Ready or Not: Preparing for the FinCEN Final Rule
As the December 1, 2025, effective date for FinCEN’s Final Rule approaches, both the real estate industry and FinCEN have been actively preparing for its implementation. Our sponsor, Alliant National Title Insurance Company, provides a detailed look at these developments in their article, “Ready or Not: Preparing for the FinCEN Final Rule.” Here are some key updates:
What Has the Industry Been Up To?
Legal Challenges:
- On April 14, 2025, East Texas Title filed a lawsuit arguing that the rule violates constitutional rights, including the Fourth Amendment and the separation of powers.
- On May 20, 2025, a national underwriter filed a similar lawsuit, claiming the rule exceeds FinCEN’s statutory authority and imposes unreasonable burdens on businesses.
- ALTA has formally appealed to the Office of Management and Budget (OMB), asking for the rule to be rescinded unless changes are made to reduce its impact on small title companies.
Preparation Efforts:
- ALTA has created working groups to develop information collection forms to meet the rule’s requirements, which include 111 distinct data fields.
- Training resources, such as webinars and a FinCEN Bootcamp, have been launched to help title agents and their partners prepare for compliance.
What Has FinCEN Been Up To?
In November 2024, FinCEN released a proposed draft report form to implement the Final Rule. This form outlines the extensive data fields required for compliance.
On June 5, 2025, FinCEN submitted the Real Estate Report (RER) information collection request to the OMB for review. “By law, an agency cannot collect information without displaying a valid OMB number, so this is another required step as FinCEN moves forward with its plans for a final report form.”
The public comment period remains open until July 7, 2025.
Read the full article from Alliant National Title Insurance Company here.
