Earlier this month, a rule from the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) went into effect. The rule was designed to increase transparency around certain residential real estate purchases, particularly cash transactions involving entities or trusts.
For buyers, sellers, and agents, there is no immediate change to the closing process. Transactions are continuing as usual, without additional federal reporting requirements tied to this rule.
That said, this situation is still evolving. Appeals or further legal action could reinstate or reshape the rule, meaning requirements could change again in the future.
While the rule is vacated, we have paused FinCEN reporting and the collection of related information. We are continuing to monitor the situation and will provide updates as needed.
We remain prepared to adapt quickly if anything changes. Our focus remains the same—providing a closing experience that is simple, predictable, and personal, no matter the regulatory environment.
If you have questions about how this may impact a specific transaction, our team is always here to help.