CFIUS Reports Rebound in Filings and Details Known Investor Pilot Program

The Committee on Foreign Investment in the United States ("CFIUS") found that foreign investment filings rebounded in 2025 after two years of decline, and detailed a new pilot program aimed at facilitating investment from allied countries.

In the annual report to Congress (see prior coverage), the authors stated that CFIUS received 347 total filings in 2025, representing a roughly 7 percent increase over the previous year and the first annual increase since filings peaked in 2022.

CFIUS reported that investors from China accounted for 17 percent of all notices filed in 2025, maintaining its status as the largest filing country, though the report noted that, counting only distinct transactions, the most notices came from investors from Japan, the United Arab Emirates, and Canada.

The committee highlighted the launch of a Known Investor Pilot Program in 2025, which collects detailed information from foreign investors before they file, in order to gain administrative efficiencies. The initiative implements the America First Investment Policy's direction to create a fast-track process for investment from allies and partners.

CFIUS also detailed compliance and enforcement activity for 2025. The report stated that CFIUS monitoring agencies reported conducting 40 site visits in 2025 and that CFIUS was monitoring 234 mitigation agreements and conditions at year-end.

Lastly, excluding days tolled during the lapses in appropriations, CFIUS maintained a 67 percent clearance rate of "all covered transactions within the 30-day assessment period for declarations or the first 45-day review period for notices."