The regulation states that you must put blocked funds into an interest bearing account. I cannot find any details explaining how to title the account or what Tax ID number to use for interest purposes.
Does anyone know where I can find this information?
Would you use "blocked account" in the title or just the name of the designated national?
(We do not have any accounts at this time)

kreed

I don't think there are any requirements, except that you need to be able to internally recognize it somehow. We've just used the customer's name, with OFAC Blocked Account in the second line.

What TIN did you use for reporting purposes?

I've reviewed our records and can't find anything that says for sure (the funds were released a few months ago) - I believe it was in the customer's social. I noticed while reviewing that none of the OFAC forms even ask what social the account is under, so I don't think OFAC cares.