Senior Treasury officials are conducting an open call for input to gain further insight into potential updates to their current reviews, which would allow them to make the review process more efficient and clearer. Officials expect to receive valuable input and comments from all individuals who currently use this review process daily. Ultimately, their objective is to uncover additional efficiencies in the review process, as well as provide insight into ways in which the review process can continue to be effective and assist regulators and oversight bodies.
Public input and consultation process
The U.S. Department of the Treasury is soliciting comments from a wide range of participants, including private enterprises, trade organizations, and individuals with an interest in such matters. Comments received will help the department identify obstacles to improving present review procedures and assist in developing streamlined review processes. The comments will aid the Treasury in refining procedures while ensuring that essential protections and review standards are not compromised.
All participants are encouraged to offer their insights on the timeliness of current review procedures, documentation requirements associated with present review procedures, and the coordination required among participating departments or offices. The Department of the Treasury emphasizes the need for comments from individuals with direct experience with the department, as these comments will ultimately form the basis of any future consideration to refine the review process.
In a Request for Information (RFI) issued by the U.S. Department of the Treasury on February 6, 2026, the Department is seeking input from the public regarding potential programs or mechanisms for facilitating the review of the Committee on Foreign Investment in the U.S. (CFIUS). As part of this request, the Department is considering a program where foreign investors who regularly engage with CFIUS may be able to provide background information about themselves before engaging in particular transactions. The Department believes this would remove repetitive filings, streamline the review process, and permit comprehensive national security reviews.
Pilot program and broader review considerations
As part of the “Known Investor Program,” the program was first tested as a pilot program in May 2025 to gather data relating to the pre-transaction submission of information by investors. Through the collection of information relative to investor governance, ownership structure, and past compliance history, CFIUS can assess potential risks associated with each transaction before the proposal. A larger-scale implementation of the “Known Investor Program” is anticipated to result in reduced administrative burdens while maintaining open and effective oversight.
Comments will also be sought on broader improvements to CFIUS. As part of this request for input, the department is considering modifications to case reviews, methods of addressing non-notified transactions, and the structuring of mitigation measures to minimize administrative burdens.
Again, the Department of the Treasury emphasized that any modifications will protect the core mission of CFIUS to protect national security through the review of foreign investments affecting U.S. business or critical infrastructure. The “Known Investor Program” and related initiatives are designed to encourage beneficial foreign investment while appropriately managing the risks associated with it.
Public comments and industry implications
The public comments submitted as a result of this RFI may affect future guidance documents, the requirements or qualifications to participate in the pilot program, and the timing of any additional RFIs. Ultimately, the comments received will help develop the enhanced pilot program and other process improvements so that CFIUS reviews are as predictable, transparent, and effective as possible.
Industry observers have noted that the process of gathering input from the public may have far-reaching implications for how foreign investment is evaluated in the United States. Many in the business community are already weighing in, eager to share their perspectives. The involvement of businesses and investors in providing input into this process will be critical in developing a more efficient, secure, and transparent evaluation process for foreign investment.
