1. Regulations
  2. title 31
  3. chapter V
  4. part 528
  5. subpart D
  6. § 528.405

View all text of Subpart D [§ 528.401 - § 528.406]

§ 528.405 - 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 § 528.201 if effected after the effective date.

AUTHORITY: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; 28 U.S.C. 2461 note (Pub. L. 101-410, 104 Stat. 890, as amended); E.O. 14203, 90 FR 9369.

SOURCE: 90 FR 28013, July 1, 2025, unless otherwise noted.

CITE AS: 31 CFR 528.405