source:
  type: regulation
  id: ofac-31cfr-501.604
  authority: 31 CFR Part 501 — OFAC Reporting, Procedures & Penalties § 501.604 — Reports of rejected transactions
  description: '31 CFR Part 501 — OFAC Reporting, Procedures & Penalties, §501.604 Reports of rejected transactions.
    Captured section-complete (all subsections verbatim).

    '
obligations:
- id: ofac-31cfr-501.604-a
  canonical_id: ofac-31cfr-501.604-a
  section: 31 CFR §501.604(a)
  description: 'Reports of rejected transactions — (a): (a) Who must report &#x2014;(1) Persons rejecting transactions.
    Any U.S. person (or person subject to U.S. jurisdiction in the case of part 515 of this chapter), including
    a financial institution, that rejects a transaction that is not blocked under the provisions of this chapter,
    but where processi…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 501 — OFAC Reporting, Procedures & Penalties § 501.604
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-501
    snapshot_id: c9c9111079356bbf
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:d0aa2950a271b3c3c670ca3353bebd86ab20c73ee22ecf0990a8a73a55762abe
    paragraph_quote: (a) Who must report &#x2014;(1) Persons rejecting transactions. Any U.S. person (or person
      subject to U.S. jurisdiction in the case of part 515 of this chapter), including a financial institution,
      that rejects a transaction that is not blocked under the provisions of this chapter, but where processing
      or engaging in the transaction would nonetheless violate a provision contained in this chapter, shall submit
      a report to the Office of Foreign Assets Control (OFAC). (2) Financial institution. For purposes of this section,
      the term &#x201C;financial institution&#x201D; includes a banking institution, domestic bank, United States
      depository institution, financial institution, or U.S. financial institution, as those terms are defined in
      the applicable part of this chapter. (3) Transaction. The term transaction for purposes of this section includes
      wire transfers, trade finance, transactions related to securities, checks, or foreign exchange, and sales
      or purchases of goods or services.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §501.604 subsection (a) from snapshot c9c9111079356bbf;
      substring-verified.
  judgment: false
- id: ofac-31cfr-501.604-b
  canonical_id: ofac-31cfr-501.604-b
  section: 31 CFR §501.604(b)
  description: 'Reports of rejected transactions — (b): (b) Required information to be reported. Reports of rejected
    transactions shall include the following information, to the extent the information is available to the person
    submitting the report at the time the transaction is rejected: (1) The name and address of the person that rejected
    the transact…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 501 — OFAC Reporting, Procedures & Penalties § 501.604
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-501
    snapshot_id: c9c9111079356bbf
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:d0aa2950a271b3c3c670ca3353bebd86ab20c73ee22ecf0990a8a73a55762abe
    paragraph_quote: '(b) Required information to be reported. Reports of rejected transactions shall include the
      following information, to the extent the information is available to the person submitting the report at the
      time the transaction is rejected: (1) The name and address of the person that rejected the transaction pursuant
      to this chapter ( i.e., the person filing the report on the rejected transaction, such as a financial institution),
      and the name and telephone number of a contact from whom additional information may be obtained; (2) A description
      of the rejected transaction, including the type of transaction; any persons, including financial institutions,
      participating in the transaction and their respective locations ( e.g., customers, beneficiaries, originators,
      letter of credit applicants, and their banks; intermediary banks; correspondent banks; issuing banks; and
      advising or confirming banks); a description of the property that is the subject of the transaction; and any
      reference numbers, account numbers, dates, or other information necessary to identify the transaction; (3)
      If applicable, the associated sanctions target(s) whose involvement in the transaction has resulted in the
      transaction being rejected, the location(s) of the associated sanctions target(s), if known, and, if not evident,
      a narrative description of the interest(s) of the target(s) in the transaction; (4) The date the transaction
      was rejected; (5) The actual, or if unknown, estimated value of the property in U.S. Dollars. Rejected trade
      documents should be reported as $0.00 (zero) with the value of the shipment reflected in a narrative description.
      Rejected transactions in foreign currencies must be reported in U.S. Dollars with the foreign currency amount
      and notional exchange rate in a narrative description; (6) The legal authority or authorities under which
      the transaction was rejected. This may include a reference to the sanctions program (current programs are
      listed here: https://ofac.treasury.gov ), the applicable part of this chapter (e.g., 31 CFR part 515, 31 CFR
      part 544), an Executive Order (E.O.) (e.g., E.O. 13224, E.O. 13599), or a statute (e.g., Foreign Narcotics
      Kingpin Designation Act). (Note: For this purpose, the term &#x201C;SDN&#x201D; is generic and cannot be used
      to identify the legal authority or authorities for rejecting transactions); and (7) A copy of any related
      payment or transfer instructions, check, letter of credit, accompanying bill of lading, invoice, or any other
      relevant documentation received in connection with the transaction.'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §501.604 subsection (b) from snapshot c9c9111079356bbf;
      substring-verified.
  judgment: false
- id: ofac-31cfr-501.604-c
  canonical_id: ofac-31cfr-501.604-c
  section: 31 CFR §501.604(c)
  description: 'Reports of rejected transactions — (c): (c) When reports are due. Reports shall be filed within
    10 business days of the rejected transaction prohibited by the provisions of this chapter.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 501 — OFAC Reporting, Procedures & Penalties § 501.604
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-501
    snapshot_id: c9c9111079356bbf
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:d0aa2950a271b3c3c670ca3353bebd86ab20c73ee22ecf0990a8a73a55762abe
    paragraph_quote: (c) When reports are due. Reports shall be filed within 10 business days of the rejected transaction
      prohibited by the provisions of this chapter.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §501.604 subsection (c) from snapshot c9c9111079356bbf;
      substring-verified.
  judgment: false
- id: ofac-31cfr-501.604-d
  canonical_id: ofac-31cfr-501.604-d
  section: 31 CFR §501.604(d)
  description: 'Reports of rejected transactions — (d): (d) Where to report. Reports under this section shall be
    submitted to OFAC through the OFAC Reporting System, available on OFAC''s website, https://ofac.treasury.gov/ofac-reporting-system.
    If a submitter can provide evidence of unique and extraordinary circumstances that would not allow the submitter…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 501 — OFAC Reporting, Procedures & Penalties § 501.604
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-501
    snapshot_id: c9c9111079356bbf
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:d0aa2950a271b3c3c670ca3353bebd86ab20c73ee22ecf0990a8a73a55762abe
    paragraph_quote: (d) Where to report. Reports under this section shall be submitted to OFAC through the OFAC
      Reporting System, available on OFAC's website, https://ofac.treasury.gov/ofac-reporting-system. If a submitter
      can provide evidence of unique and extraordinary circumstances that would not allow the submitter to use ORS,
      such as lack of access to the internet, the submitter may request to submit reports in an alternative manner
      by calling 202/622-2490. Such requests will be subject to a presumption of denial and granted only in writing.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §501.604 subsection (d) from snapshot c9c9111079356bbf;
      substring-verified.
  judgment: false
- id: ofac-31cfr-501.604-e
  canonical_id: ofac-31cfr-501.604-e
  section: 31 CFR §501.604(e)
  description: 'Reports of rejected transactions — (e): (e) Rules governing availability of information. Information
    submitted to OFAC pursuant to this section will be protected from disclosure under the Freedom of Information
    Act (FOIA) (5 U.S.C. 552) and the provisions of 31 CFR part 1 if OFAC reasonably foresees that disclosure would
    harm an interest …'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 501 — OFAC Reporting, Procedures & Penalties § 501.604
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-501
    snapshot_id: c9c9111079356bbf
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:d0aa2950a271b3c3c670ca3353bebd86ab20c73ee22ecf0990a8a73a55762abe
    paragraph_quote: (e) Rules governing availability of information. Information submitted to OFAC pursuant to
      this section will be protected from disclosure under the Freedom of Information Act (FOIA) (5 U.S.C. 552)
      and the provisions of 31 CFR part 1 if OFAC reasonably foresees that disclosure would harm an interest protected
      by a FOIA exemption or disclosure is prohibited by law. See 31 CFR 1.5 for additional provisions relating
      to confidential commercial information. [84 FR 29060, June 21, 2019, as amended at 89 FR 15740, Mar. 5, 2024;
      89 FR 40376, May 10, 2024]
    drafter_attestation: Verbatim (whitespace-normalized) slice of §501.604 subsection (e) from snapshot c9c9111079356bbf;
      substring-verified.
  judgment: false
