New FATCA FAQs for OFAC SDN Listed Entities

IRS FATCA Registration Update

Q6. The entity I represent is on the Office of Foreign Asset Control's Specially Designated Nationals list.  Is the entity eligible to register and receive a GIIN?

No.  For more information, please contact the Office of Foreign Asset Control at 1-800-540-6322, or refer to the OFAC website.

Q7.  What is the Office of Foreign Asset Control's Specially Designated Nationals (SDN) list?
As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called "Specially Designated Nationals" or "SDNs." Their assets are blocked and U.S. persons are  prohibited from dealing with them.