U.S. OFAC amends guidance on blocking and rejecting transactions, filing reports
Updates address 11 FAQs concerning sanctions programs, blocked property, rejected transactions, and reporting requirements.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on October 26, 2026, amended 11 Frequently Asked Questions (FAQs) as part of its ongoing review of published guidance so that information remains current.
The amended FAQs address:
- FAQ 10: Jurisdictions or countries subject to U.S. sanctions
- FAQ 32: Blocking an account or funds transfer
- FAQ 33: Interest required on blocked funds
- FAQ 34: Service charges deducted from blocked accounts
- FAQ 35: OFAC programs that do and do not involve blocking property
- FAQ 36: When to reject rather than block a transaction
- FAQ 41: Notification to customers when property is blocked
- FAQ 42: Account openings and transactions involving blocked persons
- FAQ 49: Timing and procedures for reporting blocked property and rejected transactions
- FAQ 50: Required format for Annual Reports of Blocked Property
- FAQ 53: Distinguishing a customer inquiry from a payment instruction