The Committee on Foreign Investment in the United States (CFIUS or the Committee) released a public version of its annual report to Congress for the calendar year 2020. The report covers transactions filed with the Committee in 2020 and describes the CFIUS process following the full implementation of its new authority under the Foreign Investment Risk Review Modernization Act (FIRRMA). Notably, CFIUS declarations increased nearly 35% from the previous year, with those from Canada and Japan topping the list, while formal notices decreased nearly 20% from 2019, with those from Japan and China topping that list. Also, CFIUS brought in 17 deals as a result of its non-notified process but subjected fewer deals to mitigation measures and a further investigation stage. The following provides further highlights.