02/24/2026
Agent on the Street
Episode 24: What to Know about FinCEN
Call from the Agent 📞:
Sure, it is actually pretty simple. FinCEN goes into effect for certain closings occurring on or after March 2nd. The U.S. Department of the Treasury, through FinCEN (the Financial Crimes Enforcement Network), has adopted a rule requiring that certain information be collected and reported to the U.S. Department of the Treasury in residential real estate transactions in which:
• the buyer is an entity (such as an LLC) or a trust;
• the property is residential (homes, condos, residential lots and 1-4 family dwellings); and
• the transaction is not financed through a traditional bank or institutional lender**
**in other words, cash or seller-financed transactions
Click below to read more about this..
https://scottumstead.com/agent-on-the-street/
