**The FinCEN reporting requirement is currently on hold.**

Current information about the rule can be found here:  https://www.fincen.gov/rre

 

What is FinCEN Reporting?

FinCEN reporting under the Real Estate Reporting Rule refers to the requirement to report certain non‑financed residential real estate transactions to the Financial Crimes Enforcement Network (FinCEN) when the buyer is a legal entity or trust.

This aims to enhance transparency and combat financial crimes by preventing the use of anonymous entities or trusts to purchase residential real estate with illicit funds.

How Guaranty handles FinCEN reporting

  • Early identification of potentially reportable transactions at order opening, with continued monitoring if details change.
  • Secure digital collection of required buyer and seller information.
  • Coordination with real estate agents, attorneys, lenders, and other title partners.
  • Timely filing of the required Real Estate Report and retention of filing confirmation.

Our experience & commitment to FinCEN compliance

  • Established FinCEN workflows integrated into daily closing operations.
  • Company‑wide and role‑specific FinCEN training for closers, operations staff, and leadership.
  • Ongoing education for realtors, attorneys, lenders, and investors to set expectations early.
  • Use of secure technology to protect sensitive information while maintaining accountability.
  • FinCEN reporting is an established process at Guaranty, not a last‑minute requirement.

When a transaction may be reportable

  • The transfer is non‑financed (cash, private lending, hard‑money lending, or seller financing).
  • The property is residential real estate (1–4 family, condominium, co‑op, or land intended for residential construction).
  • The buyer/transferee is a legal entity or trust rather than an individual.
FinCEN not needed.

What information may be required

  • Basic transaction and property details.
  • Buyer/transferee information, including beneficial ownership details for entity or trust buyers.
  • Seller/transferor information.
  • Payment and funding information.

How you can help avoid delays

  • Submit orders and party contact information as soon as an offer is accepted.
  • Be prepared to provide entity or trust ownership and signer information when requested.
  • Respond promptly to secure information requests.
  • Notify us immediately of any changes to buyer type, financing, or intended property use.