31 CFR 579.405 - Setoffs prohibited.

Regulations last checked for updates: May 01, 2025

Title 31 - Money and Finance: Treasury last revised: Apr 15, 2025

View all text of Subpart D [§ 579.401 - § 579.406]

§ 579.405 - 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 § 579.201 if effected after the effective date.

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

source: 84 FR 17951, Apr. 29, 2019, unless otherwise noted.

cite as: 31 CFR 579.405