OFAC Annual Blocked Property Report Checklist

Summary

This checklist discusses blocked transaction reporting by a financial institution or other organization, as required by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC). It includes an overview of reporting obligations, how to prepare an annual report, the potential benefits of the annual reporting process, the penalties for late filings or failure to file, and guidance related to OFAC enforcement and holder compliance risk.