Fidelity Files Lawsuit Over FinCEN Real Estate Reporting Rule

Fidelity National Financial and Fidelity Title Insurance Company have filed a lawsuit in Florida federal court challenging the new residential transfer reporting rules scheduled to go into effect in December 2025.

​The rule requires reporting on all-cash home purchase transactions of private customer information and information about trusts and other entities purchasing the property.

In its suit, Fidelity argues that FinCEN is overstepping its legal authority, as the rule would require reporting on all transactions whether or not they are considered suspicious, whereas federal law only authorizes reporting of suspicious transactions. The lawsuit also claims the reporting amounts to an unconstitutional search of information and also violates the U.S. Commerce Clause by requiring reporting on local real estate transactions and not interstate commerce.