LegaLees

Real Estate Registration Under FinCEN – Setback

2026-03-24T19:16:14-04:00

Before Trump's second term, we were all worried about what FinCEN was going to require. The Financial Crimes Enforcement Network of the federal government had imposed a program where if you owned a little company of any type (corporation, LLC, or limited partnership) you had to register all of the “beneficial owners” of the company in 2024.

Court orders kept pushing the time back, until it was after Trump was inaugurated in 2025. The penalties for not registering were huge. They were draconian. The ongoing requirements after you originally registered were nearly impossible to comply with, and the penalties for not complying were big enough that the federal government could basically destroy any small business it wanted to go after.

In my opinion, FinCEN was nothing more than a way that the government could destroy any small business that it decided it wanted to go after. It was a weaponization of the government against small business that didn’t act politically correct. Call that a conspiracy theory, but it is clear to me that that was what was happening. It was a huge overreach by the government.

People keep asking me if FinCEN is dead or not. The company registration requirements were killed once Trump came into office, but FinCEN is alive and well. If you registered with FinCEN under their beneficial owner’s requirements, you can’t “unregister.” They have your information.

They actually don’t have any information they didn’t already have, but you just delivered it in a nice package for them. I got my FinCEN number personally but never registered any of my companies.

FinCEN is still very active doing what they were created to do. They monitor the BSA. No, not the Boy Scouts of America – the Bank Secrecy Act. They track financial transactions and catch money laundering. They weren’t created to harass mom and pop shops. I wouldn’t be surprised if we haven’t seen the last of the Corporate Transparency Act, which required the beneficial ownership registration, but for now it is dead – Happy Day!

New Registration Requirement

FinCEN is implementing a new regulation requirement that went into effect March 1, 2026, dealing with real estate.

It’s called the Residential Real Estate Reporting Rule. It’s supposed to catch money laundering in the US residential real estate world. It won’t be a big part of your world, but you should know about it.

The criterion for registration says:

Only residential real estate is involved. That is family homes up to four units and vacant land to be used for residential development.
The transaction has to be a cash deal. If it is financed, then there is no need to report it.
The buyer has to be an entity such as an LLC.

You only have to report if all three of these criteria are met.

Since 2016 FinCEN has had real estate disclosure rules known as “geographic targeting orders.” They only applied in a few cities such as New York and Miami. The registration requirements that went into effect March 1^st basically just expanded the existing requirements to nationwide compliance.

The Treasury Secretary under Biden, Janet Yellen, ⁠has said as much as $2.3 billion was laundered through U.S. real estate between 2015 and 2020, and stopping this is high priority. $2.3 billion is peanuts compared to the fraud being committed in the government programs in Minnesota (estimated up to $19 Billion), and the estimates go into the hundreds of billions if you take in just California, Washington, and Massachusetts.

FinCEN Smackdown

The Pacific Legal Foundation brought a case against FinCEN and the real estate reporting requirements claiming that the reporting requirements exceeded FinCEN’s statutory authority.

On March 19^th, U.S. District Judge Jeremy Kernodle in Texas ruled that the real estate reporting did in fact exceed FinCEN’s authority.

He ruled that FinCEN failed to prove that all non-financed transfers to entities are "categorically suspicious." He noted that many people use LLCs or trusts for legitimate reasons like privacy, liability protection, or tax planning.

The current reporting requirement doesn’t affect many real estate investors. The judge warned that if the government could label an entire category of normal commerce as "suspicious" without specific proof, it would give FinCEN unlimited, far-reaching power over almost any transaction imaginable. I agree with the judge.

Basically, the reporting requirement has halted. The government says they will appeal, but the FinCEN website says compliance has been suspended.

I will keep you posted on future issues,

Lee Phillips, JD

United States Supreme Court Counselor

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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We’re live - Day 2 of the Summit has begun

2026-03-18T11:54:33-04:00

Hi ,

We just went live—Day 2 of the Wealth Summit is happening now.

👉 Jump in here: https://us02web.zoom.us/j/84237348986

Here’s what’s unfolding today:

✅ The truth about the 2026 tax law shifts

✅ How to legally cut your taxes by 20%+

✅ Why 9 out of 10 LLCs collapse—and how to fix yours fast

✅ The legal fortress wealthy families already use to stay untouchable

This is your moment. If you miss Day 2, you miss the strategies the wealthy are already putting in place.

Join now—before it’s too late.

See you inside,

Lee Phillips

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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We’re live - Day 1of the Wealth Summit has begun

2026-03-17T11:56:37-04:00

Hi ,

We just went live—Day 1 of the Wealth Summit is happening now.

👉 Jump in here: https://us02web.zoom.us/j/84237348986

Here’s what’s unfolding today:

✅ How to slash your taxes by 20%+ legally

✅ The hidden flaw that makes most LLCs useless (and how to fix it fast)

✅ The legal fortress wealthy families already use to protect their fortunes

✅ The moves you must make before the 2026 tax shifts hit

This is your moment. If you miss Day 1, you miss the strategies the wealthy are already putting in place.

CLICK HERE TO JOIN!

See you inside,

Lee Phillips

U.S. Supreme Court Counselor | Federal Tax Court Attorney

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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Today decides if your wealth survives 2026

2026-03-17T08:10:06-04:00

Hi ,

We’re less than 4 hours away from Day 1 of the Wealth Summit

The Wealth Summit goes live today at 12:00 pm ET / 9:00 am PT / 10:00 am MT / 11:00 am CT.

👉 Your link to join: https://us02web.zoom.us/j/84237348986

Here’s what’s waiting for you:

✅ How to slash your taxes by 20%+ legally

✅ The hidden flaw that makes most LLCs useless (and how to fix it fast)

✅ The legal fortress wealthy families already use to protect their fortunes

✅ The moves you must make before the 2026 tax shifts hit

This is your final warning—if you miss it, you’ll be left behind while the wealthy lock in their protection.

We’re starting on time. Add this to your calendar now:

ADD TO YOUR CALENDAR NOW!

See you inside,

Lee Phillips

U.S. Supreme Court Counselor | Federal Tax Court Attorney

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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We’re live - Day 2 of the Summit has begun

2026-02-25T11:45:53-05:00

Hi ,

We just went live—Day 2 of the Wealth Summit is happening now.

👉 Jump in here: https://us02web.zoom.us/j/84237348986

Here’s what’s unfolding today:

✅ The truth about the 2026 tax law shifts

✅ How to legally cut your taxes by 20%+

✅ Why 9 out of 10 LLCs collapse—and how to fix yours fast

✅ The legal fortress wealthy families already use to stay untouchable

This is your moment. If you miss Day 2, you miss the strategies the wealthy are already putting in place.

Join now—before it’s too late.

See you inside,

Lee Phillips

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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2 hours to go - Day 2 of the Wealth Summit

2026-02-25T10:02:24-05:00

Hi ,

We’re just 2 hours away from Day 2 of the Wealth Summit.

👉 Your link to join: https://us02web.zoom.us/j/84237348986

Here’s what you’ll see live today:

✅ Slash your tax bill by 20%+ legally

✅ Seal the cracks that destroy most LLCs

✅ Protect your family from lawsuits, probate, and the IRS

✅ The exact playbook wealthy families already use ahead of 2026

Show up live - there’s no replay. This is your chance to lock in protection while everyone else stays exposed.

See you in 2 hours,
Lee Phillips
U.S. Supreme Court Counselor | Federal Tax Court Attorney

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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Today decides if your wealth survives 2026

2026-02-24T11:17:42-05:00

Hi ,

We’re less than an hour away from Day 1 of the Wealth Summit

The Wealth Summit goes live today at 12:00 pm ET / 9:00 am PT / 10:00 am MT / 11:00 am CT.

👉 Your link to join: https://us02web.zoom.us/j/84237348986

Here’s what’s waiting for you:

✅ How to slash your taxes by 20%+ legally

✅ The hidden flaw that makes most LLCs useless (and how to fix it fast)

✅ The legal fortress wealthy families already use to protect their fortunes

✅ The moves you must make before the 2026 tax shifts hit

This is your final warning—if you miss it, you’ll be left behind while the wealthy lock in their protection.

We’re starting soon. Don’t get shut out.

👉 Join us now

See you inside,

Lee Phillips

U.S. Supreme Court Counselor | Federal Tax Court Attorney

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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I watched confidence evaporate

2026-02-01T11:19:30-05:00

Hi ,

I watched a room full of smart people realize the same thing at the same time.

They were confident.
Experienced.
Successful.

And still exposed.

Not because they were careless.
Because nobody had ever shown them how the system actually behaves.

One segment of the Wealth Summit did that.

It wasn’t loud.
It wasn’t dramatic.

It was just… precise.

That’s usually when things get uncomfortable.

If you want to see the session that caused that shift, it’s here:

Watch it now →

This segment walks through:

Where confidence replaces verification
Why advisors rarely test structures under stress
How quiet risks grow unnoticed
What needs attention before 2026 makes it obvious

I’ve learned something over the years.

The most dangerous words in wealth planning are
“I think we’re fine.”

Watch the session here →

Lee Phillips
U.S. Supreme Court Counselor
Federal Tax Court Attorney

P.S. Smart people don’t lose money because they’re dumb. They lose it because nobody challenged their assumptions early enough.

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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Merry Christmas, {{ subscriber.first_name | capitalize }}

2025-12-25T13:47:25-05:00

Merry Christmas.

Today isn’t a day for heavy thinking or long to-do lists.
It’s a day for family, laughter, gratitude — and maybe a little rest.

So I’ll keep this simple.

I hope today brings you joy with the people you care about.
I hope it brings peace after a long year.
And I hope the year ahead brings real prosperity — the kind you don’t just earn, but actually get to keep.

After more than 40 years of working with investors and business owners, I’ve learned something most people never hear:

Wealth isn’t just built by making good decisions.
It’s protected by understanding the rules before they change.

That’s why I recorded The 2026 Wealth Lockdown Briefing —
a private training you can watch anytime that explains, in plain English, how to legally protect your assets before the coming tax changes take effect.

Inside, I walk through:

* Why most LLCs don’t protect what people think they do
* How high-income earners legally reduce their tax exposure
* The 2026 shifts already in motion that investors should be preparing for
* And how to create real protection without complexity or guesswork

No urgency today.
No pressure.

If you find yourself with a quiet moment — today or over the next few days — it’s here for you:

👉 Watch the briefing when it suits you

Enjoy your Christmas.
And here’s to a new year filled with clarity, confidence, and prosperity.

Warm regards,
Lee Phillips
U.S. Supreme Court Counselor | Federal Tax Court Attorney

P.S. Most people don’t think about protection until after the holidays.
That’s often when problems begin.
If you want to start 2026 on solid ground,

👉 you can watch the briefing here.

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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A Christmas Eve note for you

2025-12-24T17:54:53-05:00

I’ll keep this short.

Christmas Eve has a way of slowing things down.

The noise fades a little.
The year comes into focus.

Before tomorrow arrives, I wanted to wish you something simple and genuine:

Joy with the people you care about.
Peace going into the new year.
And real prosperity — the kind you actually get to keep.

I’ve spent more than 40 years helping investors and business owners protect what they’ve built, and here’s what I know to be true:

Smart, hardworking people lose money every year — not because they aren’t doing well, but because no one ever showed them how to protect it properly.

That’s why I recorded The 2026 Wealth Lockdown Briefing — a private training you can watch right now that explains, in plain English, how to legally protect your wealth before the next round of tax changes takes effect.

Inside, I’ll walk you through:

* Why most LLCs don’t protect what people think they do
* How the wealthy legally keep more of what they earn
* The 2026 shifts already underway that investors should be preparing for
* And how to create real protection — not false comfort

No hype.
No pressure.
Just clarity.

If you have a quiet moment this evening or over the holidays, you can watch it here:

👉 Watch the briefing now

Wishing you a Christmas filled with joy, peace, and prosperity — and a new year built on clarity and confidence.

Warm regards,
Lee Phillips
U.S. Supreme Court Counselor | Federal Tax Court Attorney

P.S. Most people wait until January to think about this.
January is often too late.

If keeping more of what you earn in 2026 matters to you,

👉 you can watch the briefing now

LegaLees, LLC
556 E 1400 S
Orem UT 84097
USA

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