FinCEN Final Rule: New Residential Real Estate BOI Reporting Requirements, Compliance Obligations, Industry Impact
Nationwide Scope, Covered Entities and Property Transfers, Exemptions, Penalties, CTA Interaction, and More

Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Real Property - Transactions
- event Date
Thursday, December 19, 2024
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE webinar will guide practitioners through the Department of the Treasury's Financial Crimes Enforcement Network's (FinCEN) long-awaited final rule to increase transparency in non-financed residential real estate transactions that will significantly impact covered real estate entities with extensive new reporting obligations. The panel will address who is covered by the new rule, the reporting requirements, and best practices to prepare for compliance.
Faculty

Mr. LaViña is Barnes & Thornburg’s Real Estate department chair. As a trusted business lawyer and adviser, he closes complex transactions and provides strategic advice to his many successful clients. With more than three decades of experience, Mr. LaViña serves as a battle-tested leader who listens attentively and executes client objectives swiftly, whether closing a multistate marquee deal or fixing a local problem. Clients turn to him for guidance with their deal ventures and he has closed or supervised transactions totaling nearly $15 billion dollars over the past decade. Mr. LaViña is a skilled negotiator and communicator with deep experience in virtually all areas of real estate, including acquisitions and sales, joint ventures, multifamily transactions, 1031 exchanges, real estate fund formation, development and construction, public-private and multistate matters, and he is even a licensed broker that works on his own deals. Mr. LaViña also represents developers, builders, brokers, sellers and buyers of high-end residential properties in California, including family offices, high net worth individuals, celebrities, athletes, and others. He is an invited guest speaker throughout the business community on real estate, finance, forecasting and business development topics.

Ms. Olman-Pal advises foreign and U.S. financial institutions on a broad range of regulatory matters including licensing, acquisitions, divestitures, compliance with Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations, and compliance with Office of Foreign Assets Control (OFAC) sanctions programs. She counsels a wide range of companies in the financial services sector including, domestic and foreign banks, gaming companies, money services businesses including money transmitters, cryptocurrency businesses, Fintech companies and digital payment companies. Throughout her career, Ms. Olman-Pal has represented clients before U.S. regulators such as the Federal Reserve, OCC, FDIC, FinCEN, OFAC, the Florida Office of Financial Regulation and other state supervisory authorities. She also regularly develops anti-money laundering programs for a wide range of financial services businesses and non-financial services businesses including, U.S. and foreign companies active in industries such as real estate, hospitality, automotive and artificial intelligence, among many others.

Mr. Halpern represents corporations and individuals in investigations and prosecutions spanning a breadth of criminal issues. He has litigated complex criminal and civil matters, but a substantial portion of his defense practice entails engaging with prosecutors and regulatory lawyers to resolve federal and state criminal and agency investigations for his clients away from the public spotlight. Mr. Halpern represents corporate and individual clients in internal and government investigations in a wide array of criminal, cross-border and compliance issues. Business and educational institutions and individuals turn to Mr. Halpern to represent them in a broad array of matters encompassing financial services; cybersecurity; Foreign Corrupt Practices Act; false claims and other healthcare matters; securities, commodities, and tax, among other issues. He represents clients in federal and state court, as well as in matters involving U.S. Attorney's Offices, New York State Attorney General's Office, New York County District Attorney's Office, U.S. Department of Justice, U.S. Department of the Treasury, SEC, and Commodity Futures Trading Commission. Mr. Halpern is a seasoned litigator who draws on his extensive experience in a wide array of white collar criminal defense matters and as a former federal prosecutor in the Southern District of New York.
Description
In its ongoing efforts to combat and deter money laundering, FinCEN recently issued its long-awaited final rule, effective Dec. 1, 2025, that extends anti-money laundering reporting requirements to the residential real estate sector nationwide and increases the transparency of certain non-financed real estate transactions.
The final rule covers businesses, including attorneys, performing specified closing or settlement functions for the non-financed sale or transfer of residential real property to a legal entity or trust. The final rule requires a reporting person, as identified in a reporting cascade, to collect and report certain information related to the transaction to FinCEN in a Real Estate Report. The Real Estate Report is more extensive than the Beneficial Ownership Report filed under the Corporate Transparency Act (CTA), although it will contain some of the same information.
Reportable information includes beneficial ownership information for the legal entity (transferee entity) or trust (transferee trust) receiving the property, information about individuals representing the transferee entity or transferee trust, information about the residential real property being sold or transferred, information about the transferor/seller, and information about any payments made.
Real estate counsel and clients should understand the extensive reporting requirements, including required reporting persons, reportable transfers of property, and reportable transferees, in order to perform the due diligence required and put processes in place to prepare for reporting obligations.
Listen as our expert panel guides practitioners through the FinCEN final rule and discusses the impact the reporting requirements will have on covered real estate businesses. The panel will address the interaction the new rule may have with the CTA and offer best practices for taking steps now to prepare for compliance.
Outline
- Introduction to the final rule
- Purpose
- Bank Secrecy Act
- Residential Real Estate GTO Program
- The final rule
- Covered transfers of residential real property
- Reporting requirements
- Reporting persons
- Report filing and recordkeeping
- Exemptions
- Penalties for noncompliance
- Interaction with the Corporate Transparency Act
- Compliance timeline
- Next steps: preparing for compliance obligations
- Practitioner takeaways
Benefits
The panel will review these and other important considerations:
- Who are required reporting entities? Reporting persons?
- What information will be required to be reported?
- Who are the reportable transferees and to what residential real estate transactions does the final rule apply?
- What interaction does the final rule have with the CTA?
- What steps should counsel and their clients take now to prepare for compliance?
Unlimited access to premium CLE courses:
- Annual access
- Available live and on-demand
- Best for attorneys and legal professionals
Unlimited access to premium CPE courses.:
- Annual access
- Available live and on-demand
- Best for CPAs and tax professionals
Unlimited access to premium CLE, CPE, Professional Skills and Practice-Ready courses.:
- Annual access
- Available live and on-demand
- Best for legal, accounting, and tax professionals
Related Courses

Allocating Operating Expenses in Commercial Real Estate Leases: Negotiating Strategies for Landlords and Tenants
Thursday, May 8, 2025
1:00 PM E.T.

Structuring Construction Contracts: Termination for Convenience vs. Termination for Cause
Thursday, May 8, 2025
1:00 PM E.T.

Navigating Eminent Domain Proceedings: Notice Requirements, Negotiation and Appraisal, Just Compensation, and More
Tuesday, April 15, 2025
1:00 PM E.T.
Recommended Resources
Explore the Advantages of Consistent Legal Language
- Learning & Development
- Business & Professional Skills
- Talent Development
How to Build a Standout Personal Brand Without Sacrificing Billable Hours
- Career Advancement