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Title 50 — War and National DefenseRelease 119-73

§3055 Annual report on financial intelligence on terrorist assets

Title 50 › Chapter CHAPTER 44— - NATIONAL SECURITY › Subchapter SUBCHAPTER I— - COORDINATION FOR NATIONAL SECURITY › § 3055

Last updated Apr 6, 2026|Official source

Summary

The Treasury Secretary must send a yearly report, through the head of the Office of Intelligence Support, to the listed congressional committees about work against terrorist money networks. Each report covers the prior one-year period and must say: the total number of asset seizures, designations, and other actions against people or groups that supported terrorism; the total number of physical searches of offices, homes, or financial records of such suspects; and whether the financial intelligence taken in those cases was shared fully and quickly with all U.S. departments, agencies, and entities in the Foreign Terrorist Asset Tracking Center. If someone or their assets are designated as terrorist-related, the Secretary must tell the committees within 24 hours. Reports to the intelligence committees must follow the filing dates in section 3106. "Appropriate congressional committees" means these House and Senate committees: House — Permanent Select Committee on Intelligence; Committee on Appropriations; Committee on Armed Services; Committee on Financial Services. Senate — Select Committee on Intelligence; Committee on Appropriations; Committee on Armed Services; Committee on Banking, Housing, and Urban Affairs.

Full Legal Text

Title 50, §3055

War and National Defense — Source: USLM XML via OLRC

(a)On an annual basis, the Secretary of the Treasury (acting through the head of the Office of Intelligence Support) shall submit a report to the appropriate congressional committees that fully informs the committees concerning operations against terrorist financial networks. Each such report shall include with respect to the preceding one-year period—
(1)the total number of asset seizures, designations, and other actions against individuals or entities found to have engaged in financial support of terrorism;
(2)the total number of physical searches of offices, residences, or financial records of individuals or entities suspected of having engaged in financial support for terrorist activity; and
(3)whether the financial intelligence information seized in these cases has been shared on a full and timely basis with the all departments, agencies, and other entities of the United States Government involved in intelligence activities participating in the Foreign Terrorist Asset Tracking Center.
(b)In the case of a designation of an individual or entity, or the assets of an individual or entity, as having been found to have engaged in terrorist activities, the Secretary of the Treasury shall report such designation within 24 hours of such a designation to the appropriate congressional committees.
(c)In the case of the reports required to be submitted under subsection (a) to the congressional intelligence committees, the submittal dates for such reports shall be as provided in section 3106 of this title.
(d)In this section, the term “appropriate congressional committees” means the following:
(1)The Permanent Select Committee on Intelligence, the Committee on Appropriations, the Committee on Armed Services, and the Committee on Financial Services of the House of Representatives.
(2)The Select Committee on Intelligence, the Committee on Appropriations, the Committee on Armed Services, and the Committee on Banking, Housing, and Urban Affairs of the Senate.

Legislative History

Notes & Related Subsidiaries

Repeal of SectionFor repeal of section by section 6801(a)(1)(A) of Pub. L. 119–60, see

Effective Date

of Repeal note below.

Editorial Notes

Codification Section was formerly classified to section 404m of this title prior to editorial reclassification and renumbering as this section.

Amendments

2022—Subsec. (a). Pub. L. 117–263 substituted “an annual” for “a annual” in introductory provisions. 2010—Pub. L. 111–259, § 347(d)(1), substituted “Annual” for “Semiannual” in section catchline. Subsec. (a). Pub. L. 111–259, § 347(d)(2)(A), (B), in heading, substituted “Annual” for “Semiannual” and, in introductory provisions, substituted “annual basis” for “semiannual basis” and “preceding one-year period” for “preceding six-month period”. Subsec. (a)(2) to (4). Pub. L. 111–259, § 347(d)(2)(C), (D), redesignated pars. (3) and (4) as (2) and (3), respectively, and struck out former par. (2) which read as follows: “the total number of applications for asset seizure and designations of individuals or entities suspected of having engaged in financial support of terrorist activities that were granted, modified, or denied;”. Subsec. (d)(1), (2). Pub. L. 111–259, § 347(d)(3), inserted “the Committee on Armed Services,” after “the Committee on Appropriations,”.

Statutory Notes and Related Subsidiaries

Effective Date

of Repeal Pub. L. 119–60, div. F, title LXVIII, § 6801(a)(1)(C), Dec. 18, 2025, 139 Stat. 1652, provided that: “The

Amendments

made by subparagraphs (A) and (B) [amending section 3106 of this title and repealing this section] shall take effect on December 31, 2026.”

Reference

Citations & Metadata

Citation

50 U.S.C. § 3055

Title 50 — War and National Defense

Last Updated

Apr 6, 2026

Release point: 119-73