New FinCEN Requirements Relating to Residential Real Estate Put On Hold

As of March 1, 2026, new FinCEN requirements were applicable with respect to transfers of residential real estate which (a) involve a trust or an entity as the purchaser and (b) are not financed by a financial institution.  As the result of the FinCEN requirements, the real estate professional involved in the transaction was required to submit to FinCEN a real estate report which contained information concerning the parties, the property being transferred, and the payments made.  This report was required to be filed by the date which is 30 days after the closing.  However, as the result of a decision on March 19, 2026 by a federal district court in Texas, these regulations have been vacated in their entirety, and the rule is not currently enforceable. 

We will update this posting in the event of any appeal of the recent federal court decision.