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OFAC News; Publication of Iran General License D-1 and Related Frequently Asked Questions, 2/7/2014

Posted by: Zaher Fallahi
Posted On: Feb 11, 2014

February 7, 2014

Today, the Department of the Treasury, in consultation with the Departments of State and Commerce, issued amended Iranian General License D-1 (“GL D-1”).  GL D-1 clarifies certain aspects of General License D, which was issued on May 30, 2013, and adds certain new authorizations relating to the provision to Iran of certain hardware, software, and services incident to personal communications.  Effective February 7, 2014, GL D-1 replaces and supersedes in its entirety GL D.  OFAC also is publishing today Frequently Asked Questions relating to the provisions of GL D-1.

For assistance with any OFAC matters, including the legal and tax implications of transferring money from Iran, you may contact Zaher Fallahi, OFAC and Tax Attorney, CPA, at (310) 719-1040 (Los Angeles) or (714) 546-4272 (Orange County), or e-mail to taxattorney@zfcpa.com.