FinCEN & Real Estate in Pike County, PA

What Buyers, Sellers, and LLC Property Owners Need to Know

Recent federal reporting changes have raised questions for real estate buyers, investors, and business owners across Pike County. If you’ve heard about FinCEN or Beneficial Ownership Information (BOI) reporting and aren’t sure how it affects real estate, this page breaks it down in plain English.

This guide is designed to help you understand what applies, who it affects, and what does not, without legal jargon or unnecessary fear.

What Is FinCEN?

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury. Its role is to combat financial crimes such as money laundering, fraud, and illegal financial activity.

Beginning in 2024, FinCEN began enforcing Beneficial Ownership Information (BOI) reporting requirements for certain U.S. entities, including many LLCs.

What Is Beneficial Ownership Information (BOI) Reporting?

BOI reporting requires certain companies to disclose:

• Who owns the company

• Who controls the company

• Basic identifying information for those individuals

This information is reported directly to FinCEN, not to a real estate brokerage, MLS, or local government.

Does FinCEN Affect Residential Home Buyers?

If you are buying a home in your personal name

No.

Most individual home buyers purchasing property in their own name are not affected by FinCEN BOI reporting.

There is no FinCEN filing required simply for buying or selling a personal residence.

Does FinCEN Affect Real Estate Investors?

If you buy property using an LLC or corporation

Possibly.

If you purchase real estate through:

• An LLC

• A corporation

• A registered business entity

That entity may be required to file a BOI report with FinCEN, depending on:

• When the company was formed

• How it is structured

• Whether it qualifies for an exemption

Does Buying Property Trigger FinCEN Reporting?

No - property purchases themselves do not trigger BOI reporting.

BOI reporting is based on company formation and ownership, not on:

• The price of the property

• The location of the property

• Whether the transaction is residential or commercial

Real estate transactions are not reported by your real estate agent to FinCEN.

Who Is Responsible for Filing BOI Reports?

The responsibility typically falls on:

• The business owner

• The managing member

• The company’s legal or tax professional

Real estate agents do not file BOI reports on behalf of clients.

What Information Is Typically Required?

While requirements can vary, BOI reports generally include:

• Legal name of the company

• Names of beneficial owners

• Date of birth and address

• Identification numbers (such as passport or driver’s license)

This information is submitted securely through FinCEN’s reporting system.

Are There Deadlines or Penalties?

Yes. FinCEN has established:

• Filing deadlines based on company formation date

• Penalties for willful failure to report or update information

Because requirements can change, deadlines should always be confirmed directly with FinCEN or a qualified professional.

How This Applies to Pike County Real Estate

Pike County real estate buyers and investors are not treated differently under FinCEN rules. However, because the area attracts:

• Out-of-state buyers

• Short-term rental investors

• Second-home owners

• LLC-based ownership

Questions about FinCEN are increasingly common during transactions.

Understanding these rules early helps prevent confusion later.

Disclosure:

This page is provided for general informational purposes only and does not constitute legal, tax, or financial advice. FinCEN regulations and reporting requirements may change. Buyers, sellers, and business owners should consult a qualified attorney, CPA, or tax professional regarding their specific situation.

Real estate agents do not provide FinCEN filings or legal guidance related to BOI reporting.

If you are buying or selling real estate in Pike County and have questions about how LLC ownership or federal reporting rules may intersect with your transaction, working with experienced local professionals, including legal and tax advisors, can help ensure a smooth process.