USA - OFAC: Reminder for the annual report of blocked property
Wednesday, 26 September, 2018 - 11:34
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... ].
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