📄OFAC Sanctions Reconsideration Portal
Agency Information Collection Activities; Proposed Collection; Comment Request; Office of Foreign Assets Control Reporting, Procedures and Penalties Regulations Sanctions Reconsideration Portal
Summary
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a proposed information collection, as required by the Paperwork Reduction Act of 1995. Currently, the Office of Foreign Assets Control (OFAC) within the Department of the Treasury is soliciting comments concerning a proposal to add an electronic Sanctions Reconsideration Portal information collection within OFAC's Reporting, Procedures and Penalties Regulations.
Agencies
- Treasury Department
- Foreign Assets Control Office
Business Impact
$$$ - High
The proposed collection concerning the Sanctions Reconsideration Portal impacts businesses potentially facing OFAC sanctions. Business owners must be aware of compliance requirements regarding the collection process and the operational implications of petitioning for reconsideration under sanctions regulations.