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Basis Desk
Regulation & Policy · 1 min read

UK Treasury Opens 2026 Annual Review for Sanctioned Frozen Assets

Entities holding or controlling resources of designated persons must submit updated reports to OFSI by Nov. 30, 2026.

Editorial oversight: Julian Mercer, Chief Editor
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Key points

  • HM Treasury launched its annual frozen asset review on Sept. 30, 2026, releasing new guidance and reporting forms.
  • Entities holding funds or economic resources belonging to designated persons must file reports with OFSI by Nov. 30, 2026.
  • The yearly review is designed to update central UK records regarding balance changes and active accounts of sanctioned targets.

HM Treasury launched its annual frozen asset reporting exercise on Sept. 30, 2026, ordering relevant entities to submit updated records of funds linked to designated persons 1. The Office of Financial Sanctions Implementation (OFSI) oversees the mandatory collection, which requires individuals and businesses holding or controlling economic resources belonging to sanctioned individuals or entities to participate 1.

Under the released guidance, market participants holding targeted assets must complete an updated reporting template and return it to OFSI no later than Nov. 30, 2026 1. HM Treasury conducts this review each year to adjust its central records for changes in accounts, accrued amounts, or shifting balances throughout the designated reporting period 1. The ministry published an updated six-page reporting notice alongside an Excel reporting spreadsheet to facilitate submissions 1.

Sanctions Compliance and Reporting Obligations

The annual exercise applies across financial sectors, compelling custodian institutions, asset managers, and other entities operating within the UK sanctions regime to verify designated holdings 1. Regulators use the consolidated data to identify non-compliance, trace balance fluctuations, and maintain an accurate ledger of immobilized wealth under active enforcement frameworks 1.

Affected firms now face a two-month preparation window before the Nov. 30, 2026, filing deadline to audit accounts, identify designated counterparties, and lodge the required paperwork with OFSI 1.

Questions this story raises

Who is required to file the frozen asset report?
All persons or entities that hold or control funds or economic resources belonging to a designated person under UK sanctions must complete and submit the form.
What is the deadline for the 2026 submission?
Completed reporting forms must be submitted to the Office of Financial Sanctions Implementation (OFSI) by Monday, Nov. 30, 2026.

Sources

  1. [1] Guidance: Annual frozen asset review: guidance and reporting form — HM Treasury, September 30, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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