NDBA - North Dakota Bankers Association
11/13/2024 | Press release | Distributed by Public on 11/13/2024 09:47
FinCEN Seeks Feedback on Real Estate Reporting Form
The Financial Crimes Enforcement Network announced it is soliciting public feedback on the proposed form it will use to collect information about certain real estate transfers under a new rule finalized earlier this year.
FinCEN in August issued a final rule requiring select real estate professionals to submit reports and keep records about certain high-risk, non-financed transfers of residential real property to specified legal entities and trusts. The new requirements take effect Dec. 1, 2025. The agency is now collecting public feedback on the form that will be used to collect that data. Comments must be received by Jan. 13, 2025.
To read more, visit: https://www.fincen.gov/news/news-releases/fincen-requests-comments-proposed-form-compliance-residential-real-estate-rule
FinCEN in August issued a final rule requiring select real estate professionals to submit reports and keep records about certain high-risk, non-financed transfers of residential real property to specified legal entities and trusts. The new requirements take effect Dec. 1, 2025. The agency is now collecting public feedback on the form that will be used to collect that data. Comments must be received by Jan. 13, 2025.
To read more, visit: https://www.fincen.gov/news/news-releases/fincen-requests-comments-proposed-form-compliance-residential-real-estate-rule