IB 

Union Calendar No. 579 

114TH CONGRESS 

2D SESSION H. R. 5461 

[Report No. 114–746, Part I] 

To require the Secretary of the Treasury to submit a report to the appropriate 

congressional committees on the estimated total assets under direct or 

indirect control by certain senior Iranian leaders and other figures, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 13, 2016 

Mr. POLIQUIN (for himself and Mr. HILL) introduced the following bill; which 

was referred to the Committee on Financial Services, and in addition to 

the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions 

as fall within the jurisdiction of the committee concerned 

SEPTEMBER 13, 2016 

Reported from the Committee on Financial Services 

SEPTEMBER 13, 2016 

The Committee on Foreign Affairs discharged; committed to the Committee 

of the Whole House on the State of the Union and ordered to be printed 


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•HR 5461 RH

A BILL 

To require the Secretary of the Treasury to submit a report 

to the appropriate congressional committees on the estimated total assets under direct or indirect control by 

certain senior Iranian leaders and other figures, and 

for other purposes. 


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•HR 5461 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Iranian Leadership 

5 Asset Transparency Act’’. 

6 SEC. 2. FINDINGS. 

7 The Congress finds the following: 

8 (1) Iran is characterized by high levels of offi9 cial and institutional corruption, and substantial in10 volvement by Iran’s security forces, particularly the 

11 Islamic Revolutionary Guard Corps (IRGC), in the 

12 economy. 

13 (2) Many members of Iran’s senior political and 

14 military leadership have acquired significant per15 sonal and institutional wealth by using their posi16 tions to secure control of significant portions of 

17 Iran’s national economy. 

18 (3) Sanctions relief provided through the Joint 

19 Comprehensive Plan of Action has resulted in the re20 moval of many Iranian entities that are tied to gov21 ernmental corruption from the list of entities sanc22 tioned by the United States. 

23 (4) The Department of Treasury in 2011 des24 ignated the Islamic Republic of Iran’s financial sec25 tor as a jurisdiction of primary money laundering 


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1 concern under section 311 of the USA PATRIOT 

2 Act, stating ‘‘Treasury has for the first time identi3 fied the entire Iranian financial sector; including 

4 Iran’s Central Bank, private Iranian banks, and 

5 branches, and subsidiaries of Iranian banks oper6 ating outside of Iran as posing illicit finance risks 

7 for the global financial system.’’. 

8 (5) Iran continues to be listed by the Financial 

9 Action Task Force (FATF) among the ‘‘Non-Coop10 erative Countries or Territories’’—countries which it 

11 perceived to be non-cooperative in the global fight 

12 against terror finance and money laundering. 

13 (6) Iran and North Korea are the only coun14 tries listed by the FATF as ‘‘Non-Cooperative Coun15 tries or Territories’’ against which FATF countries 

16 should take measures. 

17 (7) The Transparency International index of 

18 perceived public corruption ranks Iran 130th out of 

19 168 countries surveyed. 

20 (8) The State Department identified Iran as a 

21 country/jurisdiction of ‘‘primary concern’’ for money 

22 laundering in its 2014 International Narcotics Con23 trol Strategy Report (INCSR). 

24 (9) The State Department currently identifies 

25 Iran, along with Sudan and Syria, as a state sponsor 


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1 of terrorism, ‘‘having repeatedly provided support 

2 for acts of international terrorism’’. 

3 (10) The State Department’s ‘‘Country Reports 

4 on Terrorism’’, published last in June 2015 noted 

5 that ‘‘Iran continued to sponsor terrorist groups 

6 around the world, principally through its Islamic 

7 Revolutionary Guard Corps–Qods Force (IRGC– 

8 QF). These groups included Lebanese Hizballah, 

9 several Iraqi Shia militant groups, Hamas, and Pal10 estine Islamic Jihad. Iran, Hizballah, and other Shia 

11 militia continued to provide support to the Asad re12 gime, dramatically bolstering its capabilities, pro13 longing the civil war in Syria, and worsening the 

14 human rights and refugee crisis there.’’. 

15 (11) The Iranian Government’s tolerance of 

16 corruption and nepotism in business limits opportu17 nities for foreign and domestic investment, particu18 larly given the significant involvement of the IRGC 

19 in many sectors of Iran’s economy. 

20 (12) The IRGC and the leadership-controlled 

21 bonyads (foundations) control an estimated one-third 

22 of Iran’s total economy, including large portions of 

23 Iran’s telecommunications, construction, and airport 

24 and port operations. These operations give the IRGC 


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1 and bonyads vast funds to support terrorist organi2 zations such as Hezbollah and Hamas. 

3 (13) By gaining control of major economic sec4 tors, the IRGC and bonyads have also served to fur5 ther disadvantage the average Iranian. 

6 SEC. 3. REPORT REQUIREMENT RELATING TO ASSETS OF 

7 IRANIAN LEADERS AND CERTAIN SENIOR PO8 LITICAL FIGURES. 

9 (a) IN GENERAL.—Not later than 270 days after the 

10 date of enactment of this Act, and annually thereafter (or 

11 more frequently if the Secretary of the Treasury deter12 mines it appropriate based on new information received 

13 by the Secretary) for the following 2 years, the Secretary 

14 of the Treasury shall, in furtherance of the Secretary’s 

15 efforts to prevent the financing of terrorism, money laun16 dering, or related illicit finance and to make financial in17 stitutions’ required compliance with remaining sanctions 

18 more easily understood, submit a report to the appropriate 

19 congressional committees containing— 

20 (1) the estimated total funds or assets held in 

21 accounts at U.S. and foreign financial institutions 

22 that are under direct or indirect control by each nat23 ural person described in subsection (b) and a de24 scription of such assets; 


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1 (2) an identification of any equity stake such 

2 natural person has in an entity on the Department 

3 of the Treasury’s list of Specially Designated Na4 tionals or in any other sanctioned entity; 

5 (3) a description of how such funds or assets or 

6 equity interests were acquired, and how they have 

7 been used or employed; and 

8 (4) a description of any new methods or tech9 niques used to evade anti-money laundering and re10 lated laws, including recommendations to improve 

11 techniques to combat illicit uses of the U.S. financial 

12 system by each natural person described in sub13 section (b). 

14 (b) PERSONS DESCRIBED.—The natural persons de15 scribed in this subsection are the following: 

16 (1) The Supreme Leader of Iran. 

17 (2) The President of Iran. 

18 (3) Members of the Council of Guardians. 

19 (4) Members of the Expediency Council. 

20 (5) The Minister of Intelligence and Security. 

21 (6) The Commander and the Deputy Com22 mander of the IRGC. 

23 (7) The Commander and the Deputy Com24 mander of the IRGC Ground Forces. 


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1 (8) The Commander and the Deputy Com2 mander of the IRGC Aerospace Force. 

3 (9) The Commander and the Deputy Com4 mander of the IRGC Navy. 

5 (10) The Commander of the Basij-e6 Mostaz’afin. 

7 (11) The Commander of the Qods Force. 

8 (12) The Commander in Chief of the Police 

9 Force. 

10 (13) The head of the IRGC Joint Staff. 

11 (14) The Commander of the IRGC Intelligence. 

12 (15) The head of the IRGC Imam Hussein Uni13 versity. 

14 (16) The Supreme Leader’s Representative at 

15 the IRGC. 

16 (17) The Chief Executive Officer and the 

17 Chairman of the IRGC Cooperative Foundation. 

18 (18) The Commander of the Khatam-al-Anbia 

19 Construction Head Quarter. 

20 (19) The Chief Executive Officer of the Basij 

21 Cooperative Foundation. 

22 (20) The head of the Political Bureau of the 

23 IRGC. 

24 (c) FORM OF REPORT; PUBLIC AVAILABILITY.— 


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1 (1) FORM.—The report required under sub2 section (a) shall be submitted in unclassified form 

3 but may contain a classified annex. 

4 (2) PUBLIC AVAILABILITY.—The unclassified 

5 portion of such report shall be made available to the 

6 public and posted on the website of the Department 

7 of the Treasury— 

8 (A) in English, Farsi, Arabic, and Azeri; 

9 and 

10 (B) in precompressed, easily downloadable 

11 versions that are made available in all appro12 priate formats. 

13 (d) SOURCES OF INFORMATION.—In preparing a re14 port described under subsection (a), the Secretary of the 

15 Treasury may utilize any credible publication, database, 

16 web-based resource, and any credible information compiled 

17 by any government agency, nongovernmental organization, 

18 or other entity provided to or made available to the Sec19 retary. 

20 (e) DEFINITIONS.—For purposes of this section: 

21 (1) APPROPRIATE CONGRESSIONAL COMMIT22 TEES.—The term ‘‘appropriate congressional com23 mittees’’ means the Committee on Financial Services 

24 of the House of Representatives and the Committee 


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1 on Banking, Housing, and Urban Affairs of the Sen2 ate. 

3 (2) FUNDS.—The term ‘‘funds’’ means— 

4 (A) cash; 

5 (B) equity; 

6 (C) any other intangible asset whose value 

7 is derived from a contractual claim, including 

8 bank deposits, bonds, stocks, a security as de9 fined in section 2(a) of the Securities Act of 

10 1933 (15 U.S.C. 77b(a)), or a security or an 

11 equity security as defined in section 3(a) of the 

12 Securities Exchange Act of 1934 (15 U.S.C. 

13 78c(a)); and 

14 (D) anything else that the Secretary deter15 mines appropriate. 


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Union Calendar No. 579 

114TH CONGRESS 

2D SESSION H. R. 5461 

[Report No. 114–746, Part I] 

A BILL 

To require the Secretary of the Treasury to submit 

and other figures, and for other purposes. indirect control by certain senior Iranian leaders tees on the estimated total assets under direct or a report to the appropriate congressional commitSEPTEMBER 13, 2016 

Reported from the Committee on Financial Services 

SEPTEMBER 13, 2016 

The Committee on Foreign Affairs discharged; committed 

the Union and ordered to be printed to the Committee of the Whole House on the State of 


asabaliauskas on DSK3SPTVN1PROD with BILLS