Anti-Money Laundering Regulations for Real Estate Transactions

Title: Anti-Money Laundering Regulations for Real Estate Transactions
Subject: Cash real estate transactions
Agency: FinCEN
Advance notice of proposed rulemaking

FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on potential requirements under the Bank Secrecy Act (BSA) for certain persons involved in real estate transactions to collect, report, and retain information. The systemic money laundering vulnerabilities presented by the U.S. real estate sector, and consequently, the ability of illicit actors to launder criminal proceeds through the purchase of real estate, threatens U.S. national security and the integrity of the U.S. financial system. Accordingly, FinCEN intends to begin the rulemaking process to address such vulnerabilities. As a first step in this rulemaking process, FinCEN is issuing this ANPRM to seek initial public comment on questions that will assist FinCEN in the consideration and preparation of a proposed rule.

FR Doc: 2021-26549; 2022-02593 (comment period extension)
Date proposed: Dec. 6, 2021
Comments due date: Feb. 21, 2022 (extended from Feb. 7; announcement)
Effective date:

Rule compliance date:
Agency release:
Related Reg Report item(s):

Buying a house with cash? Proposal explores reporting requirement to thwart money laundering