FinCEN Finalizes New Residential Real Estate Reporting Rule
FinCEN Finalizes New Residential Real Estate Reporting Rule
The U.S. Treasury Financial Crimes Enforcement Network (FinCEN) has finalized a new Residential Real Estate Rule (RRER) that requires the reporting of certain “non-financed” transfers of residential real estate where the purchaser is a legal entity or trust. This new reporting requirement begins March 1.... By: Steptoe & Johnson PLLC