---
kind: "section"
citation: "31 C.F.R. § 597.503"
title: "31"
number: "597.503"
heading: "Payments and transfers to blocked accounts in U.S. financial institutions."
url: "https://uscodex.org/cfr/31/597.503"
---

# §597.503. Payments and transfers to blocked accounts in U.S. financial institutions.

- (a) Any payment of funds or transfer of credit or other financial or economic resources or assets by a financial institution into a blocked account in a U.S. financial institution is authorized, provided that a transfer from a blocked account pursuant to this authorization may only be made to another blocked account held in the same name on the books of the same U.S. financial institution.
- (b) This section does not authorize any transfer from a blocked account within the United States to an account held outside the United States.

## Notes

### Authority

Authority: 8 U.S.C. 1189; 18 U.S.C. 2339B; 31 U.S.C. 321(b); Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note).

### Source

Source: 62 FR 52495, Oct. 8, 1997, unless otherwise noted.