In systems or processes involving only u and d quarks, the Standard Model (SM) predictions of T violating effects, originating from the CP violating phase in the quark mixing scheme, are several orders of magnitude smaller than present experimental sensitivities. Precision correlation measurements in beta decay provide simple and powerful probes to test fundamental symmetries and to search for deviations from the SM predictions. In this contribution we present the status of an experiment aiming at determining the triple correlation coefficient R in polarized neutron decay. This requires the measurement of the transverse component of the electron polarization, perpendicular to the neutron spin and to the electron momentum. Such a correlation has never been addressed in neutron decay so far. The experiment uses the polarized cold neutron beam of the FUNSPIN area at PSI. The neutrons decay in flight and the electrons are tracked by a set of MWPC located around the beam. The transverse polarization component is analyzed by large angle Mott scattering on thin Pb foils. The status of the experiment will be presented along with results from the commissioning runs.