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31 CFR § 515.570 - Remittances.

Date issued: Jun. 09 2022

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§ 515.570 Remittances.

(a) Family remittances authorized. Persons subject to the jurisdiction of the United States who are 18 years of age or older are authorized to make remittances to nationals of Cuba who are close relatives, as defined in § 515.339 of this part, of the remitter, provided that:
(1) The remittances are not made from a blocked source. Certain remittances from blocked accounts are authorized pursuant to paragraph (f) of this section;
(2) The recipient is not a prohibited official of the Government of Cuba, as defined in § 515.337, a prohibited member of the Cuban Communist Party, as defined in § 515.338, a close relative, as defined in § 515.339, of a prohibited official of the Government of Cuba, or a close relative of a prohibited member of the Cuban Communist Party; and
(3) The remittances are not made for emigration-related...

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TURBOFAC Commentary (983 words)

Notes:

*This provision was substantially amended in Sept. 2019. The FR Notice introducing the changes described them as follows:

Remittances In accordance with the April 2019 Address, OFAC is amending several authorizations related to remittances set forth in §515.570. OFAC is amending §515.570(a), which authorizes family remittances, to place a cap of $1,000 as the maximum amount that one remitter can send per quarter to one Cuban national as a family remittance. Section 515.570(a) provides that the recipient of family remittances may not be a prohibited official of the Government of Cuba, as defined in §515.337, or a prohibited member of the Cuban Communist Party, as defined in §515.338. OFAC is now amending §515.570(a) to prohibit remitters from sending remittances to close family members, as defined in §515.339, of prohibited officials of the Government of Cuba or prohibited members of the Cuban Communist Party....