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Based on density functional theory (DFT) calculations, we predict that amonolayer of OsCl$_3$---a layered material whose interlayer coupling is weakerthan in graphite---possesses a quantum anomalous Hall (QAH) insulating phasegenerated by the combination of honeycomb lattice of osmium atoms, their strongspin-orbit coupling (SOC) and ferromagnetic ground state with {\em in-plane}easy-axis. The band gap opened by SOC is \mbox{$E_g \simeq 67$ meV} (or\mbox{$\simeq 191$ meV} if the easy-axis can be tilted out of the plane by anexternal electric field), and the estimated Curie temperature of such {\emanisotropic planar rotator} ferromagnet is $T_\mathrm{C} \lesssim 350$ K. TheChern number $\mathcal{C}=-1$, generated by the manifold of Os $t_{2g}$ bandscrossing the Fermi energy, signifies the presence of a single chiral edge statein nanoribbons of finite width, where we further show that edge states arespatially narrower for zigzag than armchair edges and investigate edge-statetransport in the presence of vacancies at Os sites. Since $5d$ electrons of Osexhibit {\em both} strong SOC and moderate correlation effects, we employ DFT+Ucalculations to show how increasing on-site Coulomb repulsion $U$: graduallyreduces $E_g$ while maintaining $\mathcal{C} = -1$ for $0 < U < U_c$; leads tometallic phase with $E_g = 0$ at $U_c$; and opens the gap of topologicallytrivial Mott insulating phase with $\mathcal{C}=0$ for $U > U_c$.

physical review. b./physical review. b

Correlation-driven topological phase transition from in-plane magnetized  quantum anomalous Hall to Mott insulating phase in monolayer transition metal  trichlorides