Request for Information Pertaining to the CFIUS Known Investor Program and Streamlining the Foreign Investment Review Process
Published Date: 2/9/2026
Proposed Rule
Summary
The U.S. Treasury wants your ideas on making the CFIUS foreign investment review faster and simpler, especially through the Known Investor Program. This affects foreign investors and U.S. businesses involved in international deals, aiming to keep national security strong while cutting red tape. Comments are open until March 18, 2026, so now’s the time to share your thoughts and help shape future rules.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 3 costs, 1 mixed.
Known Investor Program Could Speed Reviews
If you are a foreign investor or a U.S. business in an international deal, the Treasury is proposing a Known Investor Program to collect investor information in advance so CFIUS can review transactions more efficiently. Participation would be voluntary and would not guarantee any particular outcome in CFIUS's review.
Repeat-Filer Threshold to Join Program
To be eligible for the Known Investor Program, a Foreign Investor must have submitted at least three distinct Covered Transactions or Covered Real Estate Transactions to CFIUS within the past three years and received notification that CFIUS concluded action (or was unable to conclude on a declaration) for at least one of those transactions. The Foreign Investor must also expect to submit at least one Covered Transaction or Covered Real Estate Transaction to CFIUS within the next 12 months.
Ties to Adversaries Bar Program Access
Known Investor Entities would be ineligible if, among other things, they are listed on certain U.S. government lists (e.g., the Entity List, Military End User List, SDN List, NS-CMIC List, SSI List, or 1260H List), have a headquarters or principal place of business in an Adversary Country, have more than 10% interest held by listed parties or a government of an Adversary Country, have a third party from an Adversary Country holding over 25% interest, or have more than 50% of employees located in Adversary Countries.
Extensive Questionnaire and Disclosure Burden
Known Investor Program participants would be required to complete a detailed Questionnaire covering ownership, funds, governance, board and officer biographical information, financials (e.g., revenue, EBITDA, debt), manufacturing and R&D locations, supply chain and cybersecurity practices, U.S. Government contracts, prior CFIUS filings and mitigation history, and investments related to Adversary Countries. Responses must be certified for completeness and accuracy and would be treated as confidential under CFIUS authorities.
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Key Dates
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