# 31 CFR § 535.701: Penalties > Federal · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/ecfr-31-535.701 ## Section - **Citation:** 31 CFR § 535.701 - **Heading:** Penalties - **Jurisdiction:** Federal - **Kind:** Regulations - **Status:** In force - **Text as of:** September 22, 2026 - **Source:** Publisher's official text - **Location:** Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY > PART 535—IRANIAN ASSETS CONTROL REGULATIONS > Subpart G—Penalties ## Text (a) Attention is directed to section 206 of the International Emergency Economic Powers Act (the “Act”) (50 U.S.C. 1705), which is applicable to violations of the provisions of any license, ruling, regulation, order, direction or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under the Act. (1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act. (2) The applicable maximum civil penalty per violation of the Act is the greater of $377,700 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed. (3) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both. (b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note). (2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571. (c) Attention is also directed to 18 U.S.C. 1001, which provides that whoever, in any matter within the jurisdiction of any department or agency of the United States, knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statement or representation or makes or uses any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined under title 18, United States Code, or imprisoned not more than five years, or both. (d) Attention is directed to 18 U.S.C. 2332d, as added by Public Law 104-132, section 321, which provides that, except as provided in regulations issued by the Secretary of the Treasury, in consultation with the Secretary of State, a U.S. person, knowing or having reasonable cause to know that a country is designated under section 6(j) of the Export Administration Act, 50 U.S.C. App. 2405, as a country supporting international terrorism, engages in a financial transaction with the government of that country, shall be fined under title 18, United States Code, or imprisoned for not more than 10 years, or both. [44 FR 65956, Nov. 15, 1979, as amended at 61 FR 43461, Aug. 23, 1996; 61 FR 54938, Oct. 23, 1996; 62 FR 45107, Aug. 25, 1997; 71 FR 29252, May 22, 2006; 73 FR 32651, June 10, 2008; 81 FR 43074, July 1, 2016; 82 FR 10436, Feb. 10, 2017; 83 FR 11878, Mar. 19, 2018; 84 FR 27716, June 14, 2019; 85 FR 19886, Apr. 9, 2020; 86 FR 14537, Mar. 17, 2021; 87 FR 7371, Feb. 9, 2022; 88 FR 2232, Jan. 13, 2023; 89 FR 2141, Jan. 12, 2024; 90 FR 3690, Jan. 15, 2025] ## Nearby sections - [31 CFR § 535.101 § 535.101 Relation of this part to other laws and regulations.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.101.md) - [31 CFR § 535.201 § 535.201 Transactions involving property in which Iran or Iranian entities have an interest.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.201.md) - [31 CFR § 535.202 § 535.202 Transactions with respect to securities registered or inscribed in the name of Iran.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.202.md) - [31 CFR § 535.203 § 535.203 Effect of transfers violating the provisions of this part.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.203.md) - [31 CFR § 535.208 § 535.208 Evasions; effective date.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.208.md) - [31 CFR § 535.210 § 535.210 Direction for establishing an escrow agreement.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.210.md) - [31 CFR § 535.211 § 535.211 Direction involving transfers by the Federal Reserve Bank concerning certain Iranian property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.211.md) - [31 CFR § 535.212 § 535.212 Direction to transfer property in which Iran or an Iranian entity has an interest by branches and offices of United States banks located outside the United States.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.212.md) - [31 CFR § 535.213 § 535.213 Direction involving property held by offices of banks in the United States in which Iran or an Iranian entity has an interest.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.213.md) - [31 CFR § 535.214 § 535.214 Direction involving other financial assets in which Iran or an Iranian entity has an interest held by any person subject to the jurisdiction of the United States.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.214.md) - [31 CFR § 535.215 § 535.215 Direction involving other properties in which Iran or an Iranian entity has an interest held by any person subject to the jurisdiction of the United States.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.215.md) - [31 CFR § 535.216 § 535.216 Prohibition against prosecution of certain claims.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.216.md) - [31 CFR § 535.217 § 535.217 Blocking of property of the former Shah of Iran and of certain other Iranian nationals.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.217.md) - [31 CFR § 535.218 § 535.218 Prohibitions and nullifications with respect to property described in §§ 535.211, 535.212, 535.213, 535.214 and 535.215 and standby letters of credit.](https://www.frixlaw.com/law-library/statutes/ecfr-31-535.218.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-31-535.701. 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