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U.S. Department of the Treasury

Office of Public Affairs

Date: April 27, 2020

Contact: Treasury Public Affairs, (202) 622-2960

Fact Sheet: CFIUS Regulations Establishing Filing Fees for Notices

The Treasury Department issued an interim rule—effective May 1, 2020—establishing fees for 

certain transactions filed with the Committee on Foreign Investment in the United States 

(CFIUS). The fee applies to transactions filed as voluntary notices and not to transactions 

submitted as declarations (an abbreviated notification form). The revenue generated from the 

filing fees will offset some of the expenses associated with CFIUS’s activities to protect U.S. 

national security. 

In setting the fee structure and amounts, the Treasury Department considered among other things 

the effect of the fee on foreign investment and small business concerns. The Treasury 

Department also considered the comments received from the public on the proposed rule

published in March 2020. Given the intent and expectations of Congress and the growing 

number of transactions filed with CFIUS, the Treasury Department determined that transaction 

filing fees are appropriate at this time. 

At the same time, the Treasury Department determined that an additional comment period will 

benefit the public and CFIUS. Therefore, concurrent with its issuance as an interim rule, an 

additional public comment period will commence and run through June 1, 2020. The Treasury 

Department will consider any additional comments when finalizing the rule. 

This fact sheet summarizes key aspects of the filing fee rule. Additional resources can be found 

on the Treasury Department’s website at http://www.treasury.gov/cfius.
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Key Aspects of the CFIUS Filing Fees

Effectiveness: Starting on May 1, 2020, a fee is required for any formal written notice of a

“covered transaction” or “covered real estate transaction” filed with CFIUS. This requirement 

includes notices filed by parties at the end of the declaration process, and where parties choose to 

notify CFIUS through a written notice of a transaction subject to a mandatory declaration. There 

is no fee to submit a declaration with CFIUS.

Fee Amount: The fee amount is based on the value of the transaction, according to the tiers set 

forth in the rule (summarized in the table below). 

Transaction Value: The rule describes how parties should calculate the value of a transaction 

for purposes of determining the applicable fee. Generally, the value of a transaction will be the 

total value of all consideration paid by or on behalf of the foreign person that is a party to the 

transaction—e.g., cash, shares, or in-kind consideration. 

Timing of Payment: Parties must pay any applicable fee for a notice that is formally filed with

CFIUS on or after May 1, 2020, unless a written waiver has been issued. Generally, CFIUS will 

not formally accept a notice and begin its transaction review until the applicable fee has been 

received. Payment must be made through Pay.gov and instructions are available on the Treasury

Department’s website. 

Waivers and Refunds: CFIUS may waive the filing fee, in whole or in part, if extraordinary 

circumstances relating to national security warrant such a waiver. Refunds are available in 

limited circumstances, including when CFIUS determines the transaction is not a “covered 

transaction” or “covered real estate transaction.”

Withdrawn and Refiled Notices: Where CFIUS permits parties to withdraw and refile a notice, 

parties are not required to pay an additional fee unless CFIUS determines that a material change 

to the transaction has occurred or the filing contained a material inaccuracy or omission.

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Transaction Value Range Fee Amount

$0 to $499,999.99 $0 

$500,000 to $4,999,999.99 $750 

$5,000,000 to $49,999,999.99 $7,500 

$50,000,000 to $249,999,999.99 $75,000 

$250,000,000 to $749,999,999.99 $150,000 

$750,000,000 + $300,000