The Financial Crimes Enforcement Network (FinCEN) renewed its real estate geographic targeting orders (GTOs) that require title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate.
The terms of the renewed GTOs are effective from Oct. 16through April 14, 2025. The release announcing the renewal stated the GTOs continue to provide valuable data on the purchase of residential real estate by persons possibly involved in various illicit enterprises. Renewing the GTOs will further assist in tracking illicit funds and other criminal or illicit activity, as well as continuing to inform FinCEN’s regulatory efforts in this sector.
FinCEN renewed the GTOs that cover certain counties and major U.S. metropolitan areas in California, Colorado, Connecticut, Florida, Hawaii, Illinois, Maryland, Massachusetts, Nevada, New York, Texas, Washington, Virginia, and the District of Columbia.
The purchase price threshold remains $300,000 for each covered metropolitan area, with the exception of the city and county of Baltimore, where the purchase price threshold is $50,000.
In August 2024, FinCEN issued a final rule requiring certain industry professionals to report information to FinCEN about non-financed transfers of residential real estate to a legal entity or trust. This nationwide reporting framework will replace the GTOs and goes into effect on December 1, 2025.
Any questions about the GTOs should be directed to FinCEN’s Regulatory Support Section at [email protected].