I have inherited a portion of real estate and funds from my father in Iran. My mother who resides there has power of attorney and will be liquidating these assets. I would like her to transfer my share in form of a wire transfer by a Sarafi which are organizations who transfer the funds to another foreign bank, and then to my bank account. I called the Department of Treasury OFAC division and was notified that I do not need a license, and simply to let my financial institution know about the transfer in advance. I would like to see if my understanding is correct and further know if there are any taxes due in the US considering that these funds are already taxes in Iran. I am a permanent resident of the United States.
This is one of the most common issues that arises with OFAC sanctions and the Iranian-American community, and the answer is generally to talk to a lawyer with OFAC experience. For some information to get you started, for now, think of the real estate and funds as two separate kinds of inheritance. OFAC generally allows you to sell inherited property in Iran without a specific license (CFR 560.543 for the curious), but there are some significant exceptions. And as for the funds (as well as the cash you'll eventually get for the real estate), you cannot use sarafis. OFAC considers them Iranian Financial Institutions subject to sanctions, and US persons cannot deal with them without a specific license to do so. An attorney may be able to help you find an alternative means of transferring the funds, or help you get a license if one is necessary.
This answer is for general informational purposes only and should not be construed as legal advice for your specific situation, nor does it create an attorney-client relationship between us.
As you might imagine, the law regarding the transfer of assets from Iran to the US is a complicated matter given the sanctions regimes in place and OFAC regulations. You are going to need to speak with a law firm that has both trust/estates capabilities and experience in handling sanctions/OFAC issues. There are many such firms in the DC area that handle this sort of thing.
The foregoing is not legal advice nor is it in any manner whatsoever meant to create or impute an attorney/client relationship.
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