UK OFSI annual frozen assets reporting

The UK Office of Financial Sanctions Implementation (OFSI) has published its annual frozen assets reporting notice alongside a reporting template, launching its 2026 review of frozen assets held under UK financial sanctions regimes. Persons holding or controlling funds or economic resources owned, held, or controlled by designated persons are required to submit a report to OFSI by 30 November, covering the value of relevant frozen assets as at the close of business on 30 September. The reporting obligation extends to assets held in the UK as well as those overseas where they are subject to UK financial sanctions legislation. The notice also reminds firms of their ongoing obligations to identify and freeze assets belonging to designated persons (and entities they own or control), report newly frozen assets to OFSI without delay, and provide information requested by OFSI.

The Annex to the notice provides a general description of the information to be reported. All returns must be submitted using the prescribed template. OFSI states that there is no requirement to submit a nil return where a person does not hold or control any funds or economic resources owned, held, or controlled by a designated person. However, if a person submitted a report last year (other than a nil return) and no longer holds those assets, they should submit a nil return.

Return to main website.