OFAC Launches New Voluntary Self-Disclosure Portal
On February 6th, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) launched a new Voluntary Self‑Disclosure Portal, providing a streamlined and secure way for organizations and individuals to report potential sanctions violations. The portal replaces prior email-based submissions.
The new portal reinforces OFAC’s expectations around early identification, prompt escalation, and good‑faith engagement. For companies operating across borders or in sanctions-sensitive sectors, this development is a reminder to ensure internal compliance, investigation, and reporting frameworks are both well-documented and operationally ready.
Best practices:
• Act promptly. Disclose before any government inquiry or third-party reporting.
• Be clear. Provide a complete narrative of the apparent violation and all relevant parties.
• Cooperate. Be responsive to OFAC follow-up requests.
• Mitigate. Document remedial actions and enhancements to any sanction compliance program.
• File a report. Submit a detailed follow-up report within expected timeframes (generally up to 180 days if not included initially).
The current administration has been issuing frequent updates to the sanctions lists maintained on OFAC’s website. These changes can have immediate compliance implications for businesses and individuals operating in regulated markets. Our law firm is closely monitoring each update as it is released and will be providing a series of alerts and analyses to help clients understand and respond to these evolving requirements.
Being aware of these changes and making voluntary self-disclosures is imperative. Timely disclosures have been a critical mitigating factor in OFAC enforcement and can significantly reduce (or eliminate) civil or criminal penalties. At Ward and Berry, PLLC, we regularly advise clients on sanctions compliance, internal investigations, and voluntary self‑disclosure strategy. The launch of this portal underscores the importance of thoughtful preparation and experienced counsel when engaging with OFAC.
Link to the portal here: https://ofac.treasury.gov/disclosure