On June 20, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued a final interim rule amending its Reporting, Procedures and Penalties Regulations, which set forth the standard reporting and recordkeeping requirements, license application, and other procedures relevant to the economic sanctions programs administered by OFAC. Among other things, the final interim rule: (i) expands the information that must be included in reports on blocked property and rejected transactions; (ii) includes details on the information that must be included when OFAC requires a report that property has been unblocked; (iii) revises procedures for (a) reporting on rejected transactions; (b) licensing of otherwise prohibited transactions; and (c) releasing blocked funds; and (iv) clarifies rules governing the availability of information under the Freedom of Information Act. Importantly, the revisions clarify that all U.S. persons must report transactions that have been rejected for sanctions compliance reasons. Previously, the requirement was thought to apply only to U.S. financial institutions. The final interim rule will take effect upon publication in the Federal Register, which is scheduled for June 21.