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

Ohio House Bill 537: Proposed Regulations for Midwives and Birthing Centers

January 28, 2026House Bill 537, introduced in the Ohio House of Representatives, proposes a comprehensive regulatory framework for certified nurse-midwives, certified midwives, licensed midwives, and traditional midwives. The legislation would clarify scope of practice, establish licensure standards, and impose new requirements for freestanding birthing centers and home births. Healthcare providers and facilities should be aware of the proposed changes and their potential operational impact.Client Alert

Proposed Health Information Privacy Reform Act Expands Protections Beyond HIPAA

January 26, 2026The Health Information Privacy Reform Act (HIPRA) seeks to extend privacy protections to health data not covered under HIPAA, including data collected by apps and wearables. HIPRA introduces broader definitions of protected health information, strengthens privacy and security requirements, establishes patient notification rights, and sets national de-identification standards. Companies processing health data should monitor developments to ensure compliance.Client Alert

Medicare Updates on Skin Substitutes: LCDs Withdrawn, Payment Changes Take Effect

January 23, 2026Medicare’s planned Final Local Coverage Determinations (LCDs) for skin substitutes were withdrawn in late December 2025, meaning previous coverage rules remain in effect. The 2026 Medicare Physician Fee Schedule introduces a single payment rate of approximately $127.14 for these products. Providers should review implications for diabetic foot and venous leg ulcer treatments.Client Alert

Understanding the Seven Core Elements of an Effective Healthcare Compliance Program

January 22, 2026The Affordable Care Act requires healthcare providers participating in Medicare, Medicaid, and CHIP to maintain an effective compliance program. Guidance from the Department of Health and Human Services and the Office of Inspector General outlines seven core elements that form the foundation of these programs, from written policies and compliance oversight to auditing, training, and corrective action. This alert highlights each element and explains how practices can tailor compliance programs to their size and risk profile while meeting federal expectations.Client Alert

Preventing a Board Investigation

January 21, 2026Healthcare professionals in Ohio are subject to licensing board investigations that can lead to disciplinary action. Staying compliant with regulations, documenting carefully, and operating within your professional scope can help prevent issues. If contacted by a board, working with an attorney is critical to protect your license and rights.
Older posts
Newer posts