Bulletin AGNAT-2023-002- FinCEN Extends Order Requiring Reporting for Certain Transactions in Specific Areas of the USA

Bulletin UNCO-Bulletin-2023-004-Financial Crimes Enforcement Network (FinCEN) Geographic Targeting Order (GTO) expands to Colorado

May 11, 2023

LATEST NEWS: First National Title Insurance Company Adds Stephen Parker to Southwest Region’s Underwriting Team as VP & Texas Underwriting Counsel

May 25, 2023

Published by First National Title Insurance on May 12, 2023

Description

Dear Agents:

On April 24, 2023, the Financial Crimes Enforcement Network (FinCEN) has once again issued a Geographic Targeting Order (“GTO”). The most recent GTO received by First National Title Insurance is attached hereto. Please refer to prior bulletins and to the actual GTO for the full reporting details.

GTO PERIOD:

FOR COUNTIES AND BOROUGHS PREVIOUSLY INCLUDED IN THE GTO, THE GTO HAS BEEN EXTENDED EFFECTIVE APRIL 25, 2023, AND CONTINUING THROUGH OCTOBER 21, 2023. FOR THE NEWLY ADDED COUNTY OF LITCHFIELD, CONNECTICUT AND THE NEWLY ADDED COLORADO COUNTIES OF ADAMS, ARAPAHOE, CLEAR CREEK, DENVER, DOUGLAS, EAGLE, EL PASO, FREMONT, JEFFERSON, MESA, PITKIN, PUEBLO, AND SUMMIT, THE GTO IS EFFECTIVE MAY 24, 2023, AND CONTINUES THROUGH OCTOBER 21, 2023.

COVERED COUNTIES:

For the purchase of residential real property by a “Legal Entity” (as this term is defined in Section III. A. of the GTO) where the purchase price of the property is in the amount of $300,000.00 or more, the following counties are affected by the GTO:

Texas Counties of Bexar, Tarrant, Dallas, Harris, Montgomery, and Webb

Florida Counties of Miami-Dade, Broward, and Palm Beach

The Boroughs of Brooklyn, Queens, Bronx, Staten Island, and Manhattan in New York City, NY

California Counties of San Diego, Los Angeles, San Francisco, San Mateo, and Santa Clara

Hawaii Counties of Hawaii, Maui, Kauai, Honolulu and the City of Honolulu

Nevada County of Clark

Washington County of King

Massachusetts Counties of Suffolk and Middlesex

Illinois County of Cook

Maryland Counties of Montgomery, Anne Arundel, Prince George’s, and Howard

Virginia Counties of Arlington and Fairfax, and the Cities of Alexandria, Falls Church, and Fairfax

Connecticut Counties of Fairfield and Litchfield

Colorado Counties of Adams, Arapahoe, Clear Creek, Denver, Douglas, Eagle, Elbert, El Paso, Fremont, Jefferson, Mesa, Pitkin, Pueblo, and Summit

The District of Columbia

Additionally, purchases of residential real property by a “Legal Entity” (as this term is defined Section III. A. of the GTO) in the amount of $50,000.00 or more in the City or County of Baltimore, Maryland is subject to the GTO.

Purchases by individuals, purchases using a bank or mortgage company loan, or purchases made by entities that are publicly traded in the US are not required to be reported.

Helpful Links:

Forms and additional information can be obtained through the FinCEN Resource Center at [email protected].

The FinCEN Resource Center may be contacted by phone at 800-767-2825, Monday through Friday, 8am to 6pm ET.

As always, your FNTI team is available to help with questions and guidance.

Previously issued Bulletins on the FinCEN GTO can be located on the FNTI website at

https://fnti.com/agents/bulletins/agency-bulletins/:

Agency Bulletin AGTX/FL-2016-005 dated 8/18/2016

Agency Bulletin AGTX/FL-2017-002 dated 2/22/2017

Agency Bulletin AGTX/FL-2017-005 dated 8/24/2017

Agency Bulletin AGTX/FL-2018-001 dated 3/27/2018

Agency Bulletin AGTX/FL-2018-005 dated 11/26/2018

Underwriting Bulletin UNTX.FL-2019-001 dated 5/22/2019