Regulatory Alerts2025-03-21 | 2025-04864Reporting, Procedures and Penalties Regulations
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) issues this final rule to adopt without change an interim final rule amending the Reporting, Procedures and Penalties Regulations. The amendment extends certain recordkeeping requirements from five to ten years to align with the statute of limitations for civil and criminal violations of sanctions administered by OFAC. This change implements Section 3111 of the 21st Century Peace through Strength Act and applies to regulations codified at 31 CFR Parts 501 and 515.
Share