[Federal Register Volume 85, Number 115 (Monday, June 15, 2020)]
[Notices]
[Pages 36261-36262]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12861]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Proposed Collection; 
Comment Request; Provisions Pertaining to Certain Investments in the 
United States by Foreign Persons and Provisions Pertaining to Certain 
Transactions by Foreign Persons Involving Real Estate in the United 
States

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other federal agencies to comment on the proposed 
information collections listed below, in accordance with the Paperwork 
Reduction Act of 1995.

DATES: Written comments must be received on or before August 14, 2020.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including

[[Page 36262]]

suggestions for reducing the burden, to Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Meena Sharma or Andrew Fair by emailing 
[email protected], calling (202) 622-1860, or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Provisions Pertaining to Certain Investments in the United 
States by Foreign Persons and Provisions Pertaining to Certain 
Transactions by Foreign Persons Involving Real Estate in the United 
States.
    OMB Control Number: 1505-0121.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 721 of the Defense Production Act of 1950, as 
amended (section 721), provides the President, acting through the 
Committee on Foreign Investment in the United States (CFIUS or the 
Committee), authority to review certain foreign investments in the 
United States in order to determine the effects of those transactions 
on the national security of the United States. In August 2018, section 
721 was amended by the Foreign Investment Risk Review Modernization Act 
of 2018 (FIRRMA), Subtitle A of Title XVII, Public Law 115-232, 132 
Stat. 2173 (Aug. 13, 2018). FIRRMA maintains CFIUS's jurisdiction over 
any merger, acquisition, or takeover that could result in foreign 
control of any U.S. business, and broadens the authorities of the 
President and CFIUS under section 721 to review and take action to 
address any national security concerns arising from certain non-
controlling investments and certain real estate transactions involving 
foreign persons.
    Executive Order 13456, 73 FR 4677 (Jan. 23, 2008), directs the 
Secretary of the Treasury to issue regulations implementing section 
721. Most recently, on January 17, 2020, the Department of the Treasury 
issued final regulations (85 FR 3112 and 85 FR 3158) implementing 
FIRRMA, including information collections related to notices and 
declarations filed with or submitted to the Committee regarding 
transactions that could result in foreign control of a U.S. business, 
certain non-controlling investments and certain real estate 
transactions involving foreign persons.
    In May 2020, the Department of the Treasury launched a new CFIUS 
Case Management System, featuring an online public portal for external 
parties to submit declarations and file notices with CFIUS in a 
standard form. As of June 1, 2020 use of this online system is now 
mandatory for all CFIUS submissions and filings. The only substantive 
change related to the information required in order for CFIUS to review 
a declaration or notice is the requirement that parties use the new 
online public portal to submit declarations and file notices, instead 
of by email.
    Form: None.
    Affected Public: Individuals and entities.
    Estimated Number of Respondents: 1,100.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 1,100.
    Estimated Time per Response: Varies from 15-20 hours per 
declaration and 116-130 hours per notice.
    Estimated Total Annual Burden Hours: 57,400.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. All comments will become a matter of public 
record. Comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
collection of information; (c) ways to enhance the quality, utility, 
and clarity of the information to be collected; (d) ways to minimize 
the burden of the collection of information on respondents, including 
through the use of technology; and (e) estimates of capital or start-up 
costs and costs of operation, maintenance, and purchase of services 
required to provide information.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: June 10, 2020.
Andrew Fair,
Deputy Director, Investment Reviews and Investigations.
[FR Doc. 2020-12861 Filed 6-12-20; 8:45 am]
 BILLING CODE 4810-25-P