Treasury Department Announces New Guidelines for Anti-Terrorist Financing

On December 5, 2005, the U.S. Department of the Treasury issued a revised set of voluntary anti-terrorism financing guidelines to assist charitable organizations in complying with Executive Order 13224 and the USA Patriot Act following 9/11. The new guidelines may be accessed here:
http://www.treasury.gov/offices/enforcement/key-issues/protecting/charities-intro.shtml. The Department of the Treasury has issued a press release, which may be accessed here: http://www.treasury.gov/press/releases/js3035.htm.

The revised guidelines replace the “U.S. Department of the Treasury Anti-Terrorist Financing Guidelines: Voluntary Best Practices for U.S. Based Charities” issued in November 2002. While they are effective immediately, the new guidelines will be open for public comment until February 1, 2006.

The Council on Foundations has been critical of key aspects of the original Treasury anti-terrorist financing guidelines since they were first issued. In April, 2004, a Council-led Treasury Guidelines Working Group of more than 40 charitable organizations and advisors began developing a response to the guidelines that is more realistic and appropriate for the sector. The resulting "Principles of International Charity" was submitted to the Treasury Department in March, 2005. That document can be accessed here (in PDF) or by visiting International Programs on the Council website (www.cof.org)

The Council on Foundations is currently reviewing the revised guidelines and will work with the Treasury Guidelines Working Group to submit comments to the Treasury Department within the public comment period. Council members are invited to send their comments on the revised guidelines to Rob Buchanan, Director of International Programs, Council on Foundations at buchr@cof.org