FinCEN Reporting Requirement

By: Katherine M. Macol, Esq.

In an effort to bring greater transparency to applicable non-financed real estate transactions involving specified trusts and legal entities and reduce financial crime, implementation of the U.S Department of Treasury’s Financial Crimes Enforcement Network’s (FINCEN) Residential Real Estate Rule will take effect on March 1, 2026.

The new reporting requirement will require, on a nationwide basis, select real estate professionals (i.e. attorneys, title agents and/or escrow agents etc.) to file a detailed Real Estate Report Form with FINCEN and keep records in connection with reportable non-financed real estate transactions that close on or after March 1, 2026.  The Real Estate Report Form requires information about the real property being transferred in addition to information about the purchaser, seller, beneficial owners and the source of funds. 

Willinger, Willinger & Bucci PLLC will continue to monitor implementation of the Residential Real Estate Rule and related FinCEN guidance. Please contact us if you have questions about how this rule may apply to you and your transactions.