Description

As of December 1, 2025, the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) requires that certain residential real estate transactions purchased with all cash or without institutional lender financing, where at least one buyer/transferee is a legal entity, LLC, corporation, partnership, trust, trustee or other non-natural person, must be reported to FinCEN. During this session, Cheri Hipenbecker, General Counsel with Knight Barry Title, will cover what transactions are reportable, who has to report, the contents of the report and the civil and criminal penalties that can be imposed for failure to report. Heads up - FinCEN estimates an average of 2 hours per reportable transfer to collect and review transferee and transfer-specific reportable information, and an average of 30-minutes to complete the reporting, which could cause delays to your closing. Join the session and learn the tips and tricks to keep your closing on track.