F
inCEN has pushed back the start of its residential‑real‑estate reporting rule, granting all reporting parties a pause from September 30 to March 1 2026. The rule, issued by the Biden administration in August 2024, had been scheduled to take effect on December 1. It requires cash‑transaction and legal‑entity buyers to file detailed reports that include the beneficial owners of the purchasing entity, a requirement that could generate between 800,000 and 850,000 filings.

    The postponement follows a lawsuit by Fidelity National Financial, the nation’s largest title‑insurance producer, and an amicus brief from the American Land Title Association (ALTA) filed earlier this month. ALTA argued that the rule would impose heavy financial and compliance costs on the roughly 90 % of title firms that are small businesses, and that the industry needed more time to develop the necessary procedures. ALTA’s CEO, Chris Morton, said the delay acknowledges legitimate concerns raised by members and Congress.

    FinCEN, acting under Treasury Secretary Scott Bessent, issued the order on Treasury letterhead, noting that the exemption aligns with the administration’s goal of easing unnecessary regulatory burdens. The agency also released a reference‑only PDF of the reporting form, still dated for December 1, indicating the rule may remain in force after the extension. The order also specifies that the exemption is meant to allow firms to develop the necessary policies, procedures, and processes for compliance. FinCEN’s release of the form, labeled “for reference purposes only,” underscores that the rule remains active while the extension is in place.