The kidney filters and reclaims both ions and macromolecules of various size. Endocytosis is known to play a key role in protein reabsorption by proximal tubule cells (PTC) yet the fate of endocytosed molecules remains unknown. We have utilized and maximized intravital 2‐photon microscopy to optimize the signal from filtered Texas Red – rat serum albumin (TR‐RSA) and follow its endocytosis and intracellular trafficking in PTC compared with fluorescent dextrans and beta‐2‐microglobulin (B2M). Studies in Munich‐Wistar rats (MW), that have surface glomeruli, under optimal conditions using 12‐bit non‐descanned detectors gave background corrected glomerular sieving coefficient (GSC) values of 0.030 +/−0.005. Studies conducted in fasted vs fed MW rats revealed a drop in the GSC to 0.011 ± 0.005 in fasted rats. Endocytosis of RSA by proximal tubules (PT) consistently occurred within minutes after i.v. infusion followed by rapid and prolonged transcytosis of TR‐RSA via both intracellular vesicles and tubular projections at the basolateral‐interstitial junction of PT's. This was not true for filtered fluorescent dextrans or B2M. FcRn was visualized in the apical membrane of PTC with indirect IF and PT: apical membrane preparations were Western blot positive of FcRn. These studies indicate there is physiologic regulation of glomerular permeability and that FcRn mediates the transcytosis of albumin within PTC.