Regulations Pertaining to Mergers, Acquisitions and Takeovers by Foreign Persons

Forms and Documents

Document Name	Status
Form CFIUS Real Estate Declarations of Covered Real Estate Transactions Form	Unchanged
Form CFIUS Declaration Declarations of Covered Transactions Form	Unchanged
CFIUS Case Management Portal Screenshots 2020-05-12.docx Supplementary Document	2020-05-14
1505-0121 - Emergency Justification Memo 2020-05-13_Signed.pdf Supplementary Document	2020-05-14
1505-0121 SS CFIUS Web Portal 2020-05-12.docx Supporting Statement A	2020-05-14

IC Document Collections

IC ID	Document Title	Status
43825	Notices of Covered Transactions	Unchanged
237869	Declarations of Covered Real Estate Transactions Form	Unchanged
237868	Notices of Covered Real Estate Transactions	Unchanged
233482	Declarations of Covered Transactions Form	Unchanged

ICR Details

OMB Control No: 1505-0121	ICR Reference No: 202005-1505-005
Status: Historical Active	Previous ICR Reference No: 202001-1505-002
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Regulations Pertaining to Mergers, Acquisitions and Takeovers by Foreign Persons
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 05/15/2020
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/15/2020
	Date Received in OIRA: 05/14/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2020	6 Months From Approved	01/31/2023
Responses	1,100	0	1,100
Time Burden (Hours)	57,400	0	57,400
Cost Burden (Dollars)	0	0	0

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Abstract: Treasury disseminates to other agencies that are members of the Committee on Foreign Investment in the United States information collected under the regulations from parties involved in certain foreign acquisitions of a U.S. company, investment or real estate in order to do a national security analysis of the acquisition.

Emergency Justfication: The Department of Treasury (Treasury) is requesting emergency processing of a revision to OMB Control No. 1505-0121 in order to launch the new CFIUS Case Management System, featuring an online Public Portal for external parties to submit CFIUS Declarations and Notices. On January 17, 2020, Treasury issued final regulations (85 FR 3112 and 85 FR 3158) implementing FIRRMA to include information collections related to notices and declarations filed with or submitted to the Committee regarding covered control transactions, covered investments, and covered real estate transactions. The increased number of CFIUS declarations and notices expected due to FIRRMA has created the need for Treasury to build a case management system that standardizes submission formats, enables faster processing and handles submissions – which may include sensitive information – more securely. Currently, declarations (which do not typically exceed five pages) are submitted to CFIUS via email using fillable PDF forms available on Treasury.gov. Notices (which may exceed 100 pages) are currently submitted via email as Microsoft Word or Adobe PDF files and follow no standardized format. The submission of CFIUS declarations and notices is essential to the mission of the Treasury Department in strengthening national security. The ability to collect and process notices and declarations through the Case Management System will enhance CFIUS’s ability to efficiently evaluate transactions and manage cases given the Committee’s expanded scope of review under FIRRMA. It was not possible to have the system launched at the same time that the final regulations were issued or include it in the accompanying revision to OMB Control No. 1505-0121. However, with completion of system development and launch planned for May 20, 2020, it is not possible to follow normal clearance procedures under the Paperwork Reduction Act either. The information required by CFIUS under the current regulations is not changing; however the new Public Portal will enable respondents to file their notices and declarations in a more straightforward and structured manner using an interactive Web form. The system will also provide greater clarity to respondents regarding responsive information and minimize the amount of follow-up that Treasury must conduct to ensure that respondents have provided all the information required by the CFIUS regulations. Additionally, the Case Management System will provide a standardized and secure method for parties to submit sensitive information. Treasury requests that OMB approve the revision to 1505-0121 by May 15, 2020 in order to assure that the Case Management System can be launched on schedule.

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Authorizing Statute(s): PL: Pub.L. 100 - 49 721 Name of Law: Foreign Investment and National Security Act of 2007
   PL: Pub.L. 115 - 232 Subtitle A Name of Law: Foreign Investment Risk Review Modernization Act of 2018
  

Citations for New Statutory Requirements: PL: Pub.L. 115 - 232 Subtitle A Name of Law: the Foreign Investment Risk Review Modernization Act of 2018

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Notices of Covered Real Estate Transactions
Declarations of Covered Real Estate Transactions	CFIUS Real Estate Declaration Form	Declaration Submission Form for Real Estate Transactions Under 31 C.F.R. Part 802
Notices of Covered Transactions
Declarations of Covered Transactions	CFIUS Declaration Form	Declaration Submission Form for Covered Control Transactions and Covered Investments Under 31 C.F.R. Part 800

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,100	1,100	0	0	0	0
Annual Time Burden (Hours)	57,400	57,400	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $25,900,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 05/14/2020

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