The New York Times published a story last week revealing the presence of the plane, which had a small American flag on the tail, in Iran.
Aviation records show the plane is registered to the Bank of Utah through an arrangement in which the bank serves as a trustee for aircraft owners.
Except for some approved activities by the US Department of Treasury, federal regulations prohibit most economic activity between the US and Iran.
Determining if a violation "has occurred is fact specific, and Treasury is unable to comment on this situation," the statement said.
Scott Parkinson, senior vice president for marketing and communication with the Ogden-based bank, confirmed Tuesday morning that the Ghana company Engineers & Planners had been using the Bombardier CL-600.
Parkinson said the Bank of Utah has been cooperating with the State Department and other federal agencies since the plane was spotted in Iran but wouldn't comment further about what those agencies are looking at or to what degree they are investigating.
The company's chief executive is Ibrahim Mahama, the younger brother of Ghanaian President John Mahama.
While the company has said the passengers on the flight were businessmen, initial reports were that it was carrying a governmental delegation, and an anti-corruption group, Ghana Integrity Initiative, has asked the government to explain.
Felix Ofosu-Kwakye, the deputy minister of information, denied on Ghanaian radio Tuesday that the government had sent a delegation to Iran and added that it had not leased any plane from the company.
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