---
title: What the FinCEN Final Rule Means for You
description: FinCEN has issued a final rule requiring industry professionals to report info about non-financed transfers of residential real estate to a legal entity or trust.
---

[SoftPro Blog](https://blog.softprocorp.com)

# [What the FinCEN Final Rule Means for You](https://blog.softprocorp.com/what-the-fincen-final-rule-means-for-you)

 Written by [SoftPro](https://blog.softprocorp.com/author/leslie.wyattsoftprocorp.com) | 4/23/25, 2:52 PM

In August 2024, FinCEN issued a [final rule](https://www.fincen.gov/news/news-releases/fincen-issues-final-rules-safeguard-residential-real-estate-investment-adviser) requiring industry professionals to report information to FinCEN about non-financed transfers of residential real estate to a legal entity or trust. What does this mean for you? In a nutshell…

- Effective [March 1, 2026](https://blog.softprocorp.com/fincen-aml-rule-postponement) – comment period ended January 13, 2025.
- Requires a closing/settlement agent in a covered transaction to complete and submit to FinCEN a Real Estate Report with specific information about the transaction. The report must be completed by: 
    - Whoever prepares the settlement statement
    - In a split-closing, whoever prepares the buyers settlement statement
- Applies to all transactions involving the cash purchase of residential real estate in the U.S., and all territories, where the buyer is a legal entity or applicable trust. 
    - Cash, seller-financed transactions, or lines of credit involving a loan by a bank that is not required to have an anti-money laundering program are treated as non-financed transfers that potentially must be reported.

- Reports must be filed by the later date of either: (1) the final day of the month following the month in which the reportable transfer occurred; or (2) 30 calendar days after the date of closing.
- Expected required information for reporting:  
    - Information on the reporting person
    - Closing date
    - Property address and full legal description
    - Transferee/Buyer information
    - Person(s) associated with the transferee (authorized signers and beneficial owners)
    - Transferor/Seller information
    - If the Transferor is Trust, provide the trustee’s information
    - Purchase price
    - Payment Information, including bank account details for sourcing funds
    - Detailed payment information for payments made on behalf of the Transferee/Buyer

FinCEN has not yet issued the final version of the Real Estate Report form.

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[View full post](https://blog.softprocorp.com/what-the-fincen-final-rule-means-for-you)

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