8260 Federal Register / Vol. 86, No. 22 / Thursday, February 4, 2021 / Notices 

Last name First name Middle name/initials 

YATES ................................................................ JAMES ............................................................. MICHAEL 

YEE .................................................................... JACQUELINE ................................................... CHI WAI 

YEN .................................................................... PAU .................................................................. YONG 

YONEKAWA ....................................................... YOSHIOU .........................................................

YOSHIDA ........................................................... SATORI ............................................................

YUNG ................................................................. ISAAC .............................................................. MING-SUN 

YUNG ................................................................. NGAN ............................................................... HAU 

ZENUK ............................................................... TANYA ............................................................. E. 

ZHANG ............................................................... HONGQING .....................................................

ZHANG ............................................................... WEIYANG ........................................................ T. 

ZHANG ............................................................... ZHEHUA ..........................................................

ZHI ...................................................................... XUEYAN ..........................................................

ZUNE .................................................................. CATHERINE .................................................... ALINE MARIE 

Dated: January 27, 2021. 

Godofredo Burgos-Rodriguez, 

Manager Classification Team 82413, 

Examinations Operations—Philadelphia 

Compliance Services. 

[FR Doc. 2021–02337 Filed 2–3–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Privacy Act of 1974; System of 

Records 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Notice of a modified system of 

records notice. 

SUMMARY: In accordance with the 

Privacy Act of 1974, the Department of 

the Treasury (Treasury), Departmental 

Offices proposes to modify a system of 

records notice relating to the Treasury 

system of records titled, ‘‘Department of 

the Treasury, Departmental Offices 

.227—Committee on Foreign Investment 

in the United States (CFIUS) Case 

Management System.’’ 

DATES: Written comments must be 

received by March 8, 2021. The 

modification will be applicable on 

March 8, 2021 unless Treasury receives 

comments and determines that changes 

to the system of records notice are 

necessary. 

ADDRESSES: Written comments on this 

notice may be submitted electronically 

through the Federal government 

eRulemaking portal at http://

www.regulations.gov. Electronic 

submission of comments allows the 

commenter maximum time to prepare 

and submit a comment, ensures timely 

receipt, and enables the Department of 

the Treasury (Treasury) to make the 

comments available to the public. Please 

note that comments submitted through 

https://www.regulations.gov will be 

public, and can be viewed by members 

of the public. Due to COVID–19-related 

restrictions, Treasury has temporarily 

suspended its ability to receive public 

comments by mail. 

In general, Treasury will post all 

comments to https://

www.regulations.gov without change, 

including any business or personal 

information provided, such as names, 

addresses, email addresses, or telephone 

numbers. All comments received, 

including attachments and other 

supporting material, will be part of the 

public record and subject to public 

disclosure. You should only submit 

information that you wish to make 

publicly available. 

FOR FURTHER INFORMATION CONTACT: For 

questions about this notice and privacy 

issues, contact: Ryan Law, Deputy 

Assistant Secretary for Privacy, 

Transparency, and Records at U.S. 

Department of the Treasury, 1500 

Pennsylvania Avenue NW, Washington, 

DC 20220; telephone: (202) 622–5710. 

SUPPLEMENTARY INFORMATION: In 

accordance with the Privacy Act of 

1974, as amended (5 U.S.C. 552a), the 

Department of the Treasury (Treasury), 

Departmental Offices proposes to 

modify a system of records notice, 85 FR 

55354, relating to the Treasury system of 

records titled, ‘‘Department of the 

Treasury, Departmental Offices .227— 

Committee on Foreign Investment in the 

United States (CFIUS) Case Management 

System.’’ Treasury is (1) adding the 

authorities 44 U.S.C. 3101, and E.O. 

9397 and 13478, and (2) replacing the 

authorities ‘‘85 FR 3112; 85 FR 3158; 85 

FR 8747; 85 FR 45311’’ with ‘‘31 CFR 

part 800 (2019); 31 CFR parts 800–802 

(2020), as amended’’, to ensure that the 

public is aware of these additional 

authorities and to clarify the applicable 

regulatory authorities, even though the 

authorities are already publicly 

available in the United States Code, the 

Federal Register, and the Code of 

Federal Regulations. 

As background, in 2007, the Foreign 

Investment and National Security Act of 

2007 (FINSA), Public Law 110–49, 121 

Stat. 246, was enacted. FINSA amended 

section 721 of the Defense Production 

Act of 1950, as amended (Section 721), 

which delineates the authorities and 

jurisdiction of CFIUS. FINSA codified 

aspects of the structure, role, process, 

and responsibilities of CFIUS and the 

role of executive branch departments, 

agencies, and offices in CFIUS’s review 

of transactions for national security 

concerns, and required the issuance of 

regulations implementing its provisions. 

Treasury published regulations codified 

at part 800 of title 31 of the Code of 

Federal Regulations (CFR) pursuant to a 

final rule 73 FR 70702 (November 21, 

2008), which implemented provisions of 

FINSA, and became effective as of 

December 22, 2008. 

In 2018, the Foreign Investment Risk 

Review Modernization Act of 2018 

(FIRRMA), Subtitle A of Title XII of 

Public Law 115–232, 132 Stat. 2173, 

was enacted, which further amended 

Section 721 by broadening the 

authorities of the President and CFIUS 

under Section 721 to review and take 

action to address any national security 

concerns arising from certain noncontrolling investments and certain real 

estate transactions involving foreign 

persons. Following the enactment of 

FIRRMA, on October 11, 2018, Treasury 

published regulations in the form of an 

interim rule, which amended the CFIUS 

regulations codified at part 800 of title 

31 of the CFR to implement, and make 

updates consistent with, certain 

provisions of FIRRMA that became 

immediately effective (October 2018 

Interim Rule). See 83 FR 51316 (October 

11, 2018). The October 2018 Interim 

Rule took effect on November 10, 2018. 

Treasury published a second interim 

rule codified at part 801 of title 31 of the 

CFR on October 11, 2018, pursuant to 

section 1727(c) of FIRRMA, setting forth 

the scope of, and procedures for, a pilot 

program to review certain transactions 

involving foreign persons and critical 

technologies (Pilot Program Interim 

Rule). See 83 FR 51322 (October 11, 

2018). The Pilot Program Interim Rule, 


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Federal Register / Vol. 86, No. 22 / Thursday, February 4, 2021 / Notices 8261 

which took effect on November 10, 

2018, implemented jurisdiction over, 

and established mandatory declarations 

for, certain transactions involving 

investments by foreign persons in 

certain U.S. businesses that produce, 

design, test, manufacture, fabricate, or 

develop one or more critical 

technologies. 

On January 17, 2020, Treasury 

published two additional rules to 

implement provisions of FIRRMA. See 

85 FR 3112 (January 17, 2020); 85 FR 

3158 (January 17, 2020). The rule at 85 

FR 3112 amended CFIUS regulations 

codified at part 800 of title 31 of the 

CFR. These provisions specifically 

relate to CFIUS’s authorities and the 

process and procedures to review: (1) A 

merger, acquisition or takeover by or 

with a foreign person that could result 

in foreign control of a U.S. business; (2) 

a non-controlling ‘‘other investment’’ 

that affords a foreign person specified 

access to information in the possession 

of, rights in, or involvement in the 

substantive decisionmaking of certain 

U.S. businesses related to critical 

technologies, critical infrastructure, or 

sensitive personal data; (3) any change 

in a foreign person’s rights if such 

change could result in foreign control of 

a U.S. business or an ‘‘other 

investment’’ in certain U.S. businesses; 

or (4) any other transaction, transfer, 

agreement, or arrangement, the structure 

of which is designed or intended to 

circumvent the application of Section 

721. The rule at 85 FR 3158 adds a part 

802 to chapter VIII of title 31 of the CFR 

to implement FIRRMA’s expansion of 

CFIUS’s jurisdiction over transactions 

involving the purchase or lease by, or 

concession to, a foreign person of 

certain real estate in the United States. 

The rules at 85 FR 3112 and 85 FR 3158 

took effect on February 13, 2020. The 

rule at 85 FR 3112 further clarified that 

the CFIUS regulations codified at part 

801 of title 31 of the CFR will, going 

forward, apply only to transactions for 

which specified actions were taken on 

or after the effective date of the Pilot 

Program Interim Rule and prior to 

February 13, 2020, and that, subject to 

the applicability of the CFIUS 

regulations codified at part 801 of title 

31 of the CFR, the CFIUS regulations 

codified at part 800 of title 31 of the 

CFR as in effect on February 12, 2020, 

which may be referred to as 31 CFR part 

800 (2019), will, going forward, apply 

only to transactions for which specified 

actions were taken before February 13, 

2020. Except as described in the 

preceding sentence, the CFIUS 

regulations codified at part 800 of title 

31 of the CFR as amended by the rule 

at 85 FR 3112, which may be referred 

to as 31 CFR part 800 (2020), apply from 

February 13, 2020. Subsequent 

amendments (85 FR 8747, 85 FR 45311 

and 85 FR 57124) were made to the 

regulations codified at parts 800 and 

802 of title 31 of the CFR in 2020 to 

make certain technical corrections, 

make a clarifying revision to the 

definition of ‘‘principal place of 

business,’’ establish a fee for parties 

filing a formal written notice of a 

transaction for review by CFIUS, make 

amendments to the definition of 

‘‘substantial interest’’ and a related 

provision, and modify the mandatory 

declaration provision for certain foreign 

investment transactions involving a U.S. 

business that produces, designs, tests, 

manufactures, fabricates, or develops 

one or more critical technologies. For 

clarity in light of the numerous Federal 

Register publications, and to 

incorporate all applicable regulations 

published in the Federal Register, the 

applicable regulatory authorities for this 

system of records will be described 

pursuant to this modification of the 

system of records notice as ‘‘31 CFR part 

800 (2019); 31 CFR parts 800–802 

(2020), as amended.’’ 

Pursuant to Section 721 and its 

implementing regulations, CFIUS 

assesses or reviews, and may 

subsequently investigate (in the case of 

a review), transactions that could result 

in foreign control of a U.S. business and 

certain non-controlling investments and 

certain real estate transaction involving 

foreign persons to determine the effects 

of such transactions on the national 

security of the United States. As part of 

CFIUS’s national security processes, 

Treasury, as chair of CFIUS, 

disseminates information submitted by 

parties to the transaction and other 

available information to certain 

Executive Branch agencies. Among 

other things, CFIUS evaluates certain 

personal identifier information of 

individuals associated with the foreign 

person engaged in the transaction and 

certain parent entities (e.g., for purposes 

of conducting background checks), 

which informs CFIUS’s determination of 

the effects of a transaction on the 

national security of the United States. 

At times, this may include personal 

identifier information of U.S. nationals 

if a U.S. national is a board member or 

officer of, has an ownership interest in, 

or has another relevant role related to, 

an entity engaged in a transaction before 

CFIUS or its parent entities. CFIUS may 

also receive certain personal identifier 

information of a U.S. national who is 

involved in a transaction as an 

individual if, for example, such 

individual is selling real estate in a 

transaction filed with CFIUS. In 

addition, CFIUS may collect personal 

identifier information for other purposes 

associated with its national security 

functions, including, for example, 

personal identifier information related 

to a security officer or other person who 

may be involved in mitigating a risk 

posed to national security. This system 

of records supports CFIUS’s collection 

of transaction information for analysis 

in the performance of its assessments, 

reviews and investigations of 

transactions, and for other purposes 

associated with its national security 

functions. 

Further, pursuant to section 3101 of 

title 44 of the United States Code, ‘‘[t]he 

head of each Federal agency must make 

and preserve records containing 

adequate and proper documentation of 

the organization, functions, policies, 

decisions, procedures and essential 

transactions of the agency and designed 

to furnish the information necessary to 

protect the legal and financial rights of 

the Government and of persons directly 

affected by the agency’s activities.’’ The 

system of records supports CFIUS in 

making and preserving records as 

required under 44 U.S.C. 3101, and, 

accordingly, this modification to the 

system of records notice adds 44 U.S.C. 

3101 as an additional legal authority for 

the system of records. 

The system may include records from 

other systems of records both within 

Treasury and in records provided by 

certain other Executive Branch agencies 

for the purpose of facilitating CFIUS’s 

assessment, review and investigation of 

transactions. Such records may include 

social security numbers, names, and 

other identifying data provided by the 

Social Security Administration and 

utilized by CFIUS pursuant to, inter 

alia, Executive Order 9397 (November 

22, 1943), as amended by Executive 

Order 13478, 73 FR 70239 (November 

18, 2008), and, therefore, this 

modification to the system of records 

notice adds these Executive Orders as 

additional legal authorities for the 

system of records. 

In maintaining its records, CFIUS is 

obligated to comply with its governing 

statute, and to the extent not 

inconsistent with that statute, generally 

applicable laws. Any records from 

another Treasury system of records or 

another Executive Branch agency’s 

system of records for which an 

exemption is claimed under 5 U.S.C. 

552a(j) or (k), which may also be 

included in this system of records, 

retains the same exempt status such 

records have in the system for which 

such exemption is claimed. 


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8262 Federal Register / Vol. 86, No. 22 / Thursday, February 4, 2021 / Notices 

Additionally, pursuant to section 721(c) 

of the Defense Production Act of 1950, 

as amended, 50 U.S.C. 4565(c), and 

subject to certain exceptions provided 

therein, any information or 

documentary material filed with CFIUS 

under Section 721 is exempt from 

disclosure under the Freedom of 

Information Act, as amended (FOIA), 5 

U.S.C. 552, and no such information or 

documentary material may be made 

public. 

The related information collections 

have been submitted to the Office of 

Management and Budget (OMB) under 

control number 1505–0121. 

Treasury has included this 

established system in its inventory of 

record systems. Below is the description 

of the Treasury, Departmental Offices 

.227—CFIUS Case Management System. 

Treasury provided a report of this 

system of records to the Committee on 

Oversight and Government Reform of 

the House of Representatives, the 

Committee on Homeland Security and 

Governmental Affairs of the U.S. Senate, 

and the OMB, pursuant to 5 U.S.C. 

552a(r) and OMB Circular A–108, 

‘‘Federal Agency Responsibilities for 

Review, Reporting, and Publication 

under the Privacy Act,’’ dated December 

23, 2016. 

Ryan Law, 

Deputy Assistant Secretary for Privacy, 

Transparency, and Records. 

SYSTEM NAME AND NUMBER: 

Department of the Treasury, 

Departmental Offices .227—Committee 

on Foreign Investment in the United 

States (CFIUS) Case Management 

System. 

SECURITY CLASSIFICATION: 

Classified. 

SYSTEM LOCATION: 

Records are maintained at the 

Departmental Offices: 1500 

Pennsylvania Avenue NW, Washington, 

DC 20220. 

SYSTEM MANAGER(S): 

Departmental Offices: 

a. Director of Business Operations, 

Office of International Affairs, U.S. 

Department of the Treasury, 1500 

Pennsylvania Avenue NW, Washington, 

DC 20220. 

b. Chief Information Officer, U.S. 

Department of the Treasury, 1750 

Pennsylvania Avenue NW, Washington, 

DC 20220. 

AUTHORITY FOR MAINTENANCE OF THE SYSTEM: 

50 U.S.C. 4565; 44 U.S.C. 3101; 31 

U.S.C. 321; 5 U.S.C. 301; E.O. 9397, 

11858, 12333, 12968, 13478, and 13526, 

as amended; 31 CFR part 800 (2019); 31 

CFR parts 800–802 (2020), as amended. 

* * * * * 

HISTORY: 

85 FR 55354, September 4, 2020; 85 

FR 58308, September 18, 2020. 

[FR Doc. 2021–02262 Filed 2–3–21; 8:45 am] 

BILLING CODE 4810–25–P 


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