What You Need to Know About the FinCEN Ruling

Our teams are fully prepared to handle the new expanded FinCEN ruling so your closings remain seamless. If your transaction qualifies, our team will reach out to gather the necessary information.

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The new FinCEN ruling goes into effect on March 1, 2026. We will strive to make the process seamless for you and your customers.

FinCEN (Financial Crimes Enforcement Network) is expanding its reporting requirements nationwide in order to help detect and prevent financial crimes. This new rule applies to many types of residential transactions. Below are guidelines and resources to help you and your customers navigate the compliance ruling.

FinCEN Overview

To determine whether your transaction falls under this newly expanded reporting rule, check to see if it meets
all of the following conditions:

–At least one of the buyers is a legal entity, including LLCs, corporations, partnerships, trusts, or similar
entities.

–The transaction involves residential real estate, including single-family homes, townhomes, condos, co-ops,
small multi-family properties (up to 4 units), mixed-use properties, and vacant land intended for a 1-to-4
residential units.

–The purchase is in cash or does not involve financing from a traditional lending institution.

We understand that this new reporting requirement presents a change to our closing process in that our team
members will need to collect additional information about both the buyer and the seller.

If a transaction meets all the specified criteria, the designated reporting party must file a Real Estate Report with FinCEN. This report is due by the later of either: 1) the final day of the month following the month in which the date of closing occurred, or 2) 30 calendar days after the date of closing.