---
title: "UK Treasury Opens 2026 Annual Review for Sanctioned Frozen Assets"
description: "Entities holding or controlling resources of designated persons must submit updated reports to OFSI by Nov. 30, 2026."
url: https://basisdesk.news/news/uk-treasury-2026-frozen-asset-review-ofsi
published: 2026-09-30T13:06:17.605Z
modified: 2026-09-30T13:06:17.605Z
section: Regulation & Policy
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: neutral
tickers: []
tags: [UK, OFSI, HM Treasury, Sanctions, Compliance]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# 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.

## 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.

## Editorial remark

- **Context:** HM Treasury conducts an annual frozen asset audit under the UK financial sanctions framework, publishing revised guidance and reporting templates each autumn to track immobilized wealth.
- **Impact:** Custodians, financial institutions, and asset managers holding property or funds linked to designated individuals must audit their books and file disclosures, facing enforcement scrutiny from OFSI.
- **Watch:** The mandatory submission deadline on Monday, Nov. 30, 2026, when all designated account reports must be registered with OFSI.

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].

## FAQ

**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. [Guidance: Annual frozen asset review: guidance and reporting form](https://www.gov.uk/government/publications/annual-frozen-asset-review-and-reporting-form) — HM Treasury, 2026-09-30

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