Log In | Subscribe | | |

USA - OFAC: Reminder for the annual report of blocked property

Editorial Staff

On 2 July, 2018, OFAC issued a recent action notice [ https://www.treasury.gov/resou... ] notifying persons holding property blocked pursuant to OFAC sanctions regulations published in Chapter V of Title 31 of the Code of Federal Regulations of the requirement, as outlined in 31 C.F.R. 501.603, to provide OFAC with a comprehensive report on all blocked property held as of June 30 of the current year by 30 September.

The annual reports must be filed using Form TD F 90-22.50, Annual Report of Blocked Property [ https://www.treasury.gov/resou... ] (ARBP). If your institution holds 20 or more blocked accounts, OFAC recommends, but does not require, supplementing Part B of your ARBP with a spreadsheet along with your completed form. Please send completed forms to OFACReport@treasury.gov. Failure to submit a required report by September 30 constitutes a violation of 31 C.F.R. Part 501 (Reporting, Procedures and Penalties Regulations).

For more information, click here [ https://www.treasury.gov/resou... ] to view OFACs Guidance on Filing the ARBP.

For more information on this specific action, please visit this page [ https://www.treasury.gov/resou... ].

Publication: 

 


 

Amazon ads

 

When a loved-one dies, we don't know how to feel, we don't know how to react and we don't know how to behave. "Ten Things You Need To Know About Dealing With Death" is a quick and easy description of ten simple "Rules" that guide you through the grieving process, in the immediate aftermath of a death, in a practical and sometimes humorous way.

 

More information