HOW CAN A PERSON GET OFF OF THE OFAC SDN LIST?
THE OFFICE OF FOREIGN ASSETS CONTROL (OFAC) of the U.S. Department of the Treasury manages economic and commercial sanctions based on U.S. foreign policy and national security objectives and implements the necessary procedures. OFAC places individuals and organizations on a list called Specially Designated Nationals And Blocked Persons (SDN) for national security, foreign policy, and SDN sanctions policy purposes.
HOW CAN ONE BE DELISTED FROM THE OFAC SDN LIST?
Filing a Request for Administrative Reconsideration is typically the first step in starting the removal process with OFAC. This request is also called a Petition for Removal and it is likely the most significant filing the applicant will provide to OFAC in any case. The petition may include background facts, legal and policy arguments, and a calculated analysis of why the designated individual or company should be removed from the SDN List. After submitting this petition, OFAC may submit to the applicant a follow-up questionnaire. Whether they do this or not depends on the information they possess relevant to the information and arguments the applicant put in a petition.
EACH YEAR, THE OFAC REMOVES INDIVIDUALS AND ENTITIES FROM ITS SDN LISTS. Reasons for an OFAC delisting include the following arguments and evidence:
- There is an insufficient basis exists for the listing;
- The basis for the listing no longer exists (for example due to a corporate reorganization, the resignation of persons from positions in a blocked entity, or similar steps);
- The OFAC measures have led to a positive change in behavior.
REVIEW TURNAROUND TIME.
The processing time of a removal request to OFAC depends upon a range of factors including (i) whether OFAC needs additional information (ii) how timely and forthcoming the petitioner is in responding to OFAC’s requests and (iii) the facts and circumstances of the specific case.