02/24/2026
π¨ ATTN: NY Real Estate Professionals β FinCEN Rule Starts March 1st
In just 5 days, the "Residential Real Estate Rule" goes into effect across New York. If you handle non-financed (all-cash) residential transfers, your reporting obligations are about to change.
We've published a full breakdown to help our local community stay compliant, covering:
β
The Reporting Cascade: Who is legally responsible for filing the report?
β
Covered Transactions: What counts as "non-financed"?
β
Designation Agreements: How to formally assign reporting duties.
π Read the Full Compliance Guide Here: https://www.ayleelaw.com/post/new-fincen-real-estate-reporting-rule-what-new-york-real-estate-professionals-need-to-know
This isn't just a "best practice"βit's a federal requirement with significant penalties for non-compliance. Let's make sure we're ready for Sunday.