OFAC itself does not seize or hold blocked funds. To comply with U.S. sanctions regulations administered by OFAC, U.S. financial institutions are required to block or "freeze" certain property (e.g., funds, accounts) in their possession or control and report such blocked property to OFAC. Even though property blocked pursuant to OFAC-administered sanctions is not held by OFAC (or other offices of the U.S. Department of the Treasury), authorization from OFAC is required for U.S. financial institutions to release such blocked property.
If you believe your funds or other property have been blocked due to OFAC-administered sanctions and you want the funds released (i.e., unblocked), you should first contact your financial institution to confirm the funds are in fact blocked pursuant to OFAC-administered sanctions. You may want to ask to speak to someone who handles sanctions compliance for the bank, likely in the bank's headquarters rather than at a branch.
If confirmed, OFAC encourages you to file a specific license application via the OFAC Specific Licenses and Interpretive Guidance page on OFAC's website. To complete this application, you will also need your financial institution to identify the financial institution—which may be different than yours—that filed the required blocking report with OFAC. OFAC generally does not process requests for the release of blocked funds where a corresponding blocking report has not been filed.
You also will need to provide a detailed description of the funds that are blocked, the names and addresses of any persons involved in the transaction or possession of the funds, and copies of supporting documentation (e.g., payment or funds transfer instructions). For further information on specific licenses, including how to apply for one, please see 31 CFR § 501.801, the OFAC Specific Licenses and Interpretive Guidance page on OFAC's website, and FAQ 74.
For more information on blocked funds, please see "My Funds are Blocked, Now What?" on the OFAC Video Series page on OFAC's website.
Date Updated: September 9, 2026