The U.S. Department of the Treasury, which chairs the Committee on Foreign Investment in the United States, or CFIUS, has released a request for information seeking public feedback on the CFIUS Known Investor Program and potential ways to improve the efficiency of the foreign investment review process without compromising national security oversight.
The RFI asks industry stakeholders, foreign investors, legal experts and other interested parties to comment on how the Known Investor Program could function, including eligibility requirements, information submissions and anticipated benefits, the Treasury Department said Friday.
“As Chair of CFIUS, Treasury is leading efforts to improve process efficiencies while ensuring that CFIUS continues to fulfill its core mission of identifying and addressing national security risks that can accompany foreign investment,” said Secretary of the Treasury Scott Bessent.
Treasury is also requesting input on broader opportunities to streamline CFIUS procedures, such as reviews of non-notified transactions and ongoing mitigation compliance. Public comments on the RFI are due March 18.
What Is the CFIUS Known Investor Program?
First introduced in May 2025, the Known Investor Program would allow participating foreign investors to voluntarily submit background information outside of individual transaction filings. Treasury said the approach could help CFIUS develop greater familiarity with repeat investors, reduce duplicative data requests and allow the committee to focus resources more effectively.
Treasury emphasized that any process improvements would not alter CFIUS’s statutory authorities or lower its standards for identifying and addressing national security risks associated with foreign investment in the United States.
How Does the RFI Align With White House Investment Policy?
Treasury’s RFI closely aligns with the White House’s America First Investment Policy national security presidential memorandum, signed in February 2025, which calls for promoting foreign investment from trusted partners while strengthening safeguards against national security threats. The memorandum directs federal agencies to facilitate low-risk and passive investments from allied nations and to improve the efficiency and predictability of the foreign investment review process without weakening oversight.
By seeking public input on the CFIUS Known Investor Program and potential process streamlining, Treasury is advancing those objectives by exploring ways to differentiate between trusted, repeat investors and higher-risk transactions, allowing CFIUS to focus its resources on investments that may pose greater national security concerns.
