IB 
Union Calendar No. 335 
115TH CONGRESS 
1ST SESSION H. R. 1638 
[Report No. 115–453, 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 
MARCH 20, 2017 
Mr. POLIQUIN introduced the following bill; which was referred to the Com-
mittee on Financial Services, and in addition to the Committee on For-
eign Affairs, for a period to be subsequently determined by the Speaker, 
in each case for consideration of such provisions as fall within the juris-
diction of the committee concerned 
DECEMBER 7, 2017 
Reported from the Committee on Financial Services with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
DECEMBER 7, 2017 
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 
[For text of introduced bill, see copy of bill as introduced on March 20, 2017] 
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A BILL 
To require the Secretary of the Treasury to submit a report 
to the appropriate congressional committees on the esti-
mated total assets under direct or indirect control by 
certain senior Iranian leaders and other figures, and 
for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Iranian Leadership 
Asset Transparency Act’’. 
SEC. 2. FINDINGS. 
The Congress finds the following: 
(1) Iran is characterized by high levels of official 
and institutional corruption, and substantial involve-
ment by Iran’s security forces, particularly the Is-
lamic Revolutionary Guard Corps (IRGC), in the 
economy. 
(2) Many members of Iran’s senior political and 
military leadership have acquired significant per-
sonal and institutional wealth by using their posi-
tions to secure control of significant portions of Iran’s 
national economy. 
(3) Sanctions relief provided through the Joint 
Comprehensive Plan of Action has resulted in the re-
moval of many Iranian entities that are tied to gov-
ernmental corruption from the list of entities sanc-
tioned by the United States. 
(4) The Department of Treasury in 2011 des-
ignated the Islamic Republic of Iran’s financial sector 
as a jurisdiction of primary money laundering con-
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cern under section 311 of the USA PATRIOT Act, 
stating ‘‘Treasury has for the first time identified the 
entire Iranian financial sector; including Iran’s Cen-
tral Bank, private Iranian banks, and branches, and 
subsidiaries of Iranian banks operating outside of 
Iran as posing illicit finance risks for the global fi-
nancial system.’’. 
(5) Iran continues to be listed by the Financial 
Action Task Force (FATF) among the ‘‘Non-Coopera-
tive Countries or Territories’’—countries which it 
perceived to be non-cooperative in the global fight 
against terror finance and money laundering. 
(6) Iran and North Korea are the only countries 
listed by the FATF as ‘‘Non-Cooperative Countries or 
Territories’’ against which FATF countries should 
take measures. 
(7) The Transparency International index of 
perceived public corruption ranks Iran 130th out of 
168 countries surveyed. 
(8) The State Department identified Iran as a 
‘‘major money-laundering country’’ in its Inter-
national Narcotics Control Strategy Report (INCSR) 
for 2016. 
(9) The State Department currently identifies 
Iran, along with Sudan and Syria, as a state sponsor 
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of terrorism, ‘‘having repeatedly provided support for 
acts of international terrorism’’. 
(10) The State Department’s ‘‘Country Reports 
on Terrorism’’, published last in July 2017, noted 
that ‘‘Iran continued to sponsor terrorist groups 
around the world, principally through its Islamic 
Revolutionary Guard Corps–Qods Force (IRGC–QF). 
These groups included Lebanese Hizballah, several 
Iraqi Shia militant groups, Hamas, and Palestine Is-
lamic Jihad. Iran, Hizballah, and other Shia militia 
continued to provide support to the Asad regime, dra-
matically bolstering its capabilities, prolonging the 
civil war in Syria, and worsening the human rights 
and refugee crisis there.’’. 
(11) The Iranian Government’s tolerance of cor-
ruption and nepotism in business limits opportunities 
for foreign and domestic investment, particularly 
given the significant involvement of the IRGC in 
many sectors of Iran’s economy. 
(12) The IRGC and the leadership-controlled 
bonyads (foundations) control an estimated one-third 
of Iran’s total economy, including large portions of 
Iran’s telecommunications, construction, and airport 
and port operations. These operations give the IRGC 
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and bonyads vast funds to support terrorist organiza-
tions such as Hezbollah and Hamas. 
(13) By gaining control of major economic sec-
tors, the IRGC and bonyads have also served to fur-
ther disadvantage the average Iranian. 
SEC. 3. REPORT REQUIREMENT RELATING TO ASSETS OF 
IRANIAN LEADERS AND CERTAIN SENIOR PO-
LITICAL FIGURES. 
(a) IN GENERAL.—Not later than 270 days after the 
date of enactment of this Act, and annually thereafter (or 
more frequently if the Secretary of the Treasury determines 
it appropriate based on new information received by the 
Secretary) for the following 2 years, the Secretary of the 
Treasury shall, in furtherance of the Secretary’s efforts to 
prevent the financing of terrorism, money laundering, or 
related illicit finance and to make financial institutions’ 
required compliance with remaining sanctions more easily 
understood, submit a report to the appropriate congres-
sional committees containing— 
(1) the estimated total funds or assets held in ac-
counts at U.S. and foreign financial institutions that 
are under direct or indirect control by each natural 
person described in subsection (b) and a description 
of such assets; 
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(2) an identification of any equity stake such 
natural person has in an entity on the Department 
of the Treasury’s list of Specially Designated Nation-
als or in any other sanctioned entity; 
(3) a description of how such funds or assets or 
equity interests were acquired, and how they have 
been used or employed; 
(4) a description of any new methods or tech-
niques used to evade anti-money laundering and re-
lated laws, including recommendations to improve 
techniques to combat illicit uses of the U.S. financial 
system by each natural person described in subsection 
(b); 
(5) recommendations for how U.S. economic 
sanctions against Iran may be revised to prevent the 
funds or assets described under this subsection from 
being used by the natural persons described in sub-
section (b) to contribute to the continued development, 
testing, and procurement of ballistic missile tech-
nology by Iran; 
(6) a description of how the Department of the 
Treasury assesses the impact and effectiveness of U.S. 
economic sanctions programs against Iran; and 
(7) recommendations for improving the ability of 
the Department of the Treasury to rapidly and effec-
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tively develop, implement, and enforce additional eco-
nomic sanctions against Iran if so ordered by the 
President under the International Emergency Eco-
nomic Powers Act or other corresponding legislation. 
(b) PERSONS DESCRIBED.—The natural persons de-
scribed in this subsection are the following: 
(1) The Supreme Leader of Iran. 
(2) The President of Iran. 
(3) Members of the Council of Guardians. 
(4) Members of the Expediency Council. 
(5) The Minister of Intelligence and Security. 
(6) The Commander and the Deputy Commander 
of the IRGC. 
(7) The Commander and the Deputy Commander 
of the IRGC Ground Forces. 
(8) The Commander and the Deputy Commander 
of the IRGC Aerospace Force. 
(9) The Commander and the Deputy Commander 
of the IRGC Navy. 
(10) The Commander of the Basij-e-Mostaz’afin. 
(11) The Commander of the Qods Force. 
(12) The Commander in Chief of the Police 
Force. 
(13) The head of the IRGC Joint Staff. 
(14) The Commander of the IRGC Intelligence. 
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(15) The head of the IRGC Imam Hussein Uni-
versity. 
(16) The Supreme Leader’s Representative at the 
IRGC. 
(17) The Chief Executive Officer and the Chair-
man of the IRGC Cooperative Foundation. 
(18) The Commander of the Khatam-al-Anbia 
Construction Head Quarter. 
(19) The Chief Executive Officer of the Basij Co-
operative Foundation. 
(20) The head of the Political Bureau of the 
IRGC. 
(21) The head of the Atomic Energy Organiza-
tion of Iran. 
(c) FORM OF REPORT; PUBLIC AVAILABILITY.— 
(1) FORM.—The report required under subsection 
(a) shall be submitted in unclassified form but may 
contain a classified annex. 
(2) PUBLIC AVAILABILITY.—The unclassified por-
tion of such report shall be made available to the pub-
lic and posted on the website of the Department of the 
Treasury— 
(A) in English, Farsi, Arabic, and Azeri; 
and 
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(B) in precompressed, easily downloadable 
versions that are made available in all appro-
priate formats. 
(d) SOURCES OF INFORMATION.—In preparing a re-
port described under subsection (a), the Secretary of the 
Treasury may use any credible publication, database, web- 
based resource, public information compiled by any govern-
ment agency, and any information collected or compiled by 
a nongovernmental organization or other entity provided 
to or made available to the Secretary, that the Secretary 
finds credible. 
(e) DEFINITIONS.—For purposes of this section: 
(1) 
APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional commit-
tees’’ means the Committees on Financial Services 
and Foreign Affairs of the House of Representatives 
and the Committees on Banking, Housing, and 
Urban Affairs and Foreign Relations of the Senate. 
(2) FUNDS.—The term ‘‘funds’’ means— 
(A) cash; 
(B) equity; 
(C) any other intangible asset whose value 
is derived from a contractual claim, including 
bank deposits, bonds, stocks, a security as defined 
in section 2(a) of the Securities Act of 1933 (15 
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Union Calendar No. 335 
115TH CONGRESS 
1ST SESSION 
H. R. 1638 
[Report No. 115–453, Part I] 
A BILL 
To require the Secretary of the Treasury to submit 
a report to the appropriate congressional commit-
tees on the estimated total assets under direct or 
indirect control by certain senior Iranian leaders 
and other figures, and for other purposes. 
DECEMBER 7, 2017 
Reported from the Committee on Financial Services with 
an amendment 
DECEMBER 7, 2017 
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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