31 CFR 560.603 - Reports on oil transactions engaged in by foreign affiliates.

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§ 560.603 Reports on oil transactions engaged in by foreign affiliates.
(a) Requirement for reports. A report must be filed with the Office of Foreign Assets Control with respect to each foreign affiliate of a United States person that engaged in a reportable transaction, as defined in paragraph (b) of this section, during the calendar quarter. Reports are due within 60 days after the end of each calendar quarter.
(b) Definitions. For purposes of this section:
(1) The term reportable transaction means any purchase, sale, or swap of Iranian-origin crude oil or natural gas. For purposes of this paragraph (b), a purchase, sale, or swap is deemed to have occurred as of the date of the bill of lading used in connection with such transaction.
(2) The term foreign affiliate means a person or entity other than a United States person (see § 560.314) which is organized or located outside the United States and which is owned or controlled by a United States person or persons.
(c) Who must report. A United States person must file a report with respect to each foreign affiliate owned or controlled by it which engaged in a reportable transaction or transactions during the calendar quarter. For the calendar quarter beginning October 1, 1996, and all subsequent quarters, a United States person must file a report only as to each foreign affiliate owned or controlled by it which engaged in a reportable transaction or transactions totaling $1,000,000 or more during the calendar quarter. A single United States entity within a consolidated or affiliated group may be designated to report on each foreign affiliate of the United States members of the group. Such centralized reporting may be done by the United States person who owns or controls, or has been delegated authority to file on behalf of, the remaining United States persons in the group.
(d) What must be reported.
(1) Part I of the report must provide the name, address, and principal place of business of the United States person; its place of incorporation or organization if an entity; and the name, title, and telephone number of the individual to contact concerning the report.
(2) Part II of the report must provide, with respect to the foreign affiliate, its name and address; the type of entity, e.g, corporation, partnership, limited liability company; the country of its incorporation or organization; and its principal place of business.
(3) Part III of the report must include the following information with respect to each reportable transaction (a separate Part III must be submitted for each reportable transaction):
(i) The nature of the transaction, e.g., purchase, sale, swap;
(ii) A description of the product involved;
(iii) The name of the Iranian or third country party or parties involved in the transaction;
(iv) The currency and amount of the transaction, and corresponding United States dollar value of the transaction if not denominated in United States dollars.
(e) Where to report. Reports must be filed with the Compliance Programs Division, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, NW—Annex, Washington, DC 20220. Reports may be submitted by facsimile transmission at 202/622-1657. A copy must be retained for the reporter's records.
(f) Whom to contact. Blocked Assets Division, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, NW.—Annex, Washington, DC 20220; telephone: 202/622-2440.
[63 FR 62941, Nov. 10, 1998]
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This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
U.S. Code: Title 3 - THE PRESIDENT

§ 2349aa-9

§ 2461 - Exchanges between United States and independent states of the former Soviet Union

§ 2462 - Establishment of grant program for foreign study by American college students of limited financial means

§ 2463 - Allocation of funds transferred to the Bureau of Educational and Cultural Affairs

§ 2464 - Ethical issues in international health research

§ 7201 - Definitions

§ 7202 - Restriction

§ 7203 - Exceptions

§ 7204 - Termination of sanctions

§ 7205 - State sponsors of international terrorism

§ 7206 - Congressional procedures

§ 7207 - Prohibition on United States assistance and financing

§ 7208 - Prohibition on additional imports from Cuba

§ 7209 - Requirements relating to certain travel-related transactions with Cuba

§ 7210 - Application of the Trade Sanctions Reform and Export Enhancement Act

§ 7211 - Technical clarification relating to provision of material support to terrorism

§ 8501 - Findings

§ 8511 - Definitions

§ 8512 - Economic sanctions relating to Iran

§ 8513 - Mandatory sanctions with respect to financial institutions that engage in certain transactions

§ 8513a - Imposition of sanctions with respect to the financial sector of Iran

§ 8514 - Imposition of sanctions on certain persons who are responsible for or complicit in human rights abuses committed against citizens of Iran or their family members after the June 12, 2009, elections in Iran

§ 8515 - Prohibition on procurement contracts with persons that export sensitive technology to Iran

§ 8516 - Authority to implement United Nations Security Council resolutions imposing sanctions with respect to Iran

§ 8517 - Increased capacity for efforts to combat unlawful or terrorist financing

§ 8518 - Reports on investments in the energy sector of Iran

§ 8519 - Reports on certain activities of foreign export credit agencies and of the Export-Import Bank of the United States

§ 8531 - Definitions

§ 8532 - Authority of State and local governments to divest from certain companies that invest in Iran

§ 8541 - Definitions

§ 8542 - Identification of countries of concern with respect to the diversion of certain goods, services, and technologies to or through Iran

§ 8543 - Destinations of Diversion Concern

§ 8544 - Enforcement authority

§ 8551 - General provisions

U.S. Code: Title 31 - MONEY AND FINANCE
Statutes at Large
Presidential Documents

Executive Order ... 12613

Executive Order ... 12957

Executive Order ... 12959

Executive Order ... 13059

Executive Order ... 13599

Executive Order ... 13622

Executive Order ... 13628

Title 31 published on 2015-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR Part 560 after this date.

  • 2015-12-07; vol. 80 # 234 - Monday, December 7, 2015
    1. 80 FR 75957 - Effectiveness of Licensing Procedures for Exportation of Agricultural Commodities, Medicine, and Medical Devices to Sudan and Iran; Comment Request
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of Foreign Assets Control
      Request for comments.
      Written comments should be received on or before January 6, 2016 to be assured of consideration.
      31 CFR Parts 538 and 560