Treasury Department, Foreign Assets Control Office
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is adopting a final rule amending multiple CFR parts to update general licenses authorizing payments for legal services from funds originating outside the United States. Specifically, OFAC is replacing the reporting requirement in the general license with a recordkeeping requirement in applicable parts of 31 CFR chapter V. Additionally, in two CFR parts, OFAC is updating the general licenses authorizing the provision of certain legal services and adding a general license authorizing payment for legal services from funds originating outside the United States.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Office of Foreign Assets Control 31 CFR Parts 510, 515, 526, 536, 544, 547, 548, 549, 550, 551, 552, 553, 555, 558, 569, 570, 576, 578, 579, 582, 583, 584, 585, 587, 588, 589, 590, 591, 594, 597, 598, and 599 AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Final rule. SUMMARY: The Department of the Treasury's Office of Foreign Assets Control (OFAC) is adopting a final rule amending multiple CFR parts to update general licenses authorizing payments for legal services from funds originating outside the United States. Specifically, OFAC is replacing the reporting requirement in the general license with a recordkeeping requirement in applicable parts of 31 CFR chapter V . Additionally, in two CFR parts, OFAC is updating the general licenses authorizing the provision of certain legal services and adding a general license authorizing payment for legal services from funds originating outside the United States. DATES: Effective date: This rule is effective December 19, 2024. Applicability date: This rule is applicable on March 12, 2025. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 202-622-4855; or Assistant Director for Compliance, 202-622-2490. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC are available on OFAC's website: https://ofac.treasury.gov . Background Updating Existing General Licenses Autho…
Citation: 89 FR 103641
