United States, or CFIUS, a multi-agency government body chaired by the Secretary of the Treasury that reviews foreign investment for national security considerations. The regulations, at 31 C. Department of the Treasury published a Request for Information (RFI), seeking public input on the Committee on Foreign Investment in the United States’s (CFIUS) proposed Known Investor Program (KIP) and broader ways to streamline or simplify its review process. government committee that reviews foreign investments in the U. This guide is prepared by Baker Botts L. CFIUS is a U. R. economy. Download the illustration, plus previous images, book information, author contact, and more. CFIUS Overview Committee on Foreign Investment in the United States In circumstances where foreign persons – including all types of business associations – are contemplating buying or making an investment in a US business, it is prudent to consider whether the contemplated transaction will be subject to the purview of the Committee on Foreign Investment in the United States (CFIUS or the CFIUS' impact on government operations: Uncover how the Committee on Foreign Investment in the US affects federal agency functions, causing a potential shutdown. The RFI includes three components: (1) background on CFIUS and Treasury’s efforts to implement an expedited process mandated by the President; (2) proposed eligibility criteria to participate in CFIUS’s Known Investor Program and a draft questionnaire for eligible participants; and (3) requests for feedback from the public to assist in The Committee on Foreign Investment in the United States (CFIUS) is poised to make the most substantial revisions to its review process for foreign investments into U. Treasury seeks public feedback on CFIUS “Known Investor” program to streamline foreign investment reviews while maintaining national security oversight. business has export controlled products and technologies. Department of the Treasury, and responsible for reviewing foreign investment into the United States. Department of the Treasury, which chairs CFIUS, recently published a Request for Information seeking public comment on CFIUS’s Known Investor Program and how the Committee can further Chris Pilkerton, Treasury’s assistant secretary for investment security, called the agency’s request for information an “important step towards advancing enhancements to the CFIUS process. -based businesses that they seek to acquire, obtaining clearance from the Committee on Foreign Investment in the United States (CFIUS) — which reviews the national security implications of certain foreign investments in the United States — involves a process that For both declarations and notices, CFIUS will also typically request additional information through questions and answers during the review. Article May 9, 2024 FAQs on the Committee on Foreign Investment in the United States (CFIUS) Process and Procedures By Doreen M. C. The Committee on Foreign Investment in the United States (CFIUS or the Committee) is an interagency committee that reviews transactions involving certain foreign investments in U. businesses. Streamlining the CFIUS Process Treasury is also soliciting feedback from the public on other ways that CFIUS can streamline its authorities and processes in relation to the case review process, non-notified transactions, mitigation, and monitoring and enforcement. § 800. businesses since its rules were overhauled in February 2020. The CFIUS process can take anywhere from 30 days to many months, or even longer, depending on both the form of filing the parties elect to make and on the Committee's level of interest in that filing. Request for INFORMATION ON CFIUS KNOWN INVESTOR PROGRAM and Streamlining the Foreign Investment Review ProcessOn February 6, 2026, the Department of the The Committee on Foreign Investment in the United States (CFIUS, / ˈsɪfiəs /) is an inter-agency committee in the United States government that reviews the national security implications of foreign investments in the U. For foreign companies investing in the United States, as well as for the U. Included in this practice note is a flowchart explaining how to assess whether the Committee’s rules apply. 404 The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee that is tasked with reviewing foreign investments in U. CFIUS was established by the President of the United States through executive power in 1975 to “review [foreign] investments in the United States which, in the judgment of the Committee, might have major implications for United States national interests. Initially, Treasury will conduct a pilot of this process and build from it over time. F. CFIUS oversees transactions that might give foreign entities control of U. , a leading law firm with experience in representing Chinese and other companies in CFIUS transactions. We discuss at a high level what investors and investments may be covered, how to assess CFIUS risk, and the considerations associated with filing versus not filing. Department of the Treasury (Treasury) announced plans to establish a “fast-track” review process for the Committee on Foreign Investment in the United States (CFIUS). capital markets and national security concerns. The process involves several stages: The Committee on Foreign Investment in the United States (CFIUS or the Committee) Annual Report to Congress (the Report) responds to the requirements set out in statute at section 721(m) of the Defense Production Act of 1950, as amended, and highlights key indicators of CFIUS’s activities and process, including the complexity and volume of 1. The CFIUS review process is mandatory for some transactions and investments such as when a U. Contardo, and Kei Komuro What is a CFIUS filing, when should it be made, and what happens if a party fails to file?. Transaction parties must comply with the full legal requirements concerning foreign investment into the United States as set This process will include the launch of a Known Investor portal where the Committee on Foreign Investment in the United States (CFIUS), chaired by Treasury, can collect information from foreign investors in advance of a filing. Please note that parties may not simply defer all responses to The Committee on Foreign Investment in the United States (CFIUS or the Committee) reviews foreign acquisitions, mergers and takeovers of U. CFIUS Frequently Asked Questions These questions and answers highlight key issues and topics related to the procedures and practices of CFIUS. Treasury is seeking commment on changes to the Committee on Foreign Investment in the United States (CFIUS or the Committee) process, which it chairs. Following the initial submission, the declaration process typically takes approximately five to eight weeks, and the notice process usually takes approximately three to five months. How can CFIUS address operational and financial impacts that its process, including the negotiation of mitigation agreements, may have on early-stage US businesses? The U. The formal CFIUS review process begins when parties submit a notice or declaration regarding a foreign investment in a U. ” He said it highlights the “efforts being made to expand stakeholder engagement with CFIUS with the aim of enhancing and evolving the Committee’s processes while maintaining our longstanding A new program that will allow certain foreign investors to be prevetted and admitted to fast-track approval by the Committee on Foreign Investment in the United States will likely have tangible CFIUS operates pursuant to section 721 of the Defense Production Act of 1950, as amended (section 721), and as implemented by Executive Order 11858, as amended, and the regulations at chapter VIII of title 31 of the Code of Federal Regulations. Foreign Direct Investment and the New CFIUS Rules The Committee on Foreign Investment in the United States (CFIUS) is the front line of America’s national security defense in an era of volatile geopolitics. g. Edelman, Abbey E. On February 9, 2026, the U. We then discuss some important strategic issues for transac-tions that may fall under CFIUS's purview. L. The process remains largely voluntary, where parties may submit a short-form declaration notifying CFIUS of a covered transaction in order to receive a potential “safe harbor” letter (which limits CFIUS from subsequently initiating a review of a transaction except in certain limited circumstances). In 2018, Congress passed the Foreign Investment Risk Review Modernization Act (FIRRMA, Title XVII, P. It also reviews investments in critical technologies, infrastructure, sensitive data, and specific real estate deals. The department recently published a Request The U. CFIUS: DIRECTIVE AND JURISDICTION In broad terms, CFIUS is charged with reviewing certain “covered transactions” and “covered real estate transactions” involving foreign direct investment in the United States to ensure that the national security interests of the United States are maintained and supported. smefo, okvz, lfjnt, 4win6, jdv0q, rdxyp, ctmbc9, qstul, 4gto, ge1n,