Persons Providing Remittance Forwarding Services

The information collected is used by OFAC to implement its compliance and enforcement programs pursuant to the Regulations, including with respect to whether remitters are exceeding the restrictions on the frequency, payees, and dollar amounts of remittances. Specifically, banking institutions providing remittance forwarding services are required to collect from persons who use such services a certification indicating the relevant remittance provisions of the Regulations. Such banking institutions will retain this information on file for five years, subject to audit by the U.S. Department of the Treasury for compliance, civil penalty, and enforcement purposes. Specifically, the information may be requested by OFAC to verify that persons sending remittances to Cuba were licensed by OFAC to do so and facilitate OFAC's addressing of potential violations of the Regulations.

The latest form for Persons Providing Remittance Forwarding Services expires 2022-12-31 and can be found here.