Frequently Asked Questions

757. Are U.S. banking institutions authorized to process “U-turn” transactions in which Cuba or a Cuban national has an interest?

757 … Yes. Effective May 29, 2024, banking institutions subject to U.S. jurisdiction are authorized to process “U-turn” transactions, i.e., funds transfers originating and terminating outside the United States, provided that neither the originator nor the beneficiary is a person subject to U.S.… Read more

758. Is Cuba open for U.S. business and investment?

758 … Persons subject to U.S. jurisdiction are prohibited from doing business or investing in Cuba unless authorized by OFAC. An OFAC general license authorizes, subject to certain conditions and limitations, the exportation from the United States, and the reexportation from third countries, of… Read more

759. Does the prohibition in 31 CFR § 515.209(a) require US businesses engaged in the Cuban market and that may undertake direct financial transactions with entities included on the State Department’s Cuba Restricted List to terminate their Cuba-related business relationships pursuant to the regulatory amendments?

759 … Consistent with the Administration’s interest in not negatively impacting U.S. businesses for engaging in lawful commercial opportunities, most existing Cuba-related commercial engagements that include direct financial transactions with entities and subentities identified on the State… Read more

707. What constitutes “support for the Cuban people” for generally authorized travel and other transactions?

707 … Section 515.574 of the CACR contains a general license that authorizes, subject to conditions, travel-related transactions and other transactions that are intended to provide support for the Cuban people, which include activities of recognized human rights organizations; independent… Read more

708. What constitutes “humanitarian projects” for generally authorized transactions, including travel-related transactions?

708 … Section 515.575 of the CACR contains a general license that authorizes, subject to conditions, transactions, including travel-related transactions, that are related to humanitarian projects in or related to Cuba. These authorized humanitarian projects are: medical and health-related projects… Read more

709. What constitutes “activities of private foundations or research or educational institutes” for generally authorized travel?

709 … Section 515.576 of the CACR contains a general license that authorizes, subject to conditions, travel-related transactions and other transactions that are directly incident to activities by private foundations or research or educational institutes with an established interest in international… Read more

710. What constitutes “exportation, importation, or transmission of information or informational materials” for generally authorized travel?

710 … The general license at 31 CFR § 515.545(b)(1) authorizes, subject to conditions, travel-related transactions and other transactions that are directly incident to the exportation, importation, or transmission of information or informational materials. In accordance with NSPM-5, OFAC amended… Read more

711. What are examples of a full-time schedule of activities for authorized travelers?

711 … Authorized travelers to Cuba pursuant to most general license categories are expected to maintain a full-time schedule of activities consistent with the terms of the general license(s) pursuant to which they are traveling. For example: An individual traveling to Cuba for four days pursuant to… Read more

712. Can I purchase a ticket to Cuba directly from an airline based or operating out of the United States?

712 … Yes, provided that you are authorized to travel to Cuba pursuant to an OFAC general or specific license. Airlines and travelers are responsible for maintaining records of their Cuba-related transactions for at least five years. … Can I purchase a ticket to Cuba directly from an airline based… Read more

713. May a person that qualifies for the general license to provide carrier services transport a third-country national located in the United States to Cuba for travel authorized by a general license under one of the 12 categories of travel listed in Section 515.560 or by specific license from OFAC?

713 … Yes. … May a person that qualifies for the general license to provide carrier services transport a third-country national located in the United States to Cuba for travel authorized by a general license under one of the 12 categories of travel listed in Section 515.560 or by specific license… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence