New Federal Requirement:
As of March 1, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has implemented a new nationwide reporting mandate to increase transparency in the real estate market.
What is changing?
For the first time, federal law requires a Real Estate Report for specific high-risk transactions. This primarily affects “non-financed” transfers—commonly known as all-cash purchases—where the buyer is a legal entity (such as an LLC or Corporation) or a trust.
Does this apply to you?
If you are purchasing a residential property (including condos, townhouses, or possibly houseboats) using an entity or trust and without a traditional bank mortgage, you will be required to provide:
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Beneficial Ownership Information (BOI): Identifying the actual individuals who own or control the entity.
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Verified Identification: Legal names, dates of birth, and residential addresses for all beneficial owners.
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Transaction Transparency: Details regarding the property and the source of funds used for the purchase.
Why trust a Certified Specialist?
While the responsibility for filing this report typically falls on the closing professional (escrow or title), the Seller and Buyer are responsible for providing accurate data. Failure to comply can result in significant civil and criminal penalties and, more importantly, can cause unexpected delays at the closing table.
I have integrated these 2026 federal compliance standards into my client intake process. I ensure that all reporting requirements are handled securely and early, so your all-cash or entity-based transaction remains seamless and protected.
My Contact Info:
Email: aliciae@windermere.com
Cell: 206.446.1952
Websites: aliciaewbank.withwre.com & Sellmycondo.org
