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31 CFR 587.405

§ 587.405 Setoffs prohibited.

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

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31 CFR 587.405, § 587.405 Setoffs prohibited, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/143182
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Full text

A setoff against blocked property (including a blocked account), whether by a U.S. financial institution or other U.S. person, is a prohibited transfer under § 587.201 if effected after the effective date.

Legislative history

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