1. Regulations
  2. title 31
  3. chapter V
  4. part 516
  5. subpart D
  6. § 516.405

View all text of Subpart D [§ 516.401 - § 516.406]

§ 516.405 - 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 § 516.201 if effected after the effective date.

AUTHORITY: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601

SOURCE: 91 FR 61749, Sept. 30, 2026, unless otherwise noted.

CITE AS: 31 CFR 516.405