What must holders of blocked property file annually by September 30th?

Holders of blocked property are required to file an annual report on blocked property by September 30th. This report is essential for providing the Office of Foreign Assets Control (OFAC) with details about any property that has been blocked under the regulations. The timely submission of this report helps ensure compliance with the Bank Secrecy Act and related sanctions programs, allowing the government to monitor and evaluate blocked assets effectively.

This annual report serves multiple purposes, including facilitating the government's oversight of frozen assets and ensuring that holders are accurately reporting the status and management of such properties. It ultimately contributes to the transparency and accountability needed in financial transactions subject to such regulations.