CFR > Title 31 - Money and Finance: Treasury > SUBTITLE B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY (parts 501 to 598) > PART 595—TERRORISM SANCTIONS REGULATIONS > SUBPART E—Licenses, Authorizations, and Statements of Licensing Policy (§595.500 to §595.515) > 595.503—Payments and transfers to blocked accounts in U.S. financial institutions.

595.503—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 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.

Code of Federal Regulations

Code of Federal Regulations 485
Note to § 595.503 : Please refer to § 501.603 of this chapter for mandatory reporting requirements regarding financial transfers.

Code of Federal Regulations

[61 FR 3806, Feb. 2, 1996, as amended at 62 FR 45111, Aug. 25, 1997]