Frequently Asked Questions

343 … Yes.  Section 560.540 of the ITSR authorizes the exportation, reexportation, or provision to Iran and the importation into the United States by an individual entering the United States directly or indirectly from Iran, of hardware and software authorized by paragraphs 31 CFR § 560.540(a) (2)… Read more

742 … Depository institutions, as defined in 31 CFR § 515.333 , which include certain financial institutions other than banks, are permitted to open correspondent accounts at banks in Cuba. See 31 CFR § 515.584(a) . … Are financial institutions other than banks permitted to open correspondent… Read more

743 … No. U.S. depository institutions are permitted to open correspondent accounts at Cuban banks located in Cuba and in third countries, and at foreign banks located in Cuba, but Cuban banks are not generally licensed to open such accounts at U.S. banks. See note to 31 CFR § 515.584(a) . … Are… Read more

744 … Yes. Correspondent accounts of depository institutions (as defined in 31 CFR § 515.333 ) at a financial institution that is a national of Cuba authorized pursuant to § 515.584 (a) may be established and maintained in U.S. dollars. Such accounts may be used only for transactions that are… Read more

745 … Yes.  Pursuant to section 515.571(a)(5) of the CACR, banking institutions are permitted to maintain accounts for certain Cuban nationals present in the United States in a non-immigrant status or pursuant to other non-immigrant travel authorization.  Although the account may remain open while… Read more

746 … Cuban nationals lawfully present in the United States in a non-immigrant status or pursuant to another non-immigrant travel authorization issued by the U.S. government may receive any salary or other compensation consistent with the individual’s non-immigrant status or applicable non-… Read more

747 … Section 515.585 of the CACR contains a general license that authorizes all persons subject to U.S. jurisdiction to provide goods and services to Cuban national individuals located in a third country, provided that the transaction does not involve commercial exportation to or from Cuba.… Read more

748 … Yes.  Section 515.584(h)(1) of the CACR contains a general license that allows banking institutions to open and maintain bank accounts in the United States solely in the name of a Cuban national located in Cuba, to receive payments in the United States for transactions authorized pursuant to… Read more

749 … Certain Cuban nationals who have taken up residence in the United States on a permanent basis and who meet the requirements set forth in 31 CFR § 515.505(a) are licensed as unblocked nationals, and may participate fully in the U.S. financial system. See 31 CFR §§ 515.505(a)(1) and (d) .… Read more

750 … No. If a Cuban national has taken up residence in the United States and has applied to become a lawful permanent resident alien of the United States and has an adjustment of status application pending, then the Cuban national is considered unblocked and does not need to apply to OFAC to be… Read more