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The Financial Crimes Enforcement Network (FinCEN), a bureau within the Treasury Department, recently announced the renewal and expansion of its Geographic Targeting Orders (GTOs), which impose reporting requirements on U.S. title companies to identify the natural persons behind companies used in non-financed purchased of residential real estate. FinCEN has renewed the GTOs every six months since 2016. The recent GTO is effective beginning October 22, 2023, until April 18, 2024.
The following jurisdictions are covered by the GTO: Boston; Chicago; Dallas-Fort Worth; Houston; Laredo; Las Vegas; Los Angeles; Miami; New York City; San Antonio; San Diego; San Francisco; Seattle; Denver; the District of Columbia, Maryland, and Northern Virginia (DMV) area; as well as the City and County of Baltimore, the Counties of Fairfield and Litchfield, Connecticut, and the Hawaiian islands of Honolulu, Maui, Hawaii, and Kauai.
The GTO also expands the covered jurisdictions to also include counties of Bristol, Essex, Norfolk, and Plymouth in Massachusetts; the counties of Hillsborough, Pasco, Pinellas, Manatee, Sarasota, Charlotte, Lee, and Collier in Florida; and the county of Travis in Texas.