§528.405. Setoffs prohibited.
31 C.F.R. § 528.405
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.
Notes, amendments, and revision history
Authority
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
Source: 90 FR 28013, July 1, 2025, unless otherwise noted.