The regulations governing the CFIUS review process are codified at 31 C.F.R. Part 800 and 31 C.F.R. Part 801.
The regulations at 31 C.F.R. Part 800 were adopted after the 1988 enactment of section 721 of the Defense Production Act. They were amended by the final rule published at 73 Fed. Reg. 70702 (Nov. 21, 2008), which implemented provisions of the Foreign Investment and National Security Act of 2007 (FINSA) and became effective on December 22, 2008. The regulations were further amended by the interim rule published at 83 Fed. Reg. 51316 (October 11, 2018), which primarily implemented the provisions of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) that became effective immediately upon FIRRMA’s enactment. All voluntary notices filed on or after October 11, 2018 must comply with the information requirements at 31 C.F.R. § 800.402, as amended.
- Regulations (effective December 22, 2008) (regulations begin at p. 70716)
- Summary of Regulations
- Amendments (effective October 11, 2018)
As authorized by FIRRMA, CFIUS published regulations at 31 C.F.R. Part 801 for the conduct of a pilot program related to critical technology, which came into effect on November 10, 2018. Additional information is provided below.
On September 17, 2019, the Department of the Treasury issued a proposed rule for public notice and comment that, when finalized, will replace the current CFIUS regulations at 31 C.F.R. part 800. The proposed rule implements certain changes made by FIRRMA to CFIUS’s jurisdiction and processes.
These proposed regulations are scheduled to be published in the Federal Register on September 24, 2019. Once published, they will be available on this page in an official form (31 C.F.R. part 800).
Treasury also issued a proposed rule to establish a new part 802 to title 31 of the C.F.R. to implement the provisions relating to real estate transactions in section 721 of the DPA, as amended by FIRRMA. This proposed rule sets forth the scope of, and certain processes and procedures relating to, the national security review by CFIUS of certain transactions involving the purchase or lease by, or concession to, a foreign person of certain real estate in the United States.
These proposed regulations are scheduled to be published in the Federal Register on September 24, 2019. Once published, they will be available on this page in an official form (31 C.F.R. part 802).
Written comments on the proposed rules must be received by October 17, 2019. Comments submitted on the proposed rules will inform the development of the final rules to implement FIRRMA. FIRRMA requires that final rules become effective no later than February 13, 2020.
Additional information on the proposed regulations can be found on the main CFIUS page.