Federal regulations · Through 2026-08-25 · Newer source version available

31 CFR 597.503: Payments and transfers to blocked accounts in U.S. financial institutions.

Where this section sits in the code

Title 31—Money and Finance: Treasury
Subtitle B—Regulations Relating to Money and Finance
CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
PART 597—FOREIGN TERRORIST ORGANIZATIONS SANCTIONS REGULATIONS
Subpart E—Licenses, Authorizations, and Statements of Licensing Policy

(a) Any payment of funds or transfer of credit or other financial or economic resources or assets by a financial institution into a blocked account in a U.S. financial institution is authorized, provided that a transfer from a blocked account pursuant to this authorization may only be made to another blocked account held in the same name on the books of the same U.S. financial institution.

(b) This section does not authorize any transfer from a blocked account within the United States to an account held outside the United States.

Note to § 597.503:

Please refer to §§ 501.603 and 597.601 of this chapter for mandatory reporting requirements regarding financial transfers.

Collected 2026-08-27T02:25:25Z. Source file · JSON

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