Good News!
Today FinCEN announced that it will postpone reporting requirements of the Anti-Money Laundering Regulations for Residential Real Estate Transfers Rule (RRE Rule) until March 1, 2026.
FinCEN is taking this step to provide industry with more time to comply—consistent with the Administration’s agenda to reduce compliance burden—while still adequately protecting the U.S. financial system from money laundering, terrorist financing, and other serious illicit finance threats.
In the interim, any Real Estate Geographic Targeting Orders will remain in effect.
Click here to view the Exemptive Relief Order.
While we all appreciate the implementation delay, the reporting rule is still the law, and we all need to be prepared to implement this complex reporting requirement well in advance of the new March 1 effective date.
While many of us started developing our data capture plans using the ALTA forms, FINCEN has finally released the official reporting form: FinCEN Reporting Form Example
If you have any questions, please reach out to Stephen M. Flatow, Counsel, Vested Land Services LLC.
FinCEN, AML Rule, Real Estate Transfers, Residential Real Estate, Anti-Money Laundering, Compliance, Reporting Rule, RRE Rule, Geographic Targeting Orders, ALTA forms
