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What is OFAC Voluntary Self-Disclosure?

Disclaimer: Iran OFAC license data below is for general information, not legal advice.

Zaher Fallahi, Iran OFAC License Attorney, CPA, assists Iran OFAC license clients with obtaining Iran OFAC licenses, money transfer from Iran pursuant to Iran OFAC License, taxation of Iran OFAC license transactions, Iran OFAC license problems with OFAC, Iran OFAC license Voluntary-Self Disclosure, IRS Audit, Cryptocurrency Tax, and Foreign Gifts. Consultation is available via toll free 1-(877) 687-7558.

Harvard Law School

Zaher Fallahi, Iran OFAC License Attorney, CPA, has completed “Negotiation and Leadership”, and “Leveraging the Power of Emotions as You Negotiate” Certificate Programs at Harvard Law School.

What is OFAC Voluntary Self-Disclosure (“VSD”)?

OFAC Voluntary Self-Disclosure (VSD) refers to a person’s voluntary reporting of his or her OFAC violation. Generally, VSD, preferably in consultation with an OFAC attorney, substantially mitigates potential OFAC penalties and almost guarantees no criminal prosecution referrals.  This is also true with respect to unreported foreign bank accounts with cumulative balances greater than $10,000, and voluntarily filing the required Foreign Bank Account Reporting (FBAR) in consultation with an international tax attorney.  Because the long-standing policy of the U.S. Treasury encourages voluntary disclosures. The following are examples of situations where you need to enter Iran OFAC license VSD:

(1) Having a bank account or brokerage account in Iran with potential OFAC and FBAR violations;

(2) Engaging in a self-employment business in Iran with potential OFAC, FBAR and regular tax filing violations;

(3) Being employed in Iran; except for U.N. related organizations with violations like items 1 and 2 above; and,

(4) Hiring counsel in Iran for legal services without Iran OFAC specific license; and,

(5) Conducting other business activities such as farming or manufacturing in Iran.

Important: Because Iran OFAC license VSD may entail violation of the U.S. International Tax Laws, entering Iran OFAC license VSD should be coordinated between your Iran OFAC Attorney and an International Tax Attorney with expertise in Report of Foreign Bank and Financial Accounts (FBAR), Foreign Account Tax Compliance Act (FATCA) and IRS Voluntary Disclosure Practice (VDP).   

Zaher Fallahi, Iran OFAC License Attorney, CPA

Zaher Fallahi, Iran OFAC license attorney, CPA, assists Iran OFAC license clients with obtaining Iran OFAC licenses, Iran OFAC license violations, Iran OFAC license related money transfers according to Iran OFAC License Regulations, and Iran OFAC license transactions taxation, and Foreign Gifts. Nationwide Consultations are available via toll free 1-(877) 687-7558, (310) 719-1040, (714) 546-4272, and email taxattorney@zfcpa.com

Mr. Fallahi has been an exceptional attorney throughout my experience with him. His deep expertise and thorough understanding of OFAC law were evident. He provided clear and insightful guidance that was crucial in my case. Mr. Fallahi's professionalism and commitment to me as his client were truly commendable. He consistently ensured my concerns were addressed promptly and effectively. I highly recommend Mr. Fallahi to anyone seeking expert advice and representation in OFAC matters.
It's been an honor to know Zaher Fallahi, Esq for the past 49 years.He is one of kind in almost everything. His clients and friends are always his priority. In my long life, I have had the chance to be helped by many people. But ZaherFalahi is a distinguished personality that his professionalism helped me to succeed in life.And that's why I never hesitate to refer my family and friends for all their legal and financial matters to him.
I have had the pleasure of knowing attorney Zaher Fallahi for over 10 years in a professional capacity. Zaher is knowledgeable, diligent, capable and a conscientious attorney. Zaher has a strong reputation in his field - International Tax and Undisclosed Foreign Bank Accounts - and is a good person, in general. I highly recommend him for your legal needs.
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