FAQs About FinCEN Reporting Requirements for Non-financed Residential Real Estate Transfers
April 17, 2025
In August 2024, FinCEN issued a final rule requiring certain industry professionals to report information to FinCEN about non-financed transfers of residential real estate to a legal entity or trust. This nationwide reporting framework will replace the GTOs. This rule goes into effect Dec. 1, 2025. Because of potential penalties, it's essential title and settlement companies understand when they need to file a FinCEN report. While FinCEN has provided FAQs, the staff at Knight Barry Title put together additional FAQs after fielding questions from customers about the rule. Want to learn more about what the rule to get prepared for compliance? ALTA will host a two-day virtual bootcamp. Click here for more information and to register.
Contact ALTA at 202-296-3671 or [email protected].