On July 1, 2022, the OFAC issued a reminder to holders of blocked property to provide the office with a comprehensive list of all blocked property held as of June 30 of the current year by September 30, pursuant to the Reporting, Procedures and Penalties Regulations. OFAC emphasizes that persons that do not hold blocked property as of June 30 do not need to file an Annual Report of Blocked Property.

Persons filing the 2022 ARBP are required to utilize a spreadsheet provided by OFAC and file it through the OFAC Reporting System or sent to OFACreport@treasury.gov.

Read the OFAC’s release here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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