Quick Answer: As of August 14, 2026, FinCEN permanently eliminated Beneficial Ownership Information (BOI) reporting requirements for all domestic companies and US persons. If you hold land in a US-formed LLC, you no longer need to file a BOI report. The only entities still required to file are foreign companies registered to do business in the US. Cash transactions over $10,000 still trigger Currency Transaction Reports (CTRs) handled by your closing agent. For most individual FSBO land sellers, FinCEN compliance is minimal.
What Changed in 2026: BOI Reporting Permanently Eliminated for US Entities
The Corporate Transparency Act (CTA) originally required most US LLCs and corporations to report their beneficial owners to FinCEN starting January 1, 2024. After nationwide injunctions in late 2024, Treasury suspended enforcement in March 2025, and on August 14, 2026, FinCEN issued a final rule permanently removing all BOI reporting requirements for domestic entities and US persons.
What this means for land holders:
- US-formed LLCs: No BOI filing required — the obligation is permanently gone
- US persons: Exempt from all BOI reporting. FinCEN is deleting previously submitted US person data from its database
- Foreign entities: Foreign companies registered to do business in the US must still file BOI reports identifying their non-US beneficial owners
Source: 91 FR 52508, effective August 14, 2026.
Cash Transaction Reporting (Still Active)
Unlike BOI reporting, cash transaction reporting remains fully in effect. Title companies and financial institutions must file a Currency Transaction Report (CTR) for cash transactions over $10,000 (31 CFR 1010.311). This includes:
- Cash payments at closing over $10,000
- Multiple cash payments that total over $10,000 within a 12-month period (structuring detection)
- Cashier's checks and money orders from unknown sources
Wire transfers and personal checks are generally not subject to CTR requirements — they have their own reporting trails through the banking system.
Residential Real Estate Reporting Rule: Currently Vacated
FinCEN's Residential Real Estate Reporting Rule, which would have required title companies to report beneficial ownership for certain cash purchases by entities and trusts, was vacated by a federal court in Flowers Title Companies, LLC v. Bessent (E.D. Tex., March 19, 2026). The case is on appeal at the Fifth Circuit (No. 26-40285). Compliance is currently paused and no reports are required under this rule while litigation continues.
If the rule is eventually reinstated, it would apply to cash purchases of residential property by entities or trusts — not to individual buyers or seller-financed transactions.
What FSBO Land Sellers Need to Do in 2026
- Individual sellers (personal name): Minimal requirements. No BOI filing needed. If you receive over $10,000 in cash, the closing agent files the CTR
- LLC sellers: No BOI filing needed (permanently exempt as of August 2026). Keep your LLC in good standing with your state
- Owner-financed sales: Monthly payments received via check, wire, or ACH do not trigger CTR requirements. Document all cash payments
- All sellers: Keep records of the buyer's identity and the transaction for your own protection
What Buyers Need to Know
- Buying in a US LLC: No FinCEN BOI filing required
- Cash purchases: Be prepared for the closing agent to require identification and source-of-funds documentation for large cash transactions
- Owner financing: Regular payments are not subject to special FinCEN reporting
Penalties for Non-Compliance
- CTR violations: Civil and criminal penalties for structuring cash transactions to avoid reporting
- Foreign entity BOI failure: Civil penalties up to $500/day, criminal penalties up to $10,000 and 2 years imprisonment (applies only to foreign entities)
Bottom Line
The regulatory landscape for land transactions simplified considerably in 2026. The biggest change: domestic LLCs and US persons are permanently exempt from FinCEN's BOI reporting. Cash transaction reporting through CTRs remains active and is handled by your closing agent or title company. For most individual FSBO land sellers, FinCEN compliance requires no direct action on your part.
Sources: FinCEN.gov, Treasury Press Release SB0603, 91 FR 52508, 31 CFR 1010.311, Flowers Title Companies v. Bessent (E.D. Tex. 2026), Acre Dreams August 2026.
