OFAC Recordkeeping Rule Final: 5 to 10 Years

Posted 3/21/25

The Office of Foreign Assets Control (OFAC) has finalized a rule extending the recordkeeping period under 31 CFR parts 501 and 515 from five to ten years. This change aligns with the amended statute of limitations for civil and criminal violations under the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA), as enacted in Section 3111 of the 21st Century Peace through Strength Act.

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