Buyers
Guide to FinCEN Reporting for Buyers
What is this required FinCEN report?
A new federal law requires a Dept. of Treasury / FinCEN Real Estate Report whenever a residential property is purchased without a bank loan and the buyer is an entity or trust. This common report applies to closings starting March 1st, 2026 and impacts one million transactions each year. There is no need to worry, the filing will be handled for you by Southern Title’s FinCEN Team from the information you provide. This page will explain what to expect and the video below will walk through the submission process.
What do buyers need to do?
Buyers will submit information about the purchasing entity or trust and its owners or trustees. You’ll receive a secure link from the Southern Title FinCEN Team to enter these details online. The process takes about five minutes and is safer and easier than paper forms. Once submitted, the required report is prepared and filed with FinCEN. No further steps are required.
Can I skip this or will it slow down my closing?
This closing step cannot be skipped. All U.S. settlement agents are required to file FinCEN Real Estate Reports for triggering transactions and cannot close a transaction until the required information is collected. You can review the regulation on FinCEN’s official website. Completing the form will not delay your closing. Just follow the secure link sent to your email and complete the short submission. Guided instructions and support are available in the portal.
What information will I submit?
• For entities purchasing property: provide entity details and list all individuals who own or control 25% or more, or who have significant decision-making authority.
• For trusts purchasing property: list trustees and any individuals with control over the trust, as well as the date the trust was created.
Full details on which owners and trustees to include are available here. Please note: Some sensitive information is required by FinCEN including Social Security numbers for owners and bank account information for the funds used to purchase the property. This information goes to the U.S. Department of the Treasury. Buyers must provide accurate information as federal penalties can occur if false information is provided.