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Federal Register / Vol. 86, No. 50 / Wednesday, March 17, 2021 / Rules and Regulations multiplied by the 2021 adjustment multiplier. Under the FCPIA Act, any increase in CMP must be rounded to the nearest multiple of $1.
New Penalty Amounts OFAC imposes CMPs pursuant to the penalty authority in five statutes: The
Trading With the Enemy Act 50 U.S.C.
43014341, at 4315 TWEA; the International Emergency Economic Powers Act 50 U.S.C. 17011706, at 1705 IEEPA; the Antiterrorism and Effective Death Penalty Act of 1996 18
U.S.C. 2339B AEDPA; the Foreign
14535

Narcotics Kingpin Designation Act 21
U.S.C. 19011908, at 1906 FNKDA;
and the Clean Diamond Trade Act 19
U.S.C. 39013913, at 3907 CDTA.
The table below summarizes the existing and new maximum CMP
amounts for each statute.

TABLE 1MAXIMUM CMP AMOUNTS FOR RELEVANT STATUTES
Existing maximum CMP amount
Statute TWEA
IEEPA
AEDPA
FNKDA
CDTA

In addition to updating these maximum CMP amounts, OFAC is also updating two references to one-half the IEEPA maximum CMP from $153,961 to
$155,781, and is adjusting the recordkeeping CMP amounts found in OFACs Economic Sanctions Enforcement Guidelines in appendix A

$90,743
307,922
81,283
1,529,991
13,910

Maximum CMP
amount effective March 17, 2021
$91,816
311,562
82,244
1,548,075
14,074

to 31 CFR part 501. The table below summarizes the existing and new maximum CMP amounts for OFACs recordkeeping CMPs.

TABLE 2MAXIMUM CMP AMOUNTS FOR RECORDKEEPING CMPS
Existing maximum CMP amount
Violation
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Failure to furnish information pursuant to 31 CFR 501.602 irrespective of whether any other violation is alleged.
Failure to furnish information pursuant to 31 CFR 501.602 where OFAC has reason to believe that the apparent violations involves a transactions valued at greater than $500,000, irrespective of whether any other violation is alleged.
Late filing of a required report, whether set forth in regulations or in a specific license, if filed within the first 30 days after the report is due.
Late filing of a required report, whether set forth in regulations or in a specific license, if filed more than 30 days after the report is due.
Late filing of a required report, whether set forth in regulations or in a specific license, if the report relates to blocked assets, an additional CMP for every 30 days that the report is overdue, up to five years.
Failure to maintain records in conformance with the requirements of OFACs regulations or of a specific license.

Maximum CMP
amount effective March 17, 2021

$23,765

$24,046

59,413

60,115

2,970

3,005

5,942

6,012

1,189

1,203

59,522

60,226

Finally, OFAC is making technical changes in the authorities citations of 31
CFR parts 501, 510, 535, 536, 539, 541, 542, 544, 546, 547, 548, 549, 552, 560, 561, 566, 576, 583, 584, 588, 592, 594, 597 and 598 to consolidate or shorten citations to conform to Federal Register guidance and to more specifically reference one of the relevant statutory authorities.

opportunity for public comment, with an effective date of March 17, 2021.

Control amends 31 CFR chapter V as follows:

Paperwork Reduction Act
PART 501REPORTING, PROCEDURES AND PENALTIES
REGULATIONS

Public Participation
List of Subjects in 31 CFR Parts 501, 510, 535, 536, 539, 541, 542, 544, 546, 547, 548, 549, 552, 560, 561, 566, 576, 583, 584, 588, 592, 594, 597, and 598

The FCPIA Act expressly exempts this final rule from the notice and comment requirements of the Administrative Procedure Act by directing agencies to adjust CMPs for inflation notwithstanding section 553 of title 5, United States Code Pub. L. 11474, 129 Stat. 599; 28 U.S.C. 2461 note. As such, this final rule is being issued without prior public notice or
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The Paperwork Reduction Act does not apply because this rule does not impose information collection requirements that would require the approval of the Office of Management and Budget under 44 U.S.C. 3501 et seq.

Administrative practice and procedure, Banks, banking, Blocking of assets, Exports, Foreign trade, Licensing, Penalties, Sanctions.

1. The authority citation for part 501
is revised to read as follows:

Authority: 8 U.S.C. 1189; 18 U.S.C. 2332d, 2339B; 19 U.S.C. 39013913; 21 U.S.C. 1901
1908; 22 U.S.C. 287c, 2370a, 6009, 6032, 7205, 85018551; Pub. L. 101410, 104 Stat.
890, as amended 28 U.S.C. 2461 note; 31
U.S.C. 321b; 50 U.S.C. 17011706, 4301
4341.

For the reasons set forth in the preamble, the Department of the Treasurys Office of Foreign Assets
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