Financial institutions are required to submit reports of rejected and blocked transactions to OFAC within 10 business days following the action.  These reports must include details of the rejected or blocked transactions, such as the parties, accounts involved, and date and amount of payment.  Additionally, annual reports on blocked property must be filed with OFAC by September 30th of each year.1


1 31 CFR §§ 501.603-.604.

You are currently offline.