1. Regulations
  2. title 31
  3. chapter V
  4. part 598
  5. subpart D
  6. § 598.404

View all text of Subpart D [§ 598.401 - § 598.411]

§ 598.404 - Setoffs prohibited.

A setoff against blocked property (including a blocked account), whether by a U.S. bank or other U.S. person, is a prohibited transfer under § 598.202 if effected after the effective date.

[86 FR 26669, May 17, 2021]

AUTHORITY: 3 U.S.C. 301; 21 U.S.C. 1901-1908; 31 U.S.C. 321(b); Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note).

SOURCE: 65 FR 41336, July 5, 2000, unless otherwise noted.

CITE AS: 31 CFR 598.404