In a resolution adopted unanimously by the 15-member council, the world body has threatened to publicly name and shame countries that do not comply by 31 March.
"That is a strong signal so that counties do what they have to do," Chile's ambassador and current council president Heraldo Munoz said.
The Security Council stipulated that nations must submit reports to the UN on how they are enforcing sanctions against al-Qaida and the Taliban.
Around 100 nations, more than half of the UN's membership, have so far failed to report as required.
One diplomat said it was "unlikely" that nations were enforcing the sanctions and then not filing the reports.
Other diplomats said one mail goal of the resolution passed was to help implement the existing sanctions, which include an arms embargo, travel ban and assets freeze.
Munoz said the resolution calls on nations to go beyond the simple monitoring of bank accounts and to examine charities, property and all means used to transfer money.
"The idea is to renew efforts not only to freeze assets and resources, but very specific reference is made to properties, to concrete resources other than bank accounts," Munoz said.