New collection (Request for a new OMB Control Number)
No
Regular
Approved without change
02/24/2025
11/27/2024
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
02/29/2028
36 Months From Approved
318
0
0
28,620
0
0
0
0
0
On August 9, 2023, the President issued Executive Order 14105, âAddressing United States Investments in Certain National Security Technologies and Products in Countries of Concern,â 88 FR 54867 (the Outbound Order), pursuant to his authority under the Constitution and the laws of the United States, including the International Emergency Economic Powers Act (IEEPA) (50 U.S.C. 1701 et seq.), the National Emergencies Act (50 U.S.C. 1601 et seq.), and section 301 of title 3, United States Code. In the Outbound Order, the President declared a national emergency to address the threat to the United States posed by countries of concern, which seek to develop and exploit sensitive technologies or products critical for military, intelligence, surveillance, or cyber-enabled capabilities. The Outbound Order directs the Secretary of the Treasury to issue regulations to prohibit or require notification of certain types of transactions by a U.S. person involving a person of a country of concern that is engaged in certain activities involving specific categories of advanced technologies and products. The Outbound Order also authorizes the Secretary of the Treasury to exempt from applicable prohibitions or notification requirements any transaction or transactions determined to be in the national interest of the United States and to investigate and make requests for information relative to notifiable or prohibited transactions.
The Outbound Order identifies three categories of national security technologies and products: semiconductors and microelectronics, quantum information technologies, and artificial intelligence. In an Annex to the Outbound Order, the President identified the Peopleâs Republic of China, along with the Special Administrative Regions of Hong Kong and Macau, as a country of concern.
The Outbound Order directs the Secretary of the Treasury to issue regulations that identify categories of notifiable transactions that involve the national security technologies and products that the Secretary, in consultation with the Secretary of Commerce and, as appropriate, the heads of other relevant agencies, determines may contribute to the threat to the national security of the United States identified in the Outbound Order. U.S. persons are required to notify the Department of the Treasury (Treasury) of each such transaction and include relevant information about the transaction in each notification.
On November 15, 2024, Treasury published a final rule (Final Rule), 89 FR 90398, to implement the Outbound Order. As relevant to this Supporting Statement, the Final Rule requires U.S. persons to submit a notification with respect to (i) any ânotifiable transactionâ, as defined in the Final Rule; (ii) any transaction by a controlled foreign entity that would be a notifiable transaction if engaged in by a U.S. person; and (iii) any transaction for which a U.S. person acquires actual knowledge after the completion date of the transaction that the transaction would have been a prohibited or notifiable transaction if such knowledge had been possessed by the relevant U.S. person at the time of the transaction. Such notification will include relevant details on the U.S. person involved in the transaction as well as information about the transaction and the covered foreign person involved. The Final Rule requires any U.S. person that has filed a notification to respond to any questions or document requests from Treasury related to the transaction or compliance with the Final Rule; maintain a copy of the notification filed and supporting documentation for a period of ten years from the date of the filing; and notify Treasury in writing of any material omission or inaccuracy in a previous submission.
US Code:
50 USC 1701 et seq.
Name of Law: International Emergency Economic Powers Act
US Code:
50 USC 1601 et seq.
Name of Law: National Emergencies Act
EO: EO 14105 Name/Subject of EO: Addressing United States Investments in Certain National Security Technologies and Products in Count
This is a request for a new OMB Control Number in connection with the Final Rule.
$13,000,000
No
No
No
No
No
No
No
Meena Sharma 999 999-9999
Reginfo record details
No
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:
(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;
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.
Outbound Investment Notification Form
1505-0282 Outbound PRA Supporting Statement (Final Rule).docx
Outbound Investment Notifications