I 
118TH CONGRESS 
1ST SESSION H. R. 6051 
To require the Secretary of the Treasury to report on financial institutions’ 
involvement with officials of the Iranian Government, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 25, 2023 
Mr. HILL (for himself and Mr. VARGAS) 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 deter-
mined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
A BILL 
To require the Secretary of the Treasury to report on finan-
cial institutions’ involvement with officials of the Iranian 
Government, and for other purposes. 
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 ‘‘Holding Iranian Lead-
ers Accountable Act of 2023’’. 
SEC. 2. FINDINGS. 
The Congress finds the following: 
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(1) Iran is characterized by high levels of offi-
cial and institutional corruption, and substantial in-
volvement by Iran’s security forces, particularly the 
Islamic Revolutionary Guard Corps (IRGC), in the 
economy. 
(2) The Department of the Treasury in 2019 
designated the Islamic Republic of Iran’s financial 
sector as a jurisdiction of primary money laundering 
concern, concluding, ‘‘Iran has developed covert 
methods for accessing the international financial sys-
tem and pursuing its malign activities, including 
misusing banks and exchange houses, operating pro-
curement networks that utilize front or shell compa-
nies, exploiting commercial shipping, and masking il-
licit transactions using senior officials, including 
those at the Central Bank of Iran (CBI).’’. 
(3) In June 2019, the Financial Action Task 
Force (FATF) urged all jurisdictions to require in-
creased supervisory examination for branches and 
subsidiaries of financial institutions based in Iran. 
The FATF later called upon its members to intro-
duce enhanced relevant reporting mechanisms or 
systematic reporting of financial transactions, and 
require increased external audit requirements, for fi-
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nancial groups with respect to any of their branches 
and subsidiaries located in Iran. 
(4) According to the State Department’s 
‘‘Country Reports on Terrorism’’ in 2021, ‘‘Iran 
continued to be the leading state sponsor of ter-
rorism, facilitating a wide range of terrorist and 
other illicit activities around the world. Regionally, 
Iran supported acts of terrorism in Bahrain, Iraq, 
Lebanon, Syria, and Yemen through proxies and 
partner groups such as Hizballah and Hamas.’’. 
SEC. 3. REPORT ON FINANCIAL INSTITUTIONS AND ASSETS 
CONNECTED TO CERTAIN IRANIAN OFFI-
CIALS. 
(a) FINANCIAL INSTITUTIONS
AND ASSETS RE-
PORT.— 
(1) IN
GENERAL.—Not later than 180 days 
after the date of the enactment of this Act, and 
every 2 years thereafter, the President shall submit 
a report to the appropriate Members of Congress 
containing— 
(A) the estimated total funds or assets 
that are under direct or indirect control by each 
of the natural persons described under sub-
section (b), and a description of such funds or 
assets, except that the President may limit cov-
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erage of the report to not fewer than 5 of such 
natural persons in order to meet the submission 
deadline described under this paragraph; 
(B) a description of how such funds or as-
sets were acquired, and how they have been 
used or employed; 
(C) a list of any non-Iranian financial in-
stitutions that— 
(i) maintain an account in connection 
with funds or assets described in subpara-
graph (A); or 
(ii) knowingly provide significant fi-
nancial services to a natural person cov-
ered by the report; and 
(D) a description of any illicit or corrupt 
means employed to acquire or use such funds or 
assets. 
(2) EXEMPTIONS.—The requirements described 
under paragraph (1) may not be applied with re-
spect to a natural person or a financial institution, 
as the case may be, if the President determines: 
(A) The funds or assets described under 
subparagraph (A) of paragraph (1) were ac-
quired through legal or noncorrupt means. 
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(B) The natural person has agreed to pro-
vide significant cooperation to the United 
States for an important national security or law 
enforcement purpose with respect to Iran. 
(C) A financial institution that would oth-
erwise be listed in the report required by para-
graph (1) has agreed to— 
(i) no longer maintain an account de-
scribed under subparagraph (C)(i) of para-
graph (1); 
(ii) no longer provide significant fi-
nancial services to a natural person cov-
ered by the report; or 
(iii) provide significant cooperation to 
the United States for an important na-
tional security or law enforcement purpose 
with respect to Iran. 
(3) WAIVER.—The President may waive for up 
to 1 year at a time any requirement under para-
graph (1) with respect to a natural person or a fi-
nancial institution after reporting in writing to the 
appropriate Members of Congress that the waiver is 
in the national interest of the United States, with a 
detailed explanation of the reasons therefor. 
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(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 Com-
mander of the IRGC. 
(7) The Commander and the Deputy Com-
mander of the IRGC Ground Forces. 
(8) The Commander and the Deputy Com-
mander of the IRGC Aerospace Force. 
(9) The Commander and the Deputy Com-
mander 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. 
(15) The head of the IRGC Imam Hussein Uni-
versity. 
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