OFAC Issues Reminder to Submit Annual Blocked Property Report

the Treasury's Office of Foreign Assets Control issued a reminder for all “holders of blocked property” to submit their Annual Report of Blocked Property by Sept. 30, OFAC said in a July 2 notice. The list should contain all blocked property held as of June 30, 2019, the notice said. Blocked property is that which is blocked "pursuant to OFAC regulations." The reports must be filed using OFAC’s new form TD-F 90-22.50, which is available for download in the notice. Those who do not submit required forms are subject to violations in OFAC's Reporting, Procedures and Penalties Regulations.