31 CFR § 597.503

31 CFR · Money and Finance: Treasury

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

31 CFR § 597.503

TitleTitle 31: Money and Finance: Treasury PartPart 597: Foreign Terrorist Organizations Sanctions Regulations

SourceeCFR (current through Mar 30, 2026)

This text of 31 C.F.R. § 597.503 (Payments and transfers to blocked accounts in U.S. financial institutions.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

31 C.F.R. § 597.503 (2026).

Text

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

(a)Any payment of funds or transfer of credit or other financial or economic resources or assets by a financial institution into a blocked account in a U.S. financial institution is authorized, provided that a transfer from a blocked account pursuant to this authorization may only be made to another blocked account held in the same name on the books of the same U.S. financial institution.

(b)This section does not authorize any transfer from a blocked account within the United States to an account held outside the United States. Note to § 597.503: Please refer to §§ 501.603 and 597.601 of this chapter for mandatory reporting requirements regarding financial transfers.

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

(a) Any payment of funds or transfer of credit or other financial or economic resources or assets by a financial institution into a blocked account in a U.S. financial institution is authorized, provided that a transfer from a blocked account pursuant to this authorization may only be made to another blocked account held in the same name on the books of the same U.S. financial institution.

(b) This section does not authorize any transfer from a blocked account within the United States to an account held outside the United States.

Note to § 597.503:

Please refer to §§ 501.603 and 597.601 of this chapter for mandatory reporting requirements regarding financial transfers.