August 28, 2024
FinCEN Issues Final Rule on Reporting Requirements for Certain All-Cash Residential Real Estate Transfers
GTO reporting expanded to all markets nationwide
Final rule effective Dec. 1, 2025
FinCEN's initial analysis of how the final rule differs from the rule proposal
"FinCEN is issuing a final rule that generally adopts the framework set out in the proposed rule but makes certain modifications and clarifications that are responsive to comments. The final rule imposes a reporting requirement on “reporting persons” that are involved in certain kinds of transfers of residential real property. In response to comments, the rule adopts a reasonable reliance standard, allowing reporting persons to, in general, reasonably rely on information obtained from other persons. FinCEN has also made other amendments in the final rule that are intended to clarify and simplify the reporting requirements, such as clarifying the definition of residential real property.
"Additionally, the rule excludes several additional transfers [contemplated in the rule proposal] from needing to be reported, including one designed to exempt certain transfers commonly executed for estate and tax planning purposes. FinCEN also limited the requirement to retain certain records."
Review more of this summary from FinCEN and the final rule in Federal Register »
The analysis above was produced by FinCEN. Detailed analysis from TLTA and educational materials are in development. We'll alert you when those resources are available.
TLTA members: What should you know?
These reporting and compliance requirements will have a significant impact on you and your business when handling cash transactions. You should consult with legal counsel to ensure you fully understand your obligations under this new rule.
TLTA will produce detailed analysis and educational programming to help guide you as you prepare for this new rule.
Learn more from FinCEN
Read FinCEN's press release
Review final rule in Federal Register
Review FinCEN's fact sheet
Review FinCEN's FAQs
TLTA's comments in response to initial rule proposal
Review TLTA comments to FinCEN's proposed rule
Additional background from TLTA
TLTA page with background info
Questions or comments?
If you have questions, please send them to
Aaron Day or call Aaron at 512.810.8800, thank you.