Financial Crimes Enforcement Network reporting required as of March 1, 2026New FinCEN Reporting Rule
What Real Estate Agents and Customers Need to Know
The Financial Crimes Enforcement Network (FinCEN) has issued a new rule, effective March 1, 2026, requiring title companies and closing attorneys to collect and report information about certain non-financed residential real estate transactions.
The Financial Crimes Enforcement Network (FinCEN) has issued a new rule, effective March 1, 2026, requiring title companies and closing attorneys to collect and report information about certain non-financed residential real estate transactions.
What Is the Rule?
This rule applies when residential real estate is being transferred to a legal entity or trust in an all-cash transfer or without a loan from a regulated financial institution. FinCEN aims to increase transparency and prevent the use of real estate for money laundering.
This rule applies when residential real estate is being transferred to a legal entity or trust in an all-cash transfer or without a loan from a regulated financial institution. FinCEN aims to increase transparency and prevent the use of real estate for money laundering.
Why Is This Information Being Collected?
• To comply with the Bank Secrecy Act
• To help law enforcement identify suspicious activity
• To ensure transparency in high-risk transactions
• To help law enforcement identify suspicious activity
• To ensure transparency in high-risk transactions
What Information Will Be Collected?
• Beneficial ownership information
• Identification documents
• Details about the purchasing entity or trust
• Identification documents
• Details about the purchasing entity or trust