Tuesday, November 12, 2024

FinCEN Updates: FinCEN Requests Comments on Proposed Form for Compliance with Residential Real Estate Rule

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FinCEN Requests Comments on Proposed Form for Compliance with Residential Real Estate Rule

Today, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a 60-day notice in the Federal Register concerning the form that select real estate professionals will use to report information about certain residential real estate transfers under the Residential Real Estate Rule. This notice gives the public an opportunity to comment on the reporting form, as well as FinCEN's estimate of the burden involved in the reporting process. Comments must be received on or before January 13, 2025.

News Release: https://www.fincen.gov/news/news-releases/fincen-requests-comments-proposed-form-compliance-residential-real-estate-rule

Federal Register Notice: https://www.federalregister.gov/public-inspection/2024-26262/agency-information-collection-activities-proposals-submissions-and-approvals-real-estate-reports

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