OFAC Reporting Requirements
OFAC Reporting Requirements
OFAC reporting requirements mandate that US persons report blocked property, rejected transactions, and certain sanctions-related information to OFAC within specified timeframes. The primary reporting obligations are the blocked property report (within 10 business days of blocking) and the annual report of blocked property (by September 30 each year).
Key reports
- Initial Blocked Property Report: Due within 10 business days of blocking any property or transaction.
- Annual Report of Blocked Property: Due by September 30 each year, covering all blocked property as of June 30.
- Rejected Transaction Report: Required when a transaction is rejected due to sanctions (not blocked — rejected before processing).