News

Frozen assets reporting deadline

01 October 2025

All legal firms holding or controlling funds or economic resources belonging to, or associated with, a designated person must submit a report to HM Treasury by 30 November 2025.

Every year HM Treasury carries out a review to reflect any changes to these assets during the reporting period. All legal firms that hold or control funds or economic resources owned, held, or controlled by a designated person must submit a report with the details of these assets.

If you hold this information or have previously reported frozen assets, you must submit a report to the Office of Financial Sanctions Implementation (OFSI).

Submitting accurate reports is essential to avoid potential penalties.

What to do next:

• Double-check client records for any frozen assets.
• Ensure reports are accurate, complete, and submitted by 30 November 2025.
• Stay updated on OFSI guidance and reporting requirements.

OFSI Reporting Guidance: Reporting information to OFSI