89700 Federal Register / Vol. 89, No. 219 / Wednesday, November 13, 2024 / Notices 

Build America Bureau, shall issue guidance 

on performance benchmarks, risk premiums, 

and expected rates of return on private 

financing for projects described in subsection 

(b). 

United States Code, Title 23, Section 106(h) 

(h) Major Projects.— 

(1) In general.—Notwithstanding any other 

provision of this section, a recipient of 

Federal financial assistance for a project 

under this title with an estimated total cost 

of $500,000,000 or more, and recipients for 

such other projects as may be identified by 

the Secretary, shall submit to the Secretary 

for each project— 

(A) a project management plan; and 

(B) an annual financial plan, including a 

phasing plan when applicable. 

(2) Project management plan.—A project 

management plan shall document— 

(A) the procedures and processes that are 

in effect to provide timely information to the 

project decisionmakers to effectively manage 

the scope, costs, schedules, and quality of, 

and the Federal requirements applicable to, 

the project; and 

(B) the role of the agency leadership and 

management team in the delivery of the 

project. 

(3) Financial plan.—A financial plan— 

(A) shall be based on detailed estimates of 

the cost to complete the project; 

(B) shall provide for the annual submission 

of updates to the Secretary that are based on 

reasonable assumptions, as determined by 

the Secretary, of future increases in the cost 

to complete the project; 

(C) may include a phasing plan that 

identifies fundable incremental 

improvements or phases that will address the 

purpose and the need of the project in the 

short term in the event there are insufficient 

financial resources to complete the entire 

project. If a phasing plan is adopted for a 

project pursuant to this section, the project 

shall be deemed to satisfy the fiscal 

constraint requirements in the statewide and 

metropolitan planning requirements in 

sections 134 and 135; 

(D) for a project in which the project 

sponsor intends to carry out the project 

through a public-private partnership 

agreement, shall include a detailed value for 

money analysis or similar comparative 

analysis for the project; and 

(E) shall assess the appropriateness of a 

public-private partnership to deliver the 

project. 

United States Code, Title 49, Section 116(e) 

(e) Innovative Financing Best Practices.— 

(1) In general.—The Bureau shall work 

with the modal administrations within the 

Department, eligible entities, and other 

public and private interests to develop and 

promote best practices for innovative 

financing and public-private partnerships. 

(2) Activities.—The Bureau shall carry out 

paragraph (1)— 

(A) by making Federal credit assistance 

programs more accessible to eligible 

recipients; 

(B) by providing advice and expertise to 

eligible entities that seek to leverage public 

and private funding; 

(C) by sharing innovative financing best 

practices and case studies from eligible 

entities with other eligible entities that are 

interested in utilizing innovative financing 

methods; and 

(D) by developing and monitoring— 

(i) best practices with respect to 

standardized State public-private partnership 

authorities and practices, including best 

practices related to— 

(I) accurate and reliable assumptions for 

analyzing public-private partnership 

procurements; 

(II) procedures for the handling of 

unsolicited bids; 

(III) policies with respect to noncompete 

clauses; and 

(IV) other significant terms of publicprivate partnership procurements, as 

determined appropriate by the Bureau; 

(ii) standard contracts for the most 

common types of public-private partnerships 

for transportation facilities; and 

(iii) analytical tools and other techniques 

to aid eligible entities in determining the 

appropriate project delivery model, including 

a value for money analysis. 

(3) Transparency.—The Bureau shall— 

(A) ensure the transparency of a project 

receiving credit assistance under a program 

referred to in subsection (d)(1) and procured 

as a public-private partnership by— 

(i) requiring the sponsor of the project to 

undergo a value for money analysis or a 

comparable analysis prior to deciding to 

advance the project as a public-private 

partnership; 

(ii) requiring the analysis required under 

subparagraph (A), and other key terms of the 

relevant public-private partnership 

agreement, to be made publicly available by 

the project sponsor at an appropriate time; 

(iii) not later than 3 years after the date of 

completion of the project, requiring the 

sponsor of the project to conduct a review 

regarding whether the private partner is 

meeting the terms of the relevant publicprivate partnership agreement; and 

(iv) providing a publicly available 

summary of the total level of Federal 

assistance in such project; and 

(B) develop guidance to implement this 

paragraph that takes into consideration 

variations in State and local laws and 

requirements related to public-private 

partnerships. 

(4) Support to project sponsors.—At the 

request of an eligible entity, the Bureau shall 

provide technical assistance to the eligible 

entity regarding proposed public-private 

partnership agreements for transportation 

facilities, including assistance in performing 

a value for money analysis or comparable 

analysis. 

Duane Callender, 

Acting Executive Director, Build America 

Bureau. 

[FR Doc. 2024–26210 Filed 11–12–24; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

RIN 1506–AB54 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; Real Estate 

Reports 

AGENCY: Financial Crimes Enforcement 

Network (FinCEN), Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: FinCEN invites all interested 

parties to comment on the proposed 

information collection associated with 

the requirement to report information 

about certain residential real estate 

transfers, as required by the Anti-Money 

Laundering Regulations for Residential 

Real Estate Transfers final rule 

published on August 29, 2024. The 

details included in the information 

collection are listed below. This request 

for comment is made pursuant to the 

Paperwork Reduction Act of 1995. 

DATES: Written comments are welcome 

and must be received on or before 

January 13, 2025. 

ADDRESSES: Comments may be 

submitted by any of the following 

methods: 

• Federal E-rulemaking Portal: http:// 

www.regulations.gov/. Follow the 

instructions for submitting comments. 

Refer to Docket Number FINCEN–2024– 

0019 and the specific Office of 

Management and Budget (OMB) control 

number 1506–0080. 

• Mail: Policy Division, Financial 

Crimes Enforcement Network, P.O. Box 

39, Vienna, VA 22183. Refer to Docket 

Number FINCEN–2024–0019 and OMB 

control number 1506–0080. 

Please submit comments by one 

method only. Comments will be 

reviewed consistent with the Paperwork 

Reduction Act of 1995 (PRA) and 

applicable OMB regulations and 

guidance. Comments submitted in 

response to this notice will become a 

matter of public record. Therefore, you 

should submit only information that 

you wish to make publicly available. 

FOR FURTHER INFORMATION CONTACT: 

FinCEN’s Regulatory Support Section at 

1–800–767–2825 or electronically at 

frc@fincen.gov. 

SUPPLEMENTARY INFORMATION: 

I. Statutory and Regulatory Provisions 

The legislative framework generally 

referred to as the Bank Secrecy Act 

(BSA) consists of the Currency and 

Foreign Transactions Reporting Act of 

1970, as amended by the Uniting and 


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1USA PATRIOT Act, Public Law 107–56, 115 

Stat. 272 (2001). 2The AML Act was enacted as Division F, 

sections 6001–6511, of the William M. (Mac) 

Thornberry National Defense Authorization Act for 

Fiscal Year 2021, Public Law 116–283, 134 Stat. 

3388. 3See 31 U.S.C. 5311. 4Treasury Order 180–01 (Jan. 14, 2020); see also 

31 U.S.C. 310(b)(2)(I) (providing that FinCEN 

Director ‘‘[a]dminister the requirements of 

subchapter II of chapter 53 of this title, chapter 2 

of title I of Public Law 91–508, and section 21 of 

the Federal Deposit Insurance Act, to the extent 

delegated such authority by the Secretary.’’). 

5See 31 U.S.C. 5312(a)(2)(U). 

6See 31 U.S.C. 5318(g)(1)(A). 

7See 31 U.S.C. 5318(g)(5)(B)(i)–(iii). 

8See AML Act, section 6202 (codified at 31 

U.S.C. 5318(g)(D)(i)(1)). 

9FinCEN, Final Rule, ‘‘Anti-Money Laundering 

Regulations for Residential Real Estate Transfers,’’ 

89 FR 70258 (Aug. 29, 2024). 

10 Public Law 104–13, 44 U.S.C. 3506(c)(2)(A). 

11This is intended to include the ‘‘time, effort, or 

financial resources expended to generate, [. . .] or 

disclose or provide information to’’ FinCEN as 

required by the PRA. See Carey and Ortiz, ‘‘The 

Paperwork Reduction Act and Federal Collections 

of Information: A Brief Overview’’ (Apr. 17, 2024). 

12Other BSA reports include, for example, 

Suspicious Activity Reports (SARs) and Reports of 

Foreign Bank and Financial Accounts (FBARs). See 

FinCEN, BSA E-Filing System, ‘‘Supported Forms’’, 

available at https://bsaefiling.fincen.treas.gov/ 

SupportedForms.html. 

13 If the enrolling party intends to be the sole user 

of the access being set up, there is no distinction 

between the person named as Supervisory User and 

the general user, and there would be only one 

account. 

14 Login.gov is available at https://www.login.gov/ 

. To create a Login.gov account, users will be 

required to provide an email address and a form of 

identification. BSA E-filing is available at https:// 

bsaefiling.fincen.treas. 

gov. 

Strengthening America by Providing 

Appropriate Tools Required to Intercept 

and Obstruct Terrorism Act of 2001 

(USA PATRIOT Act) 1 and other 

legislation, including the Anti-Money 

Laundering Act of 2020 (AML Act).2

The BSA is codified at 12 U.S.C. 1829b, 

1951–1960 and 31 U.S.C. 5311–5314, 

5316–5336, including notes thereto, 

with implementing regulations at 31 

CFR chapter X. 

The BSA authorizes the Secretary of 

the Treasury (Secretary) to, inter alia, 

require financial institutions to keep 

records and file reports that are 

determined to have a high degree of 

usefulness in criminal, tax, or regulatory 

matters, risk assessments or 

proceedings, or in the conduct of 

intelligence or counter-intelligence 

activities to protect against terrorism, 

and to implement anti-money 

laundering/countering the financing of 

terrorism (AML/CFT) programs and 

compliance procedures.3 The authority 

of the Secretary to administer the BSA 

has been delegated to the Director of 

FinCEN.4

Among the financial institutions 

subject to these requirements are 

‘‘persons involved in real estate closings 

and settlements.’’ 5 In particular, section 

5318(g) of the BSA authorizes the 

Secretary to require financial 

institutions to report, via Suspicious 

Activity Reports (SARs), any 

‘‘suspicious transactions relevant to a 

possible violation of law or 

regulation.’’ 6 However, the BSA affords 

the Secretary flexibility in 

implementing that requirement, and 

indeed directs the Secretary to consider 

‘‘the means by or form in which the 

Secretary shall receive such reporting,’’ 

including the relevant ‘‘burdens 

imposed by such means or form of 

reporting,’’ ‘‘the efficiency of the means 

or form,’’ and the ‘‘benefits derived by 

the means or form of reporting.’’ 7 A 

provision added to the BSA by section 

6202 of the Anti-Money Laundering Act 

of 2020 (AML Act) further directs 

FinCEN to ‘‘establish streamlined . . . 

processes to, as appropriate, permit the 

filing of noncomplex categories of 

reports of suspicious activity.’’ In 

assessing whether streamlined filing is 

appropriate, FinCEN must determine, 

among other things, that such reports 

would ‘‘reduce burdens imposed on 

persons required to report[,]’’ while at 

the same time ‘‘not diminish[ing] the 

usefulness of the reporting to Federal 

law enforcement agencies, national 

security officials, and the intelligence 

community in combating financial 

crime, including the financing of 

terrorism[.]’’ 8

On August 29, 2024, FinCEN issued a 

final rule, ‘‘Anti-Money Laundering 

Regulations for Residential Real Estate 

Transfers,’’ hereafter referred to as the 

Residential Real Estate Rule (RRE 

Rule).9 The RRE Rule requires certain 

persons involved in real estate closings 

and settlements (reporting persons) to 

submit reports to FinCEN and keep 

records on certain non-financed 

transfers of residential real property to 

specified legal entities and trusts on a 

nationwide basis. The reports are 

expected to curtail the ability of illicit 

actors to launder illicit proceeds 

anonymously through transfers of 

residential real property, which 

threatens U.S. economic and national 

security. More broadly, the reports are 

expected to assist the U.S. Department 

of the Treasury (Treasury), law 

enforcement, and national security 

agencies in addressing illicit finance 

vulnerabilities in the U.S. residential 

real estate sector. The rule describes the 

circumstances in which a report must be 

filed, who must file a report, what 

information must be provided, and 

when a report is due. 

II. Paperwork Reduction Act of 1995 10

FinCEN conducted certain 

supplemental analyses, which are 

discussed below, to estimate the 

incremental Paperwork Reduction Act 

(PRA) burden 11 attributable to the 

specifics of the proposed information 

collection associated with the RRE Rule, 

particularly those relating to the Real 

Estate Report (RER), including both the 

proposed data fields of the RER and the 

mechanism by which a RER would be 

submitted to FinCEN. Public comments 

on this analysis, including relevant, 

readily generalizable data that would 

improve the accuracy of FinCEN’s 

estimates, are invited. 

Title: Real Estate Reports. 

OMB Control Number: 1506–0080. 

Type of Collection: Revision. 

Description: The RRE Rule imposes a 

new reporting and recordkeeping 

requirement on certain persons involved 

in real estate closings and settlements, 

or reporting persons, when they perform 

certain functions in relation to nonfinanced transfers of residential real 

property to a specified legal entity or a 

trust. The reports are to be filed 

electronically through an online 

interface using the same free system that 

other financial institutions required to 

file BSA reports use for purposes other 

than in connection with real estate 

transactions.12 For some reporting 

persons, this system will already be 

familiar and ready for use as it is also 

the same filing system for submitting 

reports under geographic targeting 

orders relating to non-financed transfers 

of residential real estate (Residential 

Real Estate GTOs). Reporting persons 

who do not already use FinCEN’s BSA 

E-filing system will first need to enroll. 

The enrollment process for FinCEN’s 

BSA E-Filing System entails identifying 

the reporting person and assigning a 

designated Supervisory User.13 The 

Supervisory User is an individual who 

will facilitate the process of creating 

general user accounts for the reporting 

person’s other employees, if any, that 

may file RERs; the Supervisory User has 

access to system functionality not 

available to regular users, such as ability 

to update filing organization 

information and track the status of 

filings submitted by all users from 

across the organization. To file RERs 

through FinCEN’s BSA E-Filing System, 

individual users will be required to 

create a login.gov account (if they have 

not already done so for other 

purposes).14 Once the enrollment 

process has been completed, the BSA EFiling System will provide three 

different filing options for RERs. Filers 


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15Because the requirement for certain fields to be 

populated is unique to the facts and circumstances 

of a given transfer, not all 111 original fields are 

relevant to each potential reportable transfer. 

However, due to the possibility that in some 

transfers, a single individual may perform more 

than one role, some fields might need to be 

completed more than once for the same individual, 

causing the number of fields completed in practice 

to exceed the percent of fields required to be 

completed for a given RER. 

16See FinCEN, Final Rule, ‘‘Anti-Money 

Laundering Regulations for Residential Real Estate 

Transfers,’’ 89 FR 70258 (Aug. 29, 2024). See also 

Appendix. 

17The reporting cascade consists of a list of seven 

different functions that a real estate professional 

may perform in a transfer of residential real 

property, with the reporting obligation for any such 

transfer applying to the professional that performed 

a function that appears highest on the list. For 

example, the first function on the list is the 

professional listed as the agent on the closing or 

settlement statement. If no such professional is 

involved in the transfer, then the reporting 

obligation applies to any professional that 

performed the second function on the list (i.e., the 

professional that prepared the closing or settlement 

statement), and so on down the list. See FinCEN, 

Final Rule, ‘‘Anti-Money Laundering Regulations 

for Residential Real Estate Transfers,’’ 89 FR 70258, 

70290–70291 (Aug. 29, 2024). 

18Analysis of Residential Real Estate GTO filings 

to date illustrates certain potential limitations of 

this approach because it demonstrates that covered 

businesses under the GTO requirements (which are 

limited to title insurance agents), may function in 

a role other than their self-identified primary 

occupation. To illustrate, FinCEN notes that of the 

approximately 2,400 identifiably unique filers who 

submitted at least one Residential Real Estate GTO 

report through August 2024, approximately 38.4 

percent self-identified as either primarily employed 

as an attorney or the employee of a law office. 

19See FinCEN, Final Rule, ‘‘Anti-Money 

Laundering Regulations for Residential Real Estate 

Transfers,’’ 89 FR 70258, 70283 (Aug. 29, 2024). 

20See 31 U.S.C. 5326; 31 CFR 1010.370; Treasury 

Order 180–01 (Jan. 14, 2020), available at https:// 

home.treasury.gov/about/general-information/ 

orders-and-directives/treasury-order-180-01. In 

general, a GTO is an order administered by FinCEN 

which, for a finite period of time, imposes 

additional recordkeeping or reporting requirements 

on domestic financial institutions or other 

businesses in a given geographic area, based on a 

finding that the additional requirements are 

necessary to carry out the purposes of, or to prevent 

evasion of, the BSA. The statutory maximum 

duration of a GTO is 180 days unless further 

renewed. Since 2016, the Residential Real Estate 

GTOs have required certain title insurance 

companies to file reports and maintain records 

concerning non-financed purchases of residential 

real estate above a specific price threshold by 

certain legal entities in select metropolitan areas of 

the United States. 

21This includes both reports filed on Form 8300, 

which were originally required for reports filed by 

the Residential Real Estate GTOss, and on a 

Currency Transaction Report (CTR), which has been 

the required form for the GTOs since April 13, 

2018. FinCEN has included GTO reports incorrectly 

filed using Form 8300 after April 13, 2018, in its 

analysis because they conceptually represent 

reporting activity undertaken regarding real estate 

transfers of interest. 

22As measured by market share at the end of 

calendar year 2022. 

23 Id. 

24FinCEN bases this estimate on an expected 

average training time cost of 30 minutes for one 

will file individual reports either 

through an online form or as a PDF 

form, or filers may file multiple reports 

through a user-developed automated 

interface. 

The proposed RER contains 111 

distinct fields, of which, FinCEN 

expects approximately 60 percent must 

be completed to report a given transfer 

per the requirements specified in the 

RRE rule.15 The form may require as few 

as approximately 40 fields to be 

completed, and FinCEN anticipates that 

significantly more fields may be 

required for certain highly complex 

reportable transfers, such as those with 

multiple beneficial owners or multiple 

sources of funds that would require the 

same fields to be populated for each 

owner or source of funds. 

The effective date of the RRE Rule is 

December 1, 2025. As set forth in the 

rule, the RER must contain information 

about the person filing the report (the 

‘‘reporting person’’), the legal entity (the 

‘‘transferee entity’’) or trust (the 

‘‘transferee trust’’) receiving ownership 

of the property, the beneficial owners of 

the transferee entity or transferee trust, 

certain individuals signing documents 

on behalf of the transferee entity or 

transferee trust, the transferor (e.g., the 

seller), the property being transferred, 

and any payments made.16 The 

reporting person may reasonably rely on 

information obtained from others, 

absent knowledge of facts that would 

reasonably call into question the 

reliability of that information. For 

purposes of reporting beneficial 

ownership information in particular, a 

reporting person may reasonably rely on 

information obtained from a transferee 

or the transferee’s representative if the 

accuracy of the information is certified 

in writing to the best of the information 

provider’s own knowledge. The 

collected information will be 

maintained by FinCEN and made 

accessible to authorized users. 

Report: Real Estate Report. 

Affected Public: Residential Real 

Estate Settlement Agents, Title 

Insurance Carriers, Escrow Service 

Providers, Attorneys and Offices of 

Attorneys, and Other Real Estate 

Professionals. 

A. Respondent-Based Incremental 

Reporting Burdens 

Estimated Number of Respondents: 

One per reportable transaction. 

As explained in the RRE Rule, the 

reporting person for any transfer is one 

of a number of persons who perform 

specified roles in a given real estate 

closing and settlement, with the specific 

reporting person determined through a 

cascading approach, unless superseded 

by a designation agreement among 

persons in the reporting cascade.17 The 

reporting cascade is ordered by function 

performed or service provided, rather 

than by the defined primary 

occupations (i.e., job titles such as real 

estate agent) or categories of service 

providers (e.g., real estate lawyers), 

because the role of the reporting person 

provides more clarity about their 

placement in the reporting cascade 

rather than a job title or occupational 

category or similar attribute originally 

intended for census purposes. 

To estimate the total number of 

respondents in the RRE Rule, FinCEN 

grouped potential reporting persons by 

features of their primary occupation and 

treated them as functionally distinct 

members of the cascade.18 In the final 

rule, FinCEN estimated that there may 

be up to approximately 172,753 

reporting persons and 642,508 

employees of those persons.19 While 

FinCEN continues to treat these 

estimates as an expected upper bound 

on the number of persons who could 

incur the reporting burden estimated in 

this notice, it is likely that the number 

of reporting persons and affected 

employees that would in practice incur 

the full incremental burden estimated in 

this notice would be much lower. In its 

experience with the more limited 

Residential Real Estate GTOs, FinCEN 

data suggests that most reporting has 

been performed by a concentrated 

subset of the total population of 

potential reporting entities and that few 

identifiably unique individual 

employees per reporting person are 

associated with the reports filed.20 For 

example, from the date of the first 

effective Residential Real Estate GTOs 

in March 2016 through the end of 

August 2024, FinCEN estimates that 

approximately 64 percent of all reports 

filed 21 were submitted by the five 

largest title companies 22 and an 

additional 8 percent, approximately, 

were filed by the remaining 15 of the 20 

largest title companies.23 The residual 

share of total reports filed were 

submitted by either smaller title 

companies or law offices, with an 

average filing volume of 16 GTO reports 

filed per remaining filer and an average 

of one identifiably distinct employee 

filer per reporting year per reporting 

entity. Consequently, a number of the 

incremental burden estimates presented 

below have been calculated over a 

smaller subpopulation of the total 

number of respondents as estimated in 

the RRE Rule. 

Estimated Burden per Respondent: 50 

minutes. 24


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natural person per year and a one-time technology 

time cost of 1 hour, or 20 minutes per year for three 

years. FinCEN intends to request comment on filers’ 

realized technology costs and is prepared to further 

refine this estimate upon renewal of the OMB 

control number. 

25See FinCEN, NPRM, ‘‘Anti-Money Laundering 

Regulations for Residential Real Estate Transfers,’’ 

89 FR 12424 (Feb. 16, 2024), and FinCEN, Final 

Rule, ‘‘Anti-Money Laundering Regulations for 

Residential Real Estate Transfers,’’ 89 FR 70258 

(Aug. 29, 2024). 

26See supra note 11. 

27As discussed in Section VI.A.4.a.i. of the RRE 

Rule, where the training burden was intended to 

capture ‘‘the costs of preparing informational 

material and training personnel about the proposed 

rule generally as well as certain firm-specific 

policies and procedures related to reporting, 

complying, and documenting compliance.’’ 

28One commenter suggested FinCEN estimates 

should be increased by 45 minutes, another by 75 

minutes, and a third suggested the training burden 

should be estimated at one hour per report filed (or 

850,000 hours annually). 

29For entities that have already set up access in 

the course of Residential Real Estate GTO reporting 

compliance, this burden can be alternatively 

interpreted as a 20 minute per year burden, over 

three years, associated with maintaining accounts. 

In FinCEN’s review of Residential Real Estate GTO 

filings, it appears that while certain filers have 

submitted reports in each of the past nine years, the 

individual user(s) submitting the filing does not 

remain the same for more than one or two years at 

a time. 

30While it has been possible to batch file CTRs 

since May 18, 2017 (see FinCEN Currency 

Transaction Report (CTR) Electronic Filing 

Requirements (treas.gov)), Residential Real Estate 

GTOs originally required reports to be submitted 

using Form 8300 (see note 20), which did not have 

a batch-filing option until March 2019 (see 

XMLUserGuide_FinCEN8300.pdf (treas.gov)). This 

analysis therefore treats 2018 as the earliest year in 

which Residential Real Estate GTO filers would 

have been able to submit batch filings. 

31 Data analyzed covers the period January 1, 

2016, through August 31, 2024, and includes both 

Form 8300 and CTR GTO filings. 

32See FinCEN, Final Rule, ‘‘Anti-Money 

Laundering Regulations for Residential Real Estate 

Transfers,’’ 89 FR 70258, 70277 (Aug. 29, 2024). 

FinCEN continues to acknowledge 

that some costs related to the proposed 

information collection may be 

independent of a potential respondent 

ever submitting an RER. These may be 

expected to include certain training and 

reporting mechanism-specific 

technology costs. 

Training Costs 

As in the regulatory impact analyses 

(RIAs) in both the February 2024 notice 

of proposed rulemaking (RRE NPRM) 

and the RRE Rule, FinCEN continues to 

expect that all potential reporting 

persons and at least some proportion of 

their respective employees, as a proper 

superset of all actual reporting persons, 

are likely to engage in some measure of 

preparatory training in advance of any 

instance in which a non-designatable 

reporting requirement is realized.25

Unlike the RRE NPRM and RRE Rule 

however, FinCEN has considered it 

appropriate to include an incremental 

estimate of training costs as part of the 

PRA burden in this 60-day Notice. This 

is because training in how to complete 

and submit the RER itself represents an 

expenditure of resources without which 

it would not be possible to ‘‘disclose or 

provide information to’’ 26 FinCEN 

because the RER filing will be the only 

mechanism by which a reporting person 

may inform FinCEN of a reportable 

transfer. 

The training burden contemplated in 

this notice is therefore intended to 

include an estimate of only the average 

expected reporting person’s necessary 

training specific to the completion of 

the RER in the format proposed, using 

the submission process anticipated to be 

adopted by such persons and their 

employees. It is intended to capture 

aspects of training distinct from, and 

complementary to, the broader training 

necessary to ensure adequate familiarity 

with the RRE Rule generally and a 

reporting person’s compliance policies 

and procedures specifically.27

In two rounds of FinCEN’s internal 

tests of user experience with the RER, 

participants with self-reported prior 

familiarity with the RRE Rule ranging 

from none to moderate were provided 

with 10 to 20 minutes of training and 

instruction on how to complete a RER 

before being provided with sample 

scenarios of varying complexity, which 

were then used to populate a simulated 

version of the report. Participants’ 

responses to a post-exercise survey 

reported that, conditional on adequate 

familiarity with the rule, 78.9 percent 

found the training time they were 

provided to be adequate, while 21.1 

percent signaled that more training time 

would be needed, expressing a belief 

that a mean training time including 22 

additional minutes would be necessary. 

Participants who reported that more 

training time than they received would 

be helpful did not perform meaningfully 

differently from participants who 

reported a belief that the training time 

they received was adequate. While 

participants who recommended longer 

training scored an average of 3.2 

percentage points lower than other 

participants, this difference could not be 

determined to be statistically 

significant. 

FinCEN took into consideration the 

results of its internal testing as well as 

certain comments received in response 

to the RRE NPRM that FinCEN’s 

estimates of training time needs were 

insufficient.28 FinCEN continues to 

believe that these comments may have 

intended to include both form-specific 

and form-independent training and that 

its expectation that an average of 30 

minutes per trained employee is 

necessary for report-specific training is 

consistent with both the results of its 

testing and public comments received. 

Technology Costs 

FinCEN recognizes that potential 

reporting persons may need or opt to 

incur certain technology related 

expenditures to facilitate their filing 

activity, and that these costs may vary 

by the format and filing mechanism 

choices of the individual business. As in 

the RRE NPRM and the RRE Rule, 

FinCEN continues to anticipate that 

most reporting persons will make use of 

the online form and PDF form options. 

FinCEN is continuing to not assign an 

incremental cost for use of technology 

that is already incorporated into the 

ordinary business operations of 

potential respondents. However, 

FinCEN is assigning a non-recurring 

time cost of one hour per respondent 

associated with setting up access and 

accounts in the BSA E-Filing System.29

FinCEN is not including additional 

cost estimates at this time associated 

with adopting new technologies that 

would facilitate batch-filing because 

while Residential Real Estate GTO filers 

have had the option to file reports in 

batch format since 2018,30 FinCEN has 

not yet received any reportable real 

estate transaction filings in batch 

format.31 FinCEN acknowledges that 

this may underestimate costs which, 

because of the difference in scale and 

scope of the reporting requirements 

under the RRE Rule from those under 

the Residential Real Estate GTOs, 

certain reporting persons may now find 

it more cost effective to invest in 

technological updates that would 

facilitate batch filing. To the extent that 

this may be the case, FinCEN is 

soliciting public comment, including 

information on the expected per 

business costs and the anticipated 

benefits of these technological 

investments. 

B. Response-Based Incremental 

Reporting Burdens 

Estimated Number of Responses: 

850,000 per year.32

As described in the RRE Rule, because 

the specific conditions under which a 

person in the reporting cascade becomes 

the reporting person for a reportable 

transfer and would consequently file the 

RER may depend on factors unique to 

the specific reportable transaction, 

FinCEN considers it more appropriate to 

assign the remainder of the estimated 

incremental burden associated with the 

proposed information collection on a 


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33While FinCEN anticipates that some reported 

transfers may subsequently require amendment or 

revision, it is not inclined to speculate at this time 

on the potential future rate of refiling. Additionally, 

because FinCEN is revising its estimated time 

burden associated with RER completion in this 

notice to account for time reporting persons may 

need to review and revise reports before 

submission, this should correspond to a reduced 

need for additional filings per reportable transfer. 

FinCEN intends to review the inflow of filings to 

assess the realized volume of amendment filings 

and is prepared to further refine this estimate upon 

renewal of the OMB control-number. 

34 In FinCEN’s internal testing, complexity 

represents the number of informational units that 

the study-participant would be required to report in 

the fields of the simulated RER. 

35This estimate includes an expected respondentbased incremental burden of 0.83 hours per 

potential reporting person (172,753) and a responsebased incremental burden of 0.25 hours per 

response (850,000). The total is rounded to the 

nearest whole hour. 

36This estimate includes an expected respondentbased incremental burden of $12,709,733.33 and a 

response-based incremental burden of 

$32,614,500.00 (using the same conservative 

assumptions as in the RRE Rule PRA). 

per response basis rather than on a per 

respondent basis. 

Frequency of Response: Once per 

reportable transfer.33

Estimated Incremental Time per 

Response: 15 minutes, or 0.25 hours. 

In the RRE NPRM and the RRE Rule, 

FinCEN estimated that the reporting 

person would need an average of 2 

hours per reportable transfer to collect 

and review transferee and transferspecific reportable information and 

related documents, and an average of 30 

minutes in additional time to complete 

and submit a RER. In providing this 

notice in connection with the proposed 

RER, FinCEN considered whether any 

elements of the specific format of the 

proposed RER and the proposed 

available variations in format and filing 

mechanisms might reasonably be 

expected to increase the previously 

estimated reporting burden. Similarly, 

FinCEN conducted internal testing that 

simulated the use of the proposed report 

to assess whether time in excess of the 

originally budgeted 30 minutes to file a 

report might be systematically necessary 

to represent the expected average 

completion and review needed to 

submit a RER. 

Based on its two rounds of internal 

testing, FinCEN observed that the 

originally budgeted 30 minutes was 

generally sufficient insofar as the 

participants’ self-reported time used to 

complete a RER for a transfer of lowcomplexity 34 was approximately 27 

minutes on average. However, the 

average error rate in low-complexity 

responses was approximately 10 

percent. Additionally, the average selfreported time needed to complete a 

high-complexity RER was 9 minutes 

longer than for a low-complexity RER 

and the average error rate was 

approximately 6 percentage points 

higher. While there are certain 

limitations to the generalizability of 

FinCEN’s internal testing, the results 

suggest that to incorporate sufficient 

time for reporting persons to review 

completed RERs for accuracy before 

submission and to account for the 

additional fields that must be completed 

and reviewed for transfers of higher 

complexity, the originally budgeted 30 

minutes may be insufficient. FinCEN is 

revising its estimated time upward by 

15 minutes, on average, per response to 

account for the time needed for 

variation in transfer complexity and the 

review of completed RERs. 

C. Total Incremental Reporting Burden 

Estimates 

Estimated Total Incremental 

Reporting Burden Hours: 356,461 

hours.35

Estimated Reporting Burden Hours in 

the RRE Rule: In the RRE Rule, FinCEN 

estimated that up to a maximum 

number of four non-reporting persons 

could be expected to incur a 15-minute 

reporting burden and that the reporting 

person who files a Real Estate Report 

that is also a party to a designation 

agreement would incur a three-hour 

reporting burden. In total, FinCEN 

estimated a PRA reporting and 

recordkeeping burden of 4,604,167 

hours annually. 

Revised Estimate of Total Burden 

Hours: The supplemental burden hour 

estimated in this notice is 50 minutes 

per potential respondent and 15 

minutes per response per year, or 

approximately 356,461 hours in total, 

which would increase the total PRA 

burden associated with Anti-Money 

Laundering Regulations for Residential 

Real Estate Transfers under OMB 

control number 1506–0080 by 

approximately 7.7 percent from 

4,604,167 to 4,960,628 hours. 

Estimated Total Incremental 

Reporting Cost: $45,324,233.33.36

Estimated Reporting Cost in the RRE 

Rule: Based on the range of expected 

reportable transfers and the wages 

associated with different persons in the 

potential reporting cascade in the RRE 

Rule, FinCEN anticipated that the rule’s 

reporting costs may be between 

approximately $174.6 million and 

$466.5 million. In total, FinCEN 

estimated a PRA reporting and 

recordkeeping burden of up to 

approximately $630,976,662.47. 

Revised Estimate of Total Burden 

Cost: The supplemental reporting cost 

estimated in this notice is 

$45,324,233.33, which would increase 

the total PRA burden associated with 

Anti-Money Laundering Regulations for 

Residential Real Estate Transfers under 

OMB control number 1506–0080 by 

approximately 7.2 percent from 

$630,976,662.47 to $676,300,895.80. 

Request for Comments 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid OMB control 

number. Comments submitted in 

response to this notice will be 

summarized and included in the request 

for OMB approval. All comments will 

become a matter of public record. 

Comments are invited on: (a) whether 

the collection of information is 

necessary for the proper performance of 

the functions of the agency, including 

whether the information shall have 

practical utility; (b) the accuracy of the 

agency’s estimate of the burden of the 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of technology; and (e) estimates of 

capital or start-up costs and costs of 

operation, maintenance, and purchase 

of services required to provide 

information. 

(Authority: 44 U.S.C. 3501 et seq.) 

Andrea M. Gacki, 

Director, Financial Crimes Enforcement 

Network. 

Appendix—Real Estate Report 

Summary of Data Fields 

BILLING CODE 4810–02–P 


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NOTE: 

Fields with an asterisk(*) symbol are required by default (i.e., in the report's initial state, fields with an 

asterisk symbol must contain an entry); however, field requirements may change based on certain data 

entry conditions (as noted in italic text throughout this document). Data entry conditions may also result 

in fields becoming non-required or disabled/not applicable. That fields are not labeled with an asterisk 

does not imply that they are optional; rather, all fields must contain a valid entity if the data is available 

(unless otherwise directed by FinCEN). 

Filing Information 

1. *Type of filing (select one) 

a. Initial report 

b. Correct/ Amend prior report 

i. BSA Identifier (BSA ID) of/associated with the prior report 

(If Correct/Amend prior report is selected, the BSA ID assigned to the previously 

filed report must be entered; otherwise, must be blank.) 

c. FinCEN directed back-filing 

(Select only if FinCEN directs the reporting person to file the report for a reportable 

transfer that was not previously reported.) 

2. *Date prepared 

(This is the date on which the report preparation is complete and it is ready for submission to 

FinCEN) 

3. Note to FinCEN 

(Must be blank unless otherwise directed by FinCEN) 
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Part I. Reporting Person Information 

The report must include information about the reporting person as determined according to 31 CFR 

1031.320( c ). Only one reporting person may be recorded. 

4. *Reporting Person category (select one) 

a. Person listed as closing or settlement agent on the closing or settlement statement for the 

transfer 

b. Person that prepares the closing or settlement statement for the transfer 

c. Person that files with the recordation office the deed or other instrument that transfers 

ownership of the residential real property 

d. Person that underwrites an owner's title insurance policy for the transferee with respect to 

the transferred residential real property 

e. Person that disburses in any form the greatest amount of funds in connection with the 

residential real property transfer 

f. Person that provides an evaluation of the status of the title 

g. Person that prepares the deed or any other legal instrument that transfers ownership of the 

residential real property 

5. *Reporting person's last name if an individual or legal name if an entity 

6. Entity (checkbox indicator) 

(Select if the reporting person is an entity; as a result, first/middle/suffix name must be blank.) 

7. *First name 

8. Middle name 

9. Suffix 

10. *Street address - number, street, and apt. or suite no. 

(Enter the reporting persons principal place of business in the United States.) 

11. *City 

12. *U.S. or U.S. Territory 

13. *State or U.S. Territory 

(If a US. Territory is selected in prior field, the same US. Territory will auto-populate in this 

field.) 

14. *ZIP code 

15. *Date of closing 
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Part II. Property Information 

The report must include information about the property involved in the reportable transfer. Multiple 

properties may be recorded, in which case Part IT of the report will repeat for each property. 

16. *Street address - number, street, and apt. or suite no. 

a. No street address (checkbox indicator) 

17. *City 

(Select if there is no street address for this property; as a result, only this field will be 

blank for the property address.) 

18. *U.S. or U.S. Territory 

19. *State or U.S. Territory 

(If a U.S. Territory is selected in prior field, the same U.S. Territory will auto-populate in this 

field.) 

20. *ZIP code 

21. *Legal description type (select one) 

a. Lot and block 

b. Subdivision 

c. Government rectangular survey system 

d. Metes and bounds 

e. Other I Description 

(If "Other" is selected, the type must be described.) 

22. *Legal description 

(Enter the legal description of the property verbatim from the relevant deed.) 
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Part III. Transferee Information 

The report must include information about the transferee entity and/or trust involved. Multiple transferees 

may be recorded, in which case Part Ill of the report will repeat for each transferee entity or trust. 

23. *Transferee type (select one) 

a. Transferee Entity 

b. Transferee Trust 

24. *Legal name 

(Enter the full legal name of the transferee entity or full legal name of the transferee trust, such as 

the full title of the agreement establishing the trust.) 

25. Alternate name (if any.) 

(Enter the trade name or "doing business as name. " This field applies to a transferee entity only.) 

26. *Total consideration paid or to be paid, by or on behalf of this transferee (in U.S. dollars.) 

a. No consideration paid (checkbox indicator) 

(Select if there was no consideration paid by or on behalf of this transferee entity or trust; 

as a result, total consideration paid above must be blank.) 

27. Foreign principal place of business with no U.S. location (checkbox indicator) 

(This field may be selected for a transferee entity only. Select if the entity's principal place of 

business is not in the United States and there is no U.S. location where business is conducted; as 

a result, only the entity's foreign principal place of business address is recorded below.) 

28. Address type (select one; this may contain an entry for a transferee entity only) 

a. Principal place of business (U.S.) 

(Select if the entity's principal place of business is in the United States and record the 

address as the only address for the entity.) 

b. Foreign principal place of business (non-U.S.) 

(Select if the entity's principal place of business is not in the United States and record the 

non-U.S. address below. If the entity has a primary location in the United States where it 

conducts business, a second set of address fields must be recorded by selecting the 

address type: -c- Primary U.S. location where entity conducts business.) 

c. Primary U.S. location where entity conducts business 

(Select if the entity has a primary location in the United States where it conducts business 

in addition to the recorded foreign principal place ofhusiness. This selection can only he 

made when the principal place of business is not in the United States.) 

29. 1'Street address - number, street, and apt. or suite no. 

(This field, along with the address fields below, may contain an entry for a transferee entity only. 

Enter the principal place ofhusiness and, if applicable, the primary U.S. location. Ifsuch 

principal place of business is not in the United States, record the foreign address of the principal 

place of business and then add a second set of address fields to record the primary location in the 

United States where the transferee entity conducts business, if any.) 

30. *City 

31. *Country/Jurisdiction 

32. *State or U.S. Territory 

(If a U.S. Territory is selected in prior field, the same U.S. Territory will auto-populate in this 

field.) 

33. *ZIP/Foreign postal code 
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34. *Type of unique identifying number (select one) 

a EIN 

b. SSN-ITIN 

c. Foreign tax identification number 

d. Foreign entity registration number 

(!'his type of unique identifying number may be selected for a transferee entity only.) 

e. No identification 

(Select if the transferee entity/trust does not have any of the above types of unique 

identifying numbers; as a result, unique identifying number and issuing jurisdiction must 

be blank.) 

35. *Unique identifying number 

36. Issuingjurisdiction (if foreign) 

(If a foreign tax identification number or foreign entity registration number is selected above, the 

foreign issuing jurisdiction must be entered; otherwise, this field must be blank.) 

3 7. *Date trust instrument was executed 

(This field is applicable only for a transferee trust.) 

38. Revocable trust (checkbox indicator) 

(!'his field is applicable only for a transferee trust. Select if the trust is revocable or leave blank if 

it is not.) 

Person(s) associated with this Transferee 

The report must include information about the person(s) associated with each recorded transferee. 

Multiple persons may be recorded per transferee. The same person may be reportable in more than one 

category of associated person, as both a beneficial owner and a signing individual. 

The following guidelines apply when recording the person(s) associated with the transferee: 

❖ For each recorded transferee entity: 

■ One or more beneficial owners, or parent/guardian of a beneficial owner minor child, 

must be recorded. 

■ One or more signing individuals must be recorded (if any) must be recorded. 

❖ For each recorded transferee trust: 

■ One or more beneficial owners (if any), or parent/guardian of a beneficial owner minor 

child where the child is a beneficial owner of the trust indirectly through a legal entity, 

must be recorded. 

■ One or more signing individuals (if any) must be recorded. 

■ One or more trustees, limited to trustees that are legal entities (if any), must be recorded 

- NOTE: A trustee that is an individual is considered to be a beneficial owner of the 

transferee trust for the purposes of this report; therefore, they should be recorded as a 

beneficial owner. If a trustee is a legal entity (reported here as a trustee that is a legal 

entity) or a trust, a beneficial owner of that legal entity or trust is considered to be a 

beneficial owner of the transferee trust. 

39. *Person type (select one) 

a. Beneficial Owner 

b. Signing Individual 

c. Trustee that is a Legal Entity 
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40. Parent/guardian information instead of minor child (checkbox indicator) 

(Seleci if the person type is beneficial owner and the parent/guardian ofthe beneficial owner 

minor child is being recorded instead of the minor child; otherwise, this field must be blank) 

41. *Last name or entity legal name of person associated with this transferee 

(Enter the last name of the beneficial owner I signing individua{, or the full legal name of the 

trustee that is a legal entity) 

42. Alternate name (if any) 

(This field applies to a trustee that is a legal entity only.) 

43. *First name 

(This field applies to a beneficial owner I signing individual only.) 

44. Middle name 

(This field applies to a beneficial owner I signing individual only.) 

45. Suffix 

(This field applies to a beneficial owner I signing individual only.) 

46. *Date of birth 

(This field applies to a heneficial owner I signing individual only.) 

47. Foreign principal place of business with no U.S. location (checkbox indicator) 

(This field may be selected for a trustee that is a legal entity only. Select if the entity~- principal 

place of business is not in the United States and there is no US. location where business is 

conducted; as a result, on(v the entity s foreign principal place of business address iii recorded 

below.) 

48. Address type (select one; this.field applies to a trustee that is a legal entity and must contain an 

entry) 

a. Principal place of business (U.S.) 

(Select if the entity s principal place qfbusiness is in the United States and record the 

address as the only address for the entity.) 

b. Foreign principal place of business (non-U.S.) 

(Select if the entity s principal place of business is not in the United States and record the 

non-US. address below. {fthe entity has a prima,y location in the United States where it 

conducts business, a second set of address fields must be recorded by selecting the 

address type: -c- Primary US. location where entity conducts business.) 

c. Primary U.S. location where entity conducts business 

(Select (f the entity has a primary location in the United States where it conducts business 

in addition to the recorded foreign principal place of business. This selection can only be 

made when the principal place qfbusiness is not in the United States.) 

49. 1'Street address - number, street, and apt. or suite no. 

(Jfthe person recorded is a beneficial owner or signing individual, enter current residential 

address. Ifthe person recorded is a trustee that is a legal entity, enter the principal place of 

business and, i(applicable, the primary US. location. If such principal place of business is not in 

the United States, record the foreign address here and then add a second set of address fields to 

record the primary location in the United States where the transferee entity conducts business, if 

any.) 

50. *City 

51. *Country/Jurisdiction 

52. *State or U.S. Territory 

53. *ZIP/Foreign postal code 

54. Type or unique identilying number (select one) 
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a. EIN 

b. SSN-TTIN 

c. Foreign tax identification number 

d. Foreign passport 

(I'his type of unique identifying number may be selected for a beneficial owner I signing 

individual only.) 

c. Foreign entity registration number 

(I'his type of unique identifying number may be selected for a trustee that is a legal entity 

only.) 

f. No identification 

(Select if the trustee that is a legal entity does not have any of the above types of unique 

identffying numbers; as a result, unique identffying number and issuingjurisdiction must 

be blank.) 

55. * Unique identifying number 

56. Issuing jurisdiction (if foreign) 

(If a foreign tax identification number, foreign passport, or foreign entity registration number is 

selected above, the foreign issuing jurisdiction must be entered; otherwise, this field must be 

blank.) 

57. Beneficial Owner category 

(J'his .field applies to a bene_ficial owner associated with a transferee trust only. Select all that 

apply.) 

a. An individual who is a trustee of the transferee trust 

b. An individual other than a trustee with the authority to dispose of transferee trust assets 

c. A beneficiary who is the sole permissible recipient of income and principal from the 

transferee trust or who has the right to demand a distribution of, or withdraw, 

substantially all of the assets from the transferee trust 

d. A grantor or settlor who has the right to revoke the transferee trust or otherwise withdraw 

the assets of the transferee trust 

e. A beneficial owner ofa legal entity or trust that is a trustee orthe transferee trust 

f. A beneficial owner of a legal entity or trust with authority to dispose of transferee trust 

assets in a manner other than as a trustee of a transferee trust 

g. A beneficial owner of a legal entity or trust that is the sole permissible recipient of 

income and principal from the transferee trust or who has the right to demand a 

distribution of, or withdraw, substantially all of the assets from the transferee trust 

h. A beneficial owner of legal entity or trust that is a grantor or settlor with the right to 

revoke the transferee trust or otherwise withdraw the assets of the transferee trust 

58. Country/Jurisdiction of citizenship 

(Select all that apply for the beneficial owner.) 

59. Authorization capacity description (select one for the signing individual). 

a. Employee 

b. Agent 

c. Partner 

d. Officer 

e. Counsel 

f. Trustee 

g. Other I Description 

(If "Other" is selected, a description must be entered.) 

60. Name of employer, principal, partnership, etc. 

(Enter for signing individual unless authorization capacity above is "Other" in which case this 

field may be blank.) 
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Part IV. Transferor Information 

The report must include information about the transferor individual, entity, and/or trust involved in the 

reportable transfer. Multiple transferors may be recorded, in which case Part N of the report will repeat 

for each transferor. 

61. If transferor is not an individual, select the appropriate option 

(By default, the transferor is considered an individual; othenvise, one of the below values must be 

selected.) 

a. Transferor Entity 

b. Transferor Trust 

62. *Transferor's last name if an individual or legal name if an entity 

(Enter the transferor's last name if an individual, full legal name if a legal entity, or full legal 

name, such as the full title ~/'the agreement establishing the trust, ff'a trust.) 

63. Alternate name (if any) 

(This field applies to a transferor entity only.) 

64. *First name 

(This field applies to a transferor individual only.) 

65. Middle name 

(This field applies to a transferor individual only.) 

66. Suffix 

(This field applies to a tramferor individual only.) 

67. *Date of birth 

(This field applies to a transferor individual only.) 

68. Foreign principal place of business with no U.S. location (checkbox indicator) 

(This field may be selected for a transferor entity only. Select if the entity's principal place of 

business is not in the United States and there is no US. location where business is conducted; as 

a result, only the entity's foreign principal place of business address is recorded below.) 

69. Address type (select one; thisfield applies to a transferor entity and must contain an entry) 

a. Principal place of business (U.S.) 

(Select if the entity's principal place of business is in the United States and record the 

address as the only address for the entity.) 

b. Foreign principal place of business (non-U.S.) 

(.~elect if the entity:~ principal place ofhusiness is not in the United States and record the 

non-US. address helow. lfthe entity has a primary location in the United States where it 

conducts business, a second set of address fields must be recorded where the address type 

selected is -c- Primary US. location where business is conducted.) 

c. Primary U.S. location where business is conducted 

(Select if the entity has a primary location in the United States where it conducts business 

in addition to the recorded foreign principal place of business. This selection can only be 

made when the principal place of business is not in the United States.) 

70. *Street address - number, street, and apt. or suite no. 

(If the transferor is an individual. enter current residential address. If the transferor is an entitv. 

enter the principal place of business and, if applicable, the primary US. location. If such 

principal place of business is not in the United States, record the foreign address here and then 

add a second set of address fields to record the primary location in the United States where the 

transferee entity conducts business, if any.) 
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71. *City 

72. *Country/Jurisdiction 

73. *State or U.S. Territory 

74. *ZlP/.Foreign postal code 

75. * Type of unique identifying number (\·elect one) 

a. EIN 

b. SSN-ITTN 

c. Foreign lax identification number 

d. Foreign passport 

(This type of unique identifying number may be selected for a transferor individual only.) 

e. Foreign entity registration number 

(This type of unique identifying number may be selected for a transferor entity only.) 

f. No identification 

(Select if the transferor entity or trust does not have any of the above types of unique 

identifying numbers; as a result, unique identifying number and issuing jurisdiction must 

be blank.) 

76. *Unique identifying number 

77. Issuing jurisdiction (if foreign) 

(If a foreign tax identification number, foreign passport, or foreign entity registration number is 

selected above, the foreign issuing jurisdiction must be entered; otherwise, this field must he 

blank.) 

78. *Date trust instrument was executed 

(Thisfield applies to a tran.\feror trust only.) 

If the Transferor is a trust, then record the Trustee( s) 

The rep011 must include information about the trustee(s) of each recorded transferor trust. Multiple 

trustees may be recorded per transferor trust. 

79. *Trustee's last name, ifan individual or legal name if an entity 

80. Entity (checkbox indicator) 

(.Select if the trustee is an entity; as a result, first/middle/suffix name and date of birth must be 

blank.) 

81. Alternate name (if any) 

(This field applies to a trustee entity only.) 

82. *First name 

(This field applies to a trustee individual only.) 

83. Middle name 

(This.field applies to a trustee individual only.) 

84. Suffix 

(This field applies to a trustee individual only.) 

85. Foreign principal place of business with no U.S. location (checkbox indicator) 

(This field may be selected for a trustee entity only. Select if the entity s principal place of 

business is not in the United States and there is no US. location where business is conducted; as 

a result, only the entity s foreign principal place of business address is recorded below.) 

86. Address type (.~elect one; this field applies to a trustee entity and must contain an entry) 
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a. Principal place of business (U.S.) 

(Select if the entity s principal place of business is in the United States and record the 

address as the only address for the entity) 

b. Foreign principal place of business (non-U.S.) 

(Select if the entity s principal place of business is not in the United States and record the 

non-U.S. address below. If the entity has a primary location in the United States where it 

conducts business, a second set of address fields must be recorded where the address type 

selected is -c- Primary U.S. location where business is conducted.) 

c. Primary U.S. location where business is conducted 

(Select if the entity has a primary location in the United States where it conducts business 

in addition to the recorded foreign principal place of business. This selection can only be 

made when the principal place of business is not in the United States.) 

87. *Street address - number, street, and apt. or suite no. 

(lfthe trustee is an individual, enter current residential address. If the trustee is an entity. enter 

the principal place of business and, if applicable, the primary U.S. location. If such principal 

place of business is not in the United States, record the foreign address here and then add a 

second set of address fields to record the primary location in the United States where the 

transferee entity conducts business, if any.) 

88. *City 

89. *Country/Jurisdiction 

90. *State or U.S. Territory 

91. *ZIP/Foreign postal code 

92. * Type of unique identifying number (select one) 

a. EIN 

b. SSN-ITIN 

c. Foreign tax identification number 

d. Foreign passport 

(This type of unique identifying number may be selected for a trustee individual only) 

e. Foreign entity registration number 

(This type of unique identifying number may be selected for a trustee entity only) 

f. No identification 

(Select if the trustee entity does not have any of the above types of unique identifying 

numbers; as a result, unique identifying number and issuing jurisdiction must be blank.) 

93. *Unique identifying number 

94. Issuingjurisdiction (if foreign) 

(If a foreign tax identification number, foreign passport, or foreign entity registration number is 

selected above, the foreign issuing jurisdiction must be entered; otherwise, this field must be 

blank.) 
Federal Register / Vol. 89, No. 219 / Wednesday, November 13, 2024 / Notices 89715 


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Part V. Payment Information 

The report must include information about the total consideration paid for the reportable transfer as well 

as each payment made by or on behalf of each recorded transferee entity /trust. 

95. *Total consideration paid or to be paid for the transfer by all transferees, including transferees not 

reportable in Part Ill (in U.S. dollars). 

a. No consideration paid (checkbox indicator) 

(Select if there is no paid consideration associated with the transfer, such as in the case of 

a non-sale transfer; as a result, the above total consideration paid field along with all 

remaining fields in the section must be blank.) 

96. Hard money, private, or other similar loans involved in reportable transfer 

(Select if the buyer is using credit extended by a person that is not a financial institution with an 

obligation to maintain an anti-money laundering program and an obligation to report suspicious 

transactions under Chapter X of Subtitle B of Title 31 of the Code of Federal Regulations; as a 

result, the type of credit must be entered below) 

97. Type of hard money, private, and other similar loans (select one) 

a. Hard money 

b. Private money 

c. Seller financed 

d. Other I Description 

(If "Other" is selected, a description must be entered.) 

Payment made by or on behalf of the Transferee entity/trust 

The report must include information about each payment made by or on behalf of each recorded 

transferee entity/trust; however, this section must be blank when "No consideration paid" is indicated 

above for the transfer. Multiple payments may be recorded. 

98. 1'Payment amount (in U.S. dollars.) 

99. * .Payment method 

a. Wire 

b. Cashier's check 

c. Personal/Business check 

d. Money order 

e. U.S. currency 

f. Foreign currency 

g. Digital assets 

h. Stocks/Bonds 

i. Other I Description 

(If "Other" is selected, a description must be entered.) 

I 00. If foreign payment method, select currency code 

(Select the currency code from the ISO-4217 currency code list when foreign currency payment 

method is selected above. If the appropriate foreign currency code is not found in this list, enter 

a description, such as the currency name and issuing country/jurisdiction name, below.) 

a. If the foreign currency code is not listed above, enter description 

IO 1. Payment not from financial institution account 

(Select ff the recorded payment did not originate ji-om an account held at a.financial institution; 

us a result, uccuunl number and financial inslituliun legal name must be blank.) 

I 02. ~ Account number 
89716 Federal Register / Vol. 89, No. 219 / Wednesday, November 13, 2024 / Notices 

[FR Doc. 2024–26262 Filed 11–12–24; 8:45 am] 

BILLING CODE 4810–02–C 

UNITED STATES SENTENCING 

COMMISSION 

Requests for Applications; 

Practitioners Advisory Group 

AGENCY: United States Sentencing 

Commission. 

ACTION: Notice. 

SUMMARY: The United States Sentencing 

Commission is issuing this notice to 

advise the public that the application 

period for membership for the First 

Circuit in the Practitioners Advisory 

Group has been extended to December 

2, 2024. The deadline was originally 

October 14, 2024. An applicant for 

voting membership for the First Circuit 

of the Practitioners Advisory Group 

should apply by sending a letter of 

interest and resume to the Commission 

as indicated in the ADDRESSES section 

below. 

DATES: Application materials for voting 

membership of the Practitioners 

Advisory Group should be received not 

later than December 2, 2024. 

ADDRESSES: An applicant for voting 

membership of the Practitioners 

Advisory Group should apply by 

sending a letter of interest and resume 

to the Commission by electronic mail or 

regular mail. The email address is 

pubaffairs@ussc.gov. The regular mail 

address is United States Sentencing 

Commission, One Columbus Circle NE, 

Suite 2–500, South Lobby, Washington, 

DC 20002–8002, Attention: Public 

Affairs—PAG Membership. 

FOR FURTHER INFORMATION CONTACT: 

Jennifer Dukes, Senior Public Affairs 

Specialist, (202) 502–4597. More 

information about the Practitioners 

Advisory Group is available on the 

Commission’s website at www.ussc.gov/ 

advisory-groups. 

SUPPLEMENTARY INFORMATION: The 

United States Sentencing Commission is 

an independent agency in the judicial 

branch of the United States 

Government. The Commission 

promulgates sentencing guidelines and 

policy statements for federal courts 

pursuant to 28 U.S.C. 994(a). The 

Commission also periodically reviews 

and revises previously promulgated 

guidelines pursuant to 28 U.S.C. 994(o) 

and submits guideline amendments to 

the Congress not later than the first day 

of May each year pursuant to 28 U.S.C. 

994(p). 

The Practitioners Advisory Group is a 

standing advisory group of the United 

States Sentencing Commission 

established pursuant to 28 U.S.C. 995 

and Rule 5.4 of the Commission’s Rules 

of Practice and Procedure. Under the 

charter for the advisory group, the 

purpose of the advisory group is (1) to 

assist the Commission in carrying out its 

statutory responsibilities under 28 

U.S.C. 994(o); (2) to provide to the 

Commission its views on the 

Commission’s activities and work, 

including proposed priorities and 

amendments; (3) to disseminate to 

defense attorneys, and to other 

professionals in the defense community, 

information regarding federal 

sentencing issues; and (4) to perform 

other related functions as the 

Commission requests. The advisory 

group consists of not more than 17 

voting members, each of whom may 

serve not more than two consecutive 

three-year terms. Of those 17 voting 

members, one shall be Chair, one shall 

be Vice Chair, 12 shall be circuit 

members (one for each federal judicial 

circuit other than the Federal Circuit), 

and three shall be at-large members. 

To be eligible to serve as a voting 

member, an individual must be an 

attorney who (1) devotes a substantial 

portion of his or her professional work 

to advocating the interests of privatelyrepresented individuals, or of 

individuals represented by private 


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103. *Financial institution legal name 

104. Payment associated with all recorded transferees 

(Select if the recorded payment is associated with all recorded transferee entities and trusts; as 

a result, the "Associated Transferee legal name " must be blank.) 

105. * Associated transferee legal name 

(Enter the full legal name of the recorded transferee entity or trust that is associated with this 

payment. If more than one recorded transferee is associated with this payment, add multiples of 

this field to record each associated transferee legal name. If this payment is associated with all 

recorded transferees, leave this field blank and select "Payment associated with all recorded 

Transferees" above.) 

106. All payors are recorded transferees (checkbox indicator) 

(Select if this payment only involved payors that are the above recorded transferee entities or 

trusts. If not selected, the name of the payor(s) must be entered in the fields below.) 

1 07. *Payor 's last name if an individual or legal name if an entity 

(Enter the last name of the payor if an individual or the legal name of the payor if an entity. 

Record multiple payors by adding additional sets of payor name fields.) 

108. Entity (checkbox indicator) 

(Select if the payor is an entity; as a result, first/middle/suffix name must be blank) 

109. *First name 

110. Middle name 

111. Suffix