Yes. Section 510.511 of the North Korea Sanctions Regulations authorizes U.S. depository institutions (including banks), U.S.-registered brokers or dealers in securities, and U.S.-registered money transmitters to process non-commercial, personal remittances to or from North Korea, or for or on behalf of an individual ordinarily resident in North Korea, up to a maximum of $5,000 per year. Such transactions do not require further authorization from OFAC. This general license does not authorize any transactions by, to, or through a financial institution blocked pursuant to the Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 C.F.R. part 544, or the Global Terrorism Sanctions Regulations, 31 C.F.R. part 594, or any person whose property and interests in property are blocked pursuant to any part of 31 C.F.R. chapter V other than part 510.
March 1, 2018