Data / Federal rules / 2024-02565

Anti-Money Laundering Regulations for Residential Real Estate Transfers

The Financial Crimes Enforcement Network published this proposed rule in the Federal Register on February 16, 2024. Comments closed on April 16, 2024.

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What the agency says

FinCEN is issuing a proposed rule to require certain persons involved in real estate closings and settlements to submit reports and keep records on identified non-financed transfers of residential real property to specified legal entities and trusts on a nationwide basis. Transfers made directly to an individual would not be covered by this proposed rule. The proposed rule describes the circumstances in which a report must be filed, who must file a report, what information must be provided, and when a report is due. These reports are expected to assist the U.S. Department of the Treasury; Federal, State, and local law enforcement; and national security agencies in addressing illicit finance vulnerabilities in the U.S. residential real estate sector and to curtail the ability of illicit actors to anonymously launder illicit proceeds through the purchase of residential real property, which threatens U.S. economic and national security.

Key facts

Document number: 2024-02565
Type: Proposed rule
Action: Notice of proposed rulemaking
Agency: Treasury Department; Financial Crimes Enforcement Network
Published: February 16, 2024
Comments due: April 16, 2024
Dates: Written comments on this proposed rule must be submitted on or before April 16, 2024.
Regulation ID (RIN): 1506-AB54
Topics: Administrative practice and procedure; Aliens; Authority delegations (Government agencies); Bankruptcy; Brokers; Buildings and facilities; Business and industry; Citizenship and naturalization; Condominiums; Cooperatives; Currency; Electronic filing; Estates; Fair housing; Federal home loan banks; Foreign investments in U.S.; Foundations; Holding companies; Home improvement; Homesteads; Housing; Indians; Indians-law; Indians-tribal government; Insurance companies; Investigations; Investment companies; Law enforcement; Lawyers; Legal services; Low and moderate income housing; Mortgage insurance; Mortgages; Penalties; Privacy; Real property acquisition; Reporting and recordkeeping requirements; Securities; Small businesses; Taxes; Terrorism; Time; Trusts and trustees; Zoning
Significant: Yes, under Executive Order 12866
Pages: 47

The document on federalregister.gov PDF

Other documents from the Financial Crimes Enforcement Network

Document	Type	Published
Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets; Withdrawal 2026-20430 · significant	Proposed rule	Oct 6
Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern; Withdrawal 2026-20429 · significant	Proposed rule	Oct 6
Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents 2026-20371	Proposed rule	Oct 5
Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border 2026-18194	Final rule	Sep 4
Proposal of Special Measure Regarding Banque Misr UAE as a Financial Institution Operating Outside of the United States of Primary Money Laundering Concern 2026-17871	Proposed rule	Sep 1
Beneficial Ownership Information Reporting Requirement Revision 2026-16576 · significant	Final rule	Aug 14
Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota 2026-16365	Final rule	Aug 11
Proposed Amendment to the Definition of Huione Group, a Financial Institution Operating Outside the United States of Primary Money Laundering Concern; Extension of Comment Period 2026-15030	Proposed rule	Jul 24

Everything from the Financial Crimes Enforcement Network · Rules on administrative practice and procedure · Rules on aliens · Rules on authority delegations (government agencies) · Published in February 2024

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