Important Reporting Requirements – March 1, 2026 FinCEN
Beginning March 1, 2026, a new federal rule issued by the Financial Crimes Enforcement Network (FinCEN) will introduce important reporting obligations for certain residential real estate transactions across Florida. This rule, codified under 31 CFR §1010.821, is designed to increase transparency in real estate purchases involving legal entities and to help combat illicit financial activity.
Under the new regulation, certain residential real estate transactions conducted without institutional lender financing, particularly those in which at least one buyer or transferee is a legal entity, such as an LLC, corporation, partnership, trust, or other non-natural person, may require the filing of a FinCEN Real Estate Report.
To prepare for this change, revised language is expected to be included in the upcoming FR/BAR contract update. The new provisions clarify that if a transaction triggers FinCEN reporting, both the buyer and seller must provide the closing agent with all required information no later than the day prior to closing. This includes full legal names, dates of birth, residential addresses, and taxpayer identification numbers for beneficial owners, as defined by federal law.
The rule also establishes that parties must consent to the closing agent’s collection and submission of this information to FinCEN. Additionally, buyers will be responsible for any costs or fees associated with preparing and filing the report.
At Chiumento Law, we are working closely with title professionals and real estate agents throughout Flagler and Volusia Counties to ensure clients are prepared well in advance of this implementation. If you are involved in a cash or entity-based transaction, now is the time to understand how these requirements may impact your closing timeline. Please don’t hesistate to reach out, as real estate is one of our areas of expertise.
For guidance or questions about compliance, our team is here to help. 386-445-8900 www.legalteamforlife.com.
About the Author
Chiumento Law, PLLC is one of the oldest law firms in Flagler and Volusia counties. The well-respected law firm is a full-service firm, with attorneys providing legal services to individuals, families, and businesses in Florida in a broad range of areas. Our practice areas include Personal Injury Law, Bankruptcy Law, Family Law, Estate Planning, Business and Corporate Law, Real Estate Law, Immigration Law, Elder Law, Criminal Law and Construction Law. The firm has offices in Palm Coast and Ormond Beach and handles both criminal and civil cases. At Chiumento Law, PLLC, we are proud of our long-term commitment to the Flagler and Volusia County community. Our lawyers are all active community members, and many have served in multiple positions in local government and community organizations.