The Committee on Foreign Investment in the United States (CFIUS) is charged with identifying and addressing national security issues arising from foreign investments in U.S. businesses and other transactions involving U.S. real estate. The scope of CFIUS jurisdiction and changes to the CFIUS process, including new mandatory filings for certain transactions, were introduced with the enactment of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA).
New regulations implementing most of FIRRMA’s provisions were issued in January 2020 and took effect on February 13, 2020. CFIUS is continuing to issue additional regulations implementing other FIRRMA provisions. We are issuing a series of notes introducing the new regulations as they are released, including a high-level summary of key provisions and additional notes, available below, providing details on some of the changes to CFIUS’s jurisdiction and processes.