31 CFR 552.504

§ 552.504 Payments and transfers to blocked accounts in U.S. financial institutions.

United States · 31 CFR — Money and Finance: Treasury · Status: effective

Cite this

Citation: 31 CFR 552.504, § 552.504 Payments and transfers to blocked accounts in U.S. financial institutions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/142003
Permanent ID: ys:prov:142003@1
SHA-256: 2a3b525a5488e2f1a8e680805cf522c9a6e6cd76ed5217e54fab804f4a6e928e

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Full text

Any payment of funds or transfer of credit in which a person whose property and interests in property are blocked pursuant to § 552.201 has any interest that comes within the possession or control of a U.S. financial institution must be blocked in an account on the books of that financial institution. A transfer of funds or credit by a U.S. financial institution between blocked accounts in its branches or offices is authorized, provided that no transfer is made from an account within the United States to an account held outside the United States, and further provided that a transfer from a blocked account may be made only to another blocked account held in the same name. See § 501.603 of this chapter for mandatory reporting requirements regarding financial transfers. See also § 552.203 concerning the obligation to hold blocked funds in interest-bearing accounts.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.