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As Florida’s title and settlement services industry prepares for FinCEN’s Residential Real Estate Reporting rule going into effect March 1st, many agents have asked a number of questions to prepare. One that has been frequent across the industry has been, are title agents or agency’s able to charge? So, we asked the Florida Department of Financial Services for clarification and here is what Ray Wenger, Chief, Division of Insurance Agent & Agency Services, Bureau of Investigation, within the Department of Financial Services shared with FLTA:

“The Residential Real Estate Rule, effective March 1, 2026, requires certain professionals involved in real estate closings and settlements to submit reports to FinCEN regarding certain non-financed transfers of residential real estate to legal entities or trusts.

The reports required by FinCEN are ancillary to the transfer of property ownership. While they must be completed for each qualifying transaction, they are not a requirement of the actual closing. Therefore, any fees or expenses associated with the research and preparation of these reports are separate from the title agent’s or agency’s closing services fee. These charges may appear separately on the settlement statement, provided they are accurately identified.”

You may view and download the letter here. A posting of this statement is expected to be added to the Department’s website at a later date, but the site is currently under redevelopment.

We thank Mr. Wenger and the Department of Financial Services for providing this clarification to the industry.

FinCEN Updates Frequently Asked Questions

FinCEN has also expanded their Frequently Asked Questions to almost 100 questions. You may view and bookmark this webpage here.

If you have questions regarding FinCEN you should contact your Title Insurance Underwriter or FinCEN partner.

Posted: February 26, 2026

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