On 10/20/2023, FinCEN announced it is renewing and extending its Geographic Targeting Orders that require title insurance companies to identify the natural persons behind companies used in non-financed purchases of residential real estate.

In Massachusetts, the Boston metro area continues to be covered. FinCEN has also expanded the reach of the GTO to include properties in Bristol, Essex, Norfolk, and Plymouth counties. The GTOs for those counties will become effective 11/21/2023 for six months. The purchase threshold amount for reporting is $300,000.


John Burnett
BankersOnline