Assessments, Condos vs. Town Homes
As the end of the year approaches, there has been no determination that community associations will be relieved of the requirement to comply with the Corporate Transparency Act (CTA). While we remain hopeful of a legislative...more
El 4/18/24, FinCEN actualizó sus preguntas frecuentes (“FAQs”) sobre reportes de beneficiarios finales e incluyó por primera vez información sobre las “HOAs” (“Home Owners Associations”). FinCEN confirma en esta actualización...more
On 4/18/24, FinCEN updated its Beneficial Ownership Reporting FAQs and included for the first time information regarding HOAs (Home Owners Associations). FinCEN confirms in this update that HOAs are reporting companies under...more
Since the enactment of the Corporate Transparency Act (CTA), property ownership associations such as homeowner associations and condominiums (collectively, POAs) have struggled to understand their beneficial ownership...more
On January 1, 2024, the Corporate Transparency Act (the “CTA”) became effective. The main goal of the CTA is to combat financial crimes by enhancing transparency in the ownership and control of corporations. ...more
It’s easy to forget that community associations are corporations—and yet, today most community associations are incorporated. Community associations are subject to their state’s corporate statutes; but soon, they will be...more