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U.S. officials disclosed plans Wednesday to subject certain types of residential real-estate transactions to anti-money laundering and suspicious-activity-reporting requirements.

Pursuant to the 132-page notice of proposed rulemaking, the U.S. Treasury Department’s Financial Crimes Enforcement Network, also known as FinCEN, would require “certain persons involved in real estate closings and settlements” to flag the transactions described therein by filing a new, streamlined version of suspicious activity reports, which the bureau referred to as “real estate reports.”

The reporting requirement would cover “non-financed transfers of residential real property to specified legal entities and trusts on a nationwide basis,” according to the bureau, but would not cover payments made directly to individuals during real estate closings and settlements.

“In contrast to the beneficial-ownership reporting requirements outlined in the CTA [Corporate Transparency Act], this proposed rule is a tailored reporting requirement that would capture a particular class of activity that Treasury deems high-risk and that warrants reporting on a transaction-specific basis,” FinCEN explained in the proposal.