---
kind: "section"
citation: "31 C.F.R. § 587.405"
title: "31"
number: "587.405"
heading: "Setoffs prohibited."
url: "https://uscodex.org/cfr/31/587.405"
---

# §587.405. 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 [§ 587.201](/cfr/31/587.201.md) if effected after the effective date.


## Notes

### Authority

Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601 et seq., 1701 et seq.; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 14024, 86 FR 20249, 3 CFR, 2021 Comp., p. 542.

### Source

Source: 87 FR 11297, Mar. 1, 2022, unless otherwise noted.