The US Department of Treasury (“Treasury”) has issued regulations that require filing fees on certain filings made to the Committee on Foreign Investment in the United States (“CFIUS”).
Treasury’s actions follow proposed regulations, released in March 2020, that called for filing fees for certain transactions (as we reported), consistent with the previously-enacted Foreign Investment Risk Review Modernization Act. In a somewhat unusual move, Treasury has made the filing fee requirement effective immediately (May 1, 2020), given (in Treasury’s words) “the intent and expectations of Congress and the growing number of transactions filed with CFIUS.” Perhaps recognizing the fast-track nature of the filing fee effective date, Treasury issued an “interim,” as opposed to final, regulation, and has invited additional comments on the regulations through June 1, 2020. Treasury will consider any additional comments before finalizing the filing fee rule.
For further guidance on the new filing fees and how to evaluate what, if any, fees may be required in connection with acquisitions of or investments in a US business, please see our detailed briefing.