Recreational and Powersports dealers are subject to a tangled thicket of federal and state laws and regulations--many of which involve finance and insurance. IntelliMenu^TM subscribers automatically receive comprehensive legal compliance assistance at no extra charge. We offer the option of a complete review of all sales documentation as well as guidance on legally required dealership policies such as Privacy Safeguards and the Red Flags Rule. Our IntelliTraining^TM course series--also provided at no additional charge to subscribers--teaches your F&I staff how to comply with Form 8300, Fair Credit, proper disclosure techniques, and other state and local requirements so that you can have additional peace of mind that your business operations are compliant.*

One of the federal legal requirements we can help with are OFAC checks, performed automatically when you use IntelliMenu^TM.

A: OFAC stands for Office of Foreign Asset Control. It is an agency within the Treasury Department responsible for enforcing economic sanctions against money launderers, suspected terrorists, and dealers in narcotics. Both individuals and groups--including governments, banks, charitable organizations, and other businesses--are included on the list. Names are constantly removed and added based on intelligence and other information.

Q: What are the compliance requirements for powersports, recreational, marine, and auto dealers?

A: Dealers are required by law to review this sanctions list prior to entering into any sales or finance contract and report any matches to OFAC.

A: There are both civil and criminal penalties. Civil fines can be up to $11,000 per violation. Willful acts carry as much as $50,000 in fines per violation and up to 10 years in prison.

A: The Treasury Department publishes a list of the individuals and groups subject to sanctions called the SDN (Specially Designated Nationals) list. The SDN list is automated and regularly updated making a manual search time consuming and impractical. With Intellimenu^TM, the customer's first and last name is entered. Intellimenu^TM automatically compares the name with the most current sanctions list. If there is a possible match, a pop-up screen gives the business manager instructions on who to contact keeping the dealer compliant.

A: The Intellimenu^TM software syncs with the Treasury database daily ensuring that each search is current.

A: No. They check the information on their behalf. Dealers have an independent responsibility to make their own search. Also, for cash deals and outside finance deals, Intellimenu^TM checks your customer against the SDN list.

*IntelliMenu provides training and policy guidance, not specific legal advice."