Featured Resources
TitleNews Article
Latest News on FinCEN Enforcement
A judge in the Eastern District of Texas issued a ruling vacating the FinCEN Residential Real Estate Rule in its entirety. In the ruling, the court found that FinCEN exceeded its statutory authority under the Bank Secrecy Act and ordered the rule be set aside.
ALTA Insights Webinar
Learn How Proposed Real Estate Anti-Money Laundering Rule Impacts You
Listen to this webinar recording to learn more about the proposed rule, the impact it will have on title and settlement agents, and ALTA’s advocacy effort.
TitleNews Article
Analysis of the Rule
ALTA breaks down various parts of the proposal to help members understand compliance requirements. Topics will address various parts of the rule, including what must be reported, the types of transactions and properties impacted, who must report the information, what information must be reported, when must data be reported and costs.
In the News
Breaking Down the FinCEN Anti-Money Laundering Rule: When Do you Have to Report a Transaction
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking that would require certain people involved in real estate closings and settlements to report information to the agency about all-cash residential transactions nationwide involving legal entities and trusts. You can read a summary of the proposed rule's requirements here.
Treasury Issues Proposed Real Estate Anti-Money Laundering Rule
FinCEN intends to issue a Notice of Proposed Rulemaking to address anti-money laundering threats in the U.S. real estate sector in April, the Department of the Treasury indicated on its website.
Deputized to Help Prevent Money Laundering?
FinCEN notice of proposed rulemaking requires certain people involved in real estate closings and settlements to report information to the agency about all-cash residential transactions nationwide involving legal entities and trusts. All-cash transactions accounted for 28% of all transactions in 2023, according to the National Association of Realtors. FinCEN has proposed that the rule would go into effect one year after the final rule is issued.
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FinCEN ALTA Resources
Access reporting forms to comply with FinCEN requirements—some resources are available only to ALTA members and policy forms license holders and are included with your current membership or license, while non-members may purchase access to the resources below by logging in or creating an account.