The Treasury Department finalized rules Wednesday on reporting requirements for certain real estate transactions in an effort to crack down on money laundering in the US residential real estate sector.
The rules (RIN:1506-AB54) detail circumstances in which a report must be filed, who must file a report, what information must be provided, and when a report is due. Treasury’s Financial Crimes Enforcement Network, or FinCEN, issued the proposed regulations in February.
“The illicit use of the residential real estate market threatens US economic and national security and can disadvantage individuals and small businesses that seek to ...
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