02/11/2026
Starting March 1, title companies will be REQUIRED to collect very detailed information from both SELLERS and BUYERS on specific transactions in order to combat fraud/money laundering per the FINCEN rules and regulations.
These specific transactions must meet all three of these elements:
1) cash sales
2) into an entity such as an LLC or trust
3) for Residential Property.
** Subject to some exemptions
Here is the form that every title company closing one of these transactions must now fill out:https://www.fincen.gov/system/files/2025-09/RER-Form-508C.pdf
We are subject to serious penalties if we do not report, therefore we will not close until we get the information from both buyers and sellers on the FinCen reportable transactions.
Of course, we will let you know asap if any transaction is subject to FinCen reporting and do everything we can to make this as easy and seamless as possible.
