§4582 Notification on Investments

Summary

The Secretary must write rules within 450 days after December 18, 2025, that require a U.S. person (or its controlled foreign entity) that knowingly completes a covered national security transaction in a prohibited technology (unless the Secretary has banned it under section 4581(a)) or in a notifiable technology to send a written notice to the Secretary within 30 days after the transaction is finished. The Secretary must make those rules in consultation with the Commerce and State Departments and other agencies as needed, publish them for public comment under title 5 procedures, and may change or replace parts of the current Outbound Investment Rule (part 850 of title 31, CFR). The rules should try to limit compliance burdens, use the least onerous approach that works, and involve stakeholders. If the Secretary receives a notice, the Secretary must quickly check it and tell the sender right away if it is incomplete and why. The Secretary must also set up a process to find transactions that should have been reported when information is reasonably available. In enforcement actions, the Secretary bears the burden of proof under section 556(d) of title 5. If the Secretary has banned the transaction under section 4581, these notice rules do not apply.