Will Your Closing Trigger FinCEN Reporting? 4 Questions to Know Before March 1, 2026 скачать в хорошем качестве

Will Your Closing Trigger FinCEN Reporting? 4 Questions to Know Before March 1, 2026

A new federal real estate reporting rule is coming — and when it applies, the closing won’t happen without compliance. Starting March 1, 2026, FinCEN’s Residential Real Estate Rule requires certain real estate professionals involved in closings/settlements to file a Real Estate Report for certain non-financed transfers of residential real estate to legal entities or trusts (with exceptions). In this video, Iowa real estate attorney Jeremy Danilson breaks the rule down in plain English — so you know when it applies, what’s required, and why it’s bigger than most people think. The 4 questions that decide everything Is the property residential? Is the transaction “non-financed”? (Not just cash — it can include transactions without a traditional institutional lender that already has federal AML obligations.) Is the buyer an entity or a trust? Does an exception apply? (Examples can include certain transfers tied to divorce, death, bankruptcy, or a qualified intermediary in a 1031 exchange.) What information is required? If the rule applies, the report includes details about the transfer — and critically, beneficial ownership information (the real people behind the entity/trust). FinCEN expects this information to be handled securely. Penalties (why you can’t “deal with it later”) FinCEN’s guidance notes civil penalties for negligent violations and civil + criminal penalties for willful violations (including potential fines and imprisonment). How we protect sensitive information at Danilson Law At Danilson Law, we use ClosingLock as visible proof of safety — a secure, encrypted portal to protect sensitive closing information (and to avoid “random emails” and unsecured attachments). That security-first approach is exactly what this new compliance environment demands. If this helped you, share it — most people haven’t heard of this yet. (515)512-5500