NEW FinCEN Rule: What Residential Realtors Need to Know By Marsha Grosman, GDREIA Member - Tuesday, September 9, 2025 0 Comments www.firstohiotitle.comWho is FinCEN? FinCEN (Financial Crimes Enforcement Network) is a bureau of the U.S. Treasury tasked with protecting the financial system from money laundering, terrorism financing, and other financial crimes. What’s Happening on December 1, 2025? A new nationwide rule goes into effect requiring the reporting of certain all-cash residential real estate transfers to legal entities or trusts. This replaces older, localized reporting requirements. What Does It Cover? Non-financed (cash) purchases of 1–4 unit residential properties When the buyer is a legal entity (LLC, Corporation, or Trust) Includes sales, gifts, and some transfers unless exempt What Must Be Reported? Property address and details Name of the buyer (transferee) and their beneficial owners Purchase price and payment method Name of the seller (transferor) When Is It Due? Reports must be filed by the later of: 30 days after closing, or The last day of the following month Why It Matters to Realtors Entity buyers may need extra time to gather documentation Title or closing agents may request info from you or your client Understanding the rule helps prevent delays and confusion What Realtors Should Do Now Ask early: “Is your buyer using a trust or LLC?” Inform clients that ownership details may need to be disclosed Partner with title companies familiar with FinCEN rules Stay updated as more guidance becomes available Refer this blog post to your friends and colleagues... Share Tweet