Resources

Client Alerts, News Articles, Blog Posts, & Multimedia

Everything you need to know about BMD and the industry.

FinCEN Residential Real Estate Reporting Rule Now in Effect

Client Alert
March 6, 2026

Effective March 1, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has implemented a new Residential Real Estate Reporting Rule. The Rule is designed to combat financial crimes involving bad actors using entities such as LLCs and corporations to anonymously purchase residential property to hide and launder dirty money.  

Under the Rule, certain real estate professionals involved in closings and settlements nationwide are required to report information to FinCEN for non-financed transfers of residential real estate. If reporting is required, a Real Estate Report must be filed with FinCEN.

When Reporting Is Required

Reporting generally applies when the following are true:

  • The Transfer involves Residential property: A structure intended for occupancy by one to four families or land where such a structure will be built.
  • Non-financed transfer: No loan or mortgage is provided by a financial institution that is subject to anti-money laundering requirements.
  • Transfer to an entity or trust: Transfer of property is to an entity or trust instead of an individual.
  • No exception to the rule applies.

There is no minimum dollar amount for a covered transaction, and any transfer of ownership by sale or gift can qualify. If a report is required, it must be filed with FinCEN by the end of the month in which the closing occurred or within 30 days, whichever is later. Civil and criminal penalties for not filing can be significant and may include fines of up to $250,000 and imprisonment for willful and repeated violations.

Information Required for the Report

If reporting is required, information may need to be collected regarding:

  • The reporting person.
  • The residential real property being transferred.
  • The transferee entity or transferee trust.
  • The beneficial owners of the transferee entity or transferee trust.
  • Certain individuals representing the transferee entity or transferee trust in the transfer.
  • Any trustee that is an entity, if the transferee is a trust.
  • The transferor.

Exemptions

Some types of transfers are exempt, including:

  • Transfers resulting from death.
  • Transfers incident to a divorce or dissolution.
  • Transfers made to a person’s trust, where the trust is for the benefit of that person or their spouse.

Transfers to certain highly regulated transferees are also exempt from the definition of a transferee entity, including transfers to certain government entities, securities brokers or dealers, banks, and credit unions.

If you are involved in a non-financed transfer of residential real estate, you may be required to provide certain information so the appropriate report can be filed with FinCEN. If you have questions about how this rule may affect your transaction, please contact BMD Member Blake Gerney at brgerney@bmdllc.com.

Real EstateFinCENBlake R. Gerney
Client Alert

Medicare Updates: Prior Authorizations and Physician Fee Schedule

September 8, 2025The Centers for Medicare & Medicaid Services (CMS) has announced two key updates effective January 1, 2026: a six-state prior authorization pilot program targeting high-risk services under the WISeR Model, and proposed revisions to the Physician Fee Schedule (PFS) that include increased payment rates, expanded telehealth coverage, and updated policies for chronic care, behavioral health, and rural providers.Client Alert

USCIS Policy Updates: Implications for Business Immigration

August 20, 2025In August 2025, USCIS issued three key policy updates enhancing vetting, good moral character (GMC) evaluations, and scrutiny of "anti-American" conduct in immigration adjudications. These policy memos will impact employers sponsoring foreign workers, including H-1B, L-1, EB visas, adjustments, and naturalization.Client Alert

Ohio Passes Antidiscrimination Provision for CRNA Reimbursement

August 14, 2025Ohio has passed House Bill 96, introducing a provider nondiscrimination provision that requires health plans to reimburse certified registered nurse anesthetists (CRNAs) at the same rate as physicians for the same services. The law aims to improve patient access to care by eliminating payment discrimination against CRNAs and will take effect on September 30, 2025.Client Alert

Ohio Board of Pharmacy | Administrative Code Rule Changes

July 16, 2025The Ohio Board of Pharmacy (“BOP”) recently posted notices of Ohio Administrative Code rule changes related to record keeping and the sale and distribution of certain ephedrine-containing products.Client Alert

A Shift in Coverage: HHS Reinterprets “Federal Public Benefit” Under PRWORA

July 16, 2025The U.S. Department of Health and Human Services rescinded a 1998 interpretation of “federal public benefit” used in the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA) on July 10, 2025. This notice removes "outdating exclusions" and includes additional programs under “federal public benefit."
Older posts
Newer posts