Nathanael Felix Kurcab

Sep 16, 2024 | jdsupra.com | Andrea Delisi |Rachel Fiorill |Nathanael Felix Kurcab

On September 11, 2024, OFAC announced its Interim Final Rule to Extend Recordkeeping Requirements from Five to 10 Years. The Interim Final Rule (IFR) was published in the Federal Register on September 13, 2024. Public comments on the IFR are due by October 13, 2024, following the instructions outlined in the Federal Register notice. Unless the IFR is modified as part of that public comment process, the new requirements set out in the IFR will take effect on March 12, 2025.