1. Short title This Act may be cited as the Holding Iranian Leaders Accountable Act of 2020 . 2. Findings The Congress finds the following: (1) Iran is characterized by high levels of official and institutional corruption, and substantial involvement by Iran’s security forces, particularly the Islamic Revolutionary Guard Corps (IRGC), in the economy. (2) In 2019, the Department of the Treasury concluded that Iran is a jurisdiction of primary money laundering concern and imposed restrictions on correspondent accounts in the United States involving Iranian financial institutions. (3) In June 2019, the Financial Action Task Force (FATF) urged all jurisdictions to require increased supervisory examination for branches and subsidiaries of financial institutions based in Iran. The FATF later called upon its members to introduce enhanced relevant reporting mechanisms or systematic reporting of financial transactions, and require increased external audit requirements, for financial groups with respect to any of their branches and subsidiaries located in Iran. (4) The Transparency International index of perceived public corruption ranks Iran 138th out of 180 countries surveyed. (5) According to the State Department’s Country Reports on Terrorism in 2018, Iran remains the world’s worst state sponsor of terrorism. The regime has spent nearly one billion dollars per year to support terrorist groups that serve as its proxies and expand its malign influence across the globe. Tehran has funded international terrorist groups such as Hizballah, Hamas, and Palestinian Islamic Jihad. . 3. Report on financial institutions connected to certain Iranian officials (a) Financial institutions report (1) In general Not later than 180 days after the date of the enactment of this Act, and annually thereafter for 2 years, the President shall submit a report to the appropriate Members of Congress containing— (A) the estimated total funds held in financial institutions that are under direct or indirect control by each of five or more of the