On July 2, 2018, OFAC issued a recent actions notice 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 September 30.
The annual reports must be filed using Form TD F 90-22.50, Annual Report of Blocked Property (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, View OFAC’s Guidance on Filing the ARBP.