[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR539.704]



[Page 213-214]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 539_WEAPONS OF MASS DESTRUCTION TRADE CONTROL REGULATIONS

--Table of Contents

 

                           Subpart G_Penalties

 

Sec. 539.704  Penalty imposition or withdrawal.



    (a) No violation. If, after considering any response to a prepenalty 

notice and any relevant facts, the Director of the Office of Foreign 

Assets Control determines that there was no violation by the respondent 

named in the prepenalty notice, the Director



[[Page 214]]



promptly shall notify the respondent in writing of that determination 

and that no monetary penalty will be imposed.

    (b) Violation. If, after considering any response to a prepenalty 

notice and any relevant facts, the Director of the Office of Foreign 

Assets Control determines that there was a violation by the respondent 

named in the prepenalty notice, the Director promptly shall issue a 

written notice of the imposition of the monetary penalty to the 

respondent.

    (1) The penalty notice shall inform the respondent that payment of 

the assessed penalty must be made within 30 days of the date of mailing 

of the penalty notice.

    (2) The penalty notice shall inform the respondent of the 

requirement to furnish the respondent's taxpayer identification number 

pursuant to 31 U.S.C. 7701 and that such number will be used for 

purposes of collecting and reporting on any delinquent penalty amount.