OFAC Annual Blocked Property Report Checklist

Summary

This checklist discusses blocked transaction reporting by a financial institution or other organization, as required by U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), including an overview of reporting obligations, the requirement and preparation of 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.