Where no voluntary notice has been filed by the parties to certain transactions and no safe harbor has been granted under Section 721 of the Defense Production Act of 1950, as amended, the Committee may seek to determine whether such transactions may be subject to CFIUS’s jurisdiction and, if so, take steps to initiate a review of the transactions. Specifically, if the Committee determines that a non-notified transaction may be a covered transaction under 31 C.F.R. Part 800 or a covered real estate transaction under 31 C.F.R. Part 802 and may raise national security considerations, Treasury may contact the transaction parties on behalf of the Committee for additional information. Transactions that are identified through the non-notified process are often among the most complicated that CFIUS considers. If the Committee determines that a non-notified transaction is a covered transaction that raises national security risks, mitigation measures to address national security risks may be required.
Following the mandate provided in the Foreign Investment Risk Review Modernization Act of 2018, the Committee’s non-notified function was formalized and centralized within Treasury. Since 2020, Treasury has dedicated staffing, training, resources, and outreach to support this critical effort—strengthening and sharpening the Committee’s ability to identify and assess whether non-notified transactions merit further review.
The Committee leverages a range of sources—including tips from the public, referrals from Executive branch agencies and Congress, media reports, commercial databases, and classified reporting—to identify and analyze non-notified transactions. The Committee screens thousands of such transactions per year and formally requests information or filings from the parties in a subset of cases. See the CFIUS Reports and Tables page for more information.
Transaction parties can find detailed instructions for submitting a notice or declaration, as well as the regulations that detail the mandatory filing requirements, on the applicable web pages on the left menu bar.
Tips & Referrals
Members of the public may contact Treasury with any tips, referrals, or voluntary self-disclosures at CFIUS.tips@treasury.gov or by clicking the button below. In particular, Treasury welcomes relevant information regarding:
- Identification of a contemplated or completed foreign investment in, or an acquisition of, a U.S. business or real estate that may be within CFIUS’s purview and may raise national security concerns;
- Incidents that may constitute an apparent violation of an existing CFIUS mitigation agreement or order or otherwise implicate national security;
- Voluntary self-disclosure of a potential violation of CFIUS mitigation terms or applicable regulations; or
- Any other issue that may be of interest to Treasury or the Committee relating to foreign investment and national security.