DATE: May 3, 2007
REAFFIRMED: September 8, 2011
SUBJECT: Delegation of Authority to the Internal Revenue Service to Conduct Compliance Reviews for Compliance with Economic Sanctions Programs
- Pursuant to authority vested in the Secretary of the Treasury by 31 U.S.C. § 321 and the authority delegated to the Under Secretary, Office of Terrorism and Financial Intelligence (“Under Secretary”) by Treasury Order 105-17, I hereby delegate to the Commissioner of Internal Revenue (“Commissioner”) the authority of the Office of Foreign Assets Control (“OFAC”) to investigate and review for compliance with economic sanctions programs persons that the Internal Revenue Service (“IRS”) has the authority to examine for compliance with the Bank Secrecy Act provisions in Title 31 (31 U.S.C. § 5311 et seq.).
- The authority to investigate and review includes, but is not limited to, the authority to compel the production of documents and information and otherwise to examine a person’s compliance with OFAC-administered economic sanctions.
- REDELEGATION. The Commissioner may redelegate this authority in writing.
- NONEXCLUSIVE DELEGATION.
- This delegation does not limit the authority of the Director of OFAC, under any law, regulation or other delegation, including the authority to investigate possible violations of economic sanctions, to impose civil penalties for such violations, and to determine the most effective means to examine persons for compliance with economic sanctions programs.
- This delegation does not limit the authority of the Commissioner under any law, regulation or other delegation.
- RATIFICATION. To the extent that any action heretofore taken consistent with this Directive may require ratification, it is hereby approved and ratified.
- DEFINITION. “Economic sanctions.” The economic sanctions programs that OFAC has the delegated authority to administer and enforce include, but are not limited to, sanctions established under the Trading with the Enemy Act of 1917, as amended (codified at 50 U.S.C. App. §§ 1-44), the International Emergency Economic Powers Act, as amended (codified at 50 U.S. C. §§ 1701-1706), the United Nations Participation Act, as amended (codified at 22 U.S.C. § 287c), and the Foreign Narcotics Kingpin Designation Act (codified at 21 U.S.C. §§ 1901-1908).
- 31 U.S.C. § 313.
- Treasury Order 105-17 (April 28, 2004).
- Treasury Order 101-05 (May 17, 2002).
- OFFICES OF PRIMARY INTEREST. Office of Terrorism and Financial Intelligence, Office of Foreign Assets Control and the Internal Revenue Service
Stuart A. Levey
Under Secretary of the Treasury
Office of Terrorism and Financial Intelligence