OFAC Compliance

Prairie View A&M University is obligated to comply with the requirements of the United States Department of Treasury Office of Foreign Assets Control (OFAC), which oversees payments sent outside the territorial jurisdiction of the United States. This includes automated clearing house (ACH) payments, such as electronic funds transfer (EFT).

Effective September 18, 2009, Prairie View A&M University is obligated to identify as an “International ACH Transaction” (IAT) any EFT of a vendor payment that are

  1. made by the University to a financial institution located outside the U.S., or
  2. made by the University to a domestic financial institution if that financial institution immediately transfers the full deposit amount to a financial institution in a “back-to-back” transaction.

If you have instructions with your recipient bank to immediately wire the full amount of the direct deposit to a foreign bank, we request that you complete a form that provides further details about the foreign transaction. The form with instructions on completion and where to return, may be accessed at:
http://www.pvamu.edu/pages/2603.asp.

To comply with the OFAC requirements going forward, Prairie View A&M University will require that vendors confirm, at the time that they request payments be made by EFT, that the EFT is being made to a domestic financial institution and will not be part of a “back to back” transaction to a foreign institution.
Please Mail, Email, or Fax to:

Accounts Payable Office
Prairie View A&M University
P.O. Box 519 MS 1311
Prairie View, TX 77446
Fax: (936) 261-1958
Email: payables@pvamu.edu
Phone: 936-261-1902
WR Banks Room 129

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