Statutes, codes, and regulations
Code of Federal Regulations
Title 31 - MONEY AND FINANCE: TREASURYSubtitle B - REGULATIONS RELATING TO MONEY AND FINANCEChapter V - OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURYPart 501 - REPORTING, PROCEDURES AND PENALTIES REGULATIONS
Subpart C - REPORTS
Section 501.601 - Records and recordkeeping requirements

31 C.F.R. § 501.601

Download
PDF
Current through May 31, 2024
Section 501.601 - Records and recordkeeping requirements

Except as otherwise provided, every person engaging in any transaction subject to the provisions of this chapter shall keep a full and accurate record of each such transaction engaged in, regardless of whether such transaction is effected pursuant to license or otherwise, and such record shall be available for examination for at least 5 years after the date of such transaction. Except as otherwise provided, every person holding property blocked pursuant to the provisions of this chapter or funds transfers retained pursuant to § 596.504(b) of this chapter shall keep a full and accurate record of such property, and such record shall be available for examination for the period of time that such property is blocked and for at least 5 years after the date such property is unblocked.

31 C.F.R. §501.601

62 FR 45101, Aug. 25, 1997, as amended at 62 FR 52494, Oct. 8, 1997

See subpart F of part 597 for the relationship between this section and part 597.