This article sets out the steps involved in preparing and filing a Real Estate Report, from confirming that a transfer is reportable through filing, confirmation, and recordkeeping.
Current status (October 2026): The Residential Real Estate Rule was vacated by a federal court on March 19, 2026 and is not currently enforceable. FinCEN has appealed, and the rule may be reinstated. The requirements below apply when the rule is in effect. For the current legal position, see Is the FinCEN Real Estate Report Still Required in 2026?
Step 1: Confirm the transfer is reportable
Before anything else, confirm that the transfer actually requires a report. A report is required only where all four conditions are met: the property is U.S. residential real property; the transfer is non-financed; the transferee is a legal entity or trust; and no exception applies. Each condition is explained in What Qualifies as a Reportable Transfer. The financing condition reaches well beyond cash purchases and is covered in Non-Financed Transfers Under the Real Estate Rule, and the excepted categories are listed in Exempt Entities and Trusts. If any condition is not met, no report is due. For a guided check, use the Do I Need to File tool.
Step 2: Identify the reporting person
Determine which party is responsible for filing. Absent a designation agreement, responsibility is assigned by the reporting cascade described in Who Must File the Real Estate Report. Where the obligation is to be reassigned, the parties may execute a designation agreement, which must be specific to the transaction.
Step 3: Collect the required information
Gather the information the report requires: identifying details for the reporting person, the property, the transferor, the transferee entity or trust, any trustee that is a legal entity, and the individuals signing on behalf of the transferee, along with the total consideration and the details of each payment. Identify and collect information on the beneficial owners, following the standards in Beneficial Ownership Under the Real Estate Rule. Beneficial ownership information must be certified in writing by the transferee or the transferee’s representative.
The report cannot be filed with missing information, so collection should begin at intake rather than at closing. Where a transferee is reluctant to provide what is needed, see When a Transferee Won’t Provide the Required Information.
Step 4: File through the BSA E-Filing System
Real Estate Reports are filed electronically through FinCEN’s BSA E-Filing System, which is free of charge and accessed through a Login.gov account. Three filing methods are available: an online form completed and submitted in a single session, a PDF form prepared offline and uploaded, and batch filing in XML for offices submitting a high volume of reports. The account should be established well before the first filing is due.
The report must be filed by the later of two dates: the last day of the month following the month of closing, or 30 calendar days after closing. The calculation is explained in Real Estate Report Filing Deadlines.
A reporting person may authorize an employee, affiliate, or third-party service provider to submit the report on its behalf. The reporting person nonetheless remains responsible for the filing.
Step 5: Confirm acceptance and save the transcript
After submission, the system confirms receipt and then sends an email stating whether the report was accepted or rejected. A rejected report must be corrected and resubmitted. For an accepted report, a BSA Identifier is delivered to the filer’s secure mailbox within one to two business days. Keep this identifier with the transaction file, because it is required for any later correction or amendment.
The BSA E-Filing System does not keep a copy of the report that the filer can retrieve later. A transcript can be saved only at the time of filing, so offices that want a copy for their own files should save it then.
Step 6: Correct or amend when needed
If an error is discovered in a filed report, or new information about the transfer comes to light, a corrected or amended report must be filed as soon as practicable. The corrected or amended report is completed in full and references the BSA Identifier of the original report.
Step 7: Retain the required records
After filing, retain the beneficial ownership certification and any designation agreement for five years. A copy of the report itself is not required to be retained, nor are copies of identification documents. The full requirements are set out in Recordkeeping Requirements Under the Real Estate Rule, and the consequences of missed steps in Penalties and Liability Under the Real Estate Rule.
Support with the filing process
For an overview of the report and its purpose, see What Is the FinCEN Real Estate Report? For the broader operational plan, see Preparing Your Office for the FinCEN Real Estate Report. For assistance with a specific filing, contact us.
