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OFAC Reviewing Application for Release of Blocked Funds

Thursday, October 08, 2015
Sandler, Travis & Rosenberg Trade Report

The Treasury Department’s Office of Foreign Assets Control is accepting through Dec. 7 comments on the proposed extension without change of form TD-F 90-22.54, the Application for Release of Blocked Funds.

Transactions prohibited pursuant to the Trading With the Enemy Act, the International Emergency Economic Powers Act and other authorities may be authorized by means of specific licenses issued by OFAC. Such licenses are issued in response to applications submitted by persons whose property and interests in property have been blocked or who wish to engage in transactions that would otherwise be prohibited. This form, which has been mandatory since February 2000, provides a standardized method of submitting such applications and thus facilitates and speeds both applicants submissions and OFAC processing.

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