作者:罗华Laura Luo, Matthew Dickerson 金杜律师事务所
2020年4月29日,美国财政部的投资安全办公室在《联邦公报》上公布了有关CFIUS申报费的暂行规定 [1],为交易各方向CFIUS提交正式书面报备规定了申报费,实施《2018年外国投资风险评估现代化法案》(“FIRRMA法案”)的第1723条。该暂行规定适用于2020年5月1日之后向CFIUS提交的所有报备,而且在收到申报费前CFIUS一般不会接受或开始审阅交易方所提交的报备。为鼓励交易方使用简要报备(而非全面申报)的申报方式,暂行规定对于向CFIUS提交的简要报备并不设置申报费。
书面报备的申报费根据“交易总值”分为以下几档:
- 公开交易证券的价值以申报提交日的前一个交易日的收盘价格为准;
- 其他非现金资产、服务及其他实物对价按照申报提交日当天的“公允市值”确定其价值;
- 债权以其现金价值为准;
- 外国人所拥有的或有股权的转换应当按照为购买该股权所支付的初始对价确定其价值,如果股权转换条件即将发生,则还需要在初始对价的基础上再加上与该股权转换相关的额外对价。
- 如果交易方将一项美国业务转让至一个合资企业,则交易对价等于所有被转让美国业务的价值总和(但是美国财政部也在考虑使用其他替代方法计算该等对价价值,并鼓励公众对此提出意见);
- 如果对价总值达到5,000,000美元或以上,但是“美国业务资产的公允市值”低于5,000,000美元,则需要缴纳一项750美元的申报费;
- 在一项多阶段交易中,交易总值应当包括每个阶段的、在申报提交当天可合理确定的交易总值。
参考资料:美国财政部网站[3],2020年5月。
CFIUS Establishes Filing Fees
Preface On April 29, 2020, The U.S. Department of the Treasury, Office of Investment Security, published an interim rule[1] in the Federal Register, establishing a fee for transaction parties filing a formal written notice of a transaction for review by the Committee on Foreign Investment in the United States (“CFIUS“), implementing section 1723 of the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA“).

- Traded securities will be valued at the closing price on the trading day immediately prior to the date of filing;
- other non-cash assets, services and other in-kind consideration will be determined by their “fair market value” on the filing date;
- loans will be valued at their cash value;
- the conversion of contingent equity interests previously acquired by the foreign person shall be valued at the consideration initially paid to acquire such interests, plus any additional consideration paid in connection with the conversion if the conditions leading to the conversion will occur imminently.
- Where one U.S. business is contributed to a joint venture, the value of the transaction is the collective value of each U.S. business contributed (although the U.S Department of the Treasury is considering alternative methods of calculating this, and is encouraging the submission of public comments);
- Where the value of the transaction is $5,000,000 or more, but the “fair market value of the assets of the U.S. business” is less than $5,000,000, a filing fee of $750 will be applied; and
- In a multiple-phase transaction, the value of the transaction includes the total value of each phase, as may be reasonably determined as of the date of the filing.
Source: Website[3], U.S. Department of the Treasury, May 2020