FinCEN Renews Geographic Targeting Order

On October 9, 2025, the Financial Crimes Enforcement Network ("FinCEN") issued a renewal of its Geographic Targeting Order ("GTOs"), which require U.S. title insurance companies, including their subsidiaries and agents, to collect, retain, and report specified information regarding certain non-financed residential real estate transactions involving legal entities. The new GTO is effective from October 10, 2025 through February 28, 2026.

Access the new GTO here. Read FinCEN's press release here. Read FinCENs FAQs about the GTOs here. This is a topic on which we previously have blogged extensively.

Context and Regulatory Background

The renewal of the GTOs follows FinCEN's September 30, 2025 announcement postponing implementation of its forthcoming Anti-Money Laundering Regulations for Residential Real Estate Transfers Rule ("RRE Rule") until March 1, 2026. During this interim period, FinCEN states that the GTOs are intended to maintain transparency in residential real estate markets considered at higher risk for misuse by illicit actors. According to FinCEN's accompanying press release, these orders continue to provide data on property purchases by persons who may be involved in various unlawful activities.

Scope of Coverage

There are no changes in geographic or monetary thresholds compared with previous orders. Covered transactions must meet all of the following criteria:

• The property is located within designated metropolitan areas or counties that include locations such as Los Angeles County, Miami-Dade County, Cook County, King County and Seattle, New York City boroughs, and others.
• The purchase price meets or exceeds $300,000 in most covered jurisdictions; Baltimore City and County retains a lower threshold at $50,000.
• The buyer is a "legal entity" defined as a corporation, limited liability company, partnership or similar business structure not listed on an SEC-regulated exchange.
• The transaction does not involve external financing from regulated financial institutions subject to Bank Secrecy Act ("BSA") anti-money laundering obligations.
• Payment is made using currency or cash equivalents, including checks, money orders, wire transfers and funds transfers or virtual currency.

Reporting Requirements

Title insurance companies handling covered transactions must file a Currency Transaction Report with FinCEN within thirty days after closing. Required data includes:

• Identity details for both:
  • The individual primarily responsible for representing the purchasing entity;
  • Each beneficial owner holding at least twenty-five percent equity interest; and
  • Government-issued identification documents must be collected/described.
• Confirmation that buyer qualifies under relevant "legal entity" definitions;
• Property address(es);
• Date(s) of closing;
• Total purchase price(s);
• Method(s) used for payment; and
• Reporting party details, including notation "REGTO1025" indicating this specific GTO filing.

When multiple properties are included in one transaction, both total purchase price and per-property addresses and prices must be reported individually.

Record Retention & Compliance

The Order requires retention of all relevant records, including identity documents collected, for five years from expiration date. They must be accessible promptly upon request by regulators such as FinCEN.

Responsibility for compliance extends throughout each covered organization to officers, directors employees and agents alike; covered businesses are required to notify relevant personnel including executive management about these obligations. Noncompliance may result in civil or criminal penalties regardless of intent.

Key Definitions

Some important definitions under this Order include:

• Beneficial Owner: Any individual directly or indirectly owning twenty-five percent or more equity interests in a purchasing legal entity; and
• Legal Entity: Includes corporations, limited liability companies, and partnerships, formed domestically or abroad; excludes those publicly listed with Securities Exchange Commission regulation.

No Modification to Broader BSA Obligations

This GTO supplements, but does not modify, other existing responsibilities imposed by the BSA.

As the real estate industry awaits broader anti-money laundering regulations, compliance with FinCEN's renewed GTOs remains essential for title insurance companies and their agents. By continuing to collect and report detailed transaction data on non-financed purchases by legal entities, FinCEN proports that these measures aim to strengthen market transparency and deter criminal abuse of residential real estate. Staying informed on these developments will be critical as regulatory expectations evolve ahead of the RRE Rule's full implementation in 2026.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.