31 CFR 548.410 - Setoffs prohibited.

Regulations last checked for updates: Nov 25, 2024

Title 31 - Money and Finance: Treasury last revised: Nov 18, 2024

View all text of Subpart D [§ 548.401 - § 548.411]

§ 548.410 - Setoffs prohibited.

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 § 548.201 if effected after the effective date.

authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651,1701; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13405, 71 FR 35485, 3 CFR, 2006 Comp., p. 231; E.O. 14038, 86 FR 43905, 3 CFR, 2021 Comp., p. 626

source: 88 FR 18039, Mar. 27, 2023, unless otherwise noted.

cite as: 31 CFR 548.410