News & Analysis as of

Reporting Requirements Condominium Associations FinCEN

Cozen O'Connor

Corporate Transparency Act Update: New York Cooperatives, Condominiums, and HOAs are Advised to Comply

Cozen O'Connor on

January 1, 2025, is the deadline for all entities (unless exempt) created prior to January 1, 2024, to file reports under the Federal Corporate Transparency Act (CTA), and there are substantial penalties for noncompliance....more

Roetzel & Andress

Countdown to December 31, 2024: Vital Deadlines for Florida Community Associations

Roetzel & Andress on

As season approaches for Southwest Florida, so too do important legal deadlines that all Florida community associations need to be aware of. Here is what you need to know: Corporate Transparency Act (Condos, Cooperatives,...more

Fox Rothschild LLP

What Co-op and Condo Boards Need to Know About the Corporate Transparency Act

Fox Rothschild LLP on

As the year-end deadline for compliance with the Corporate Transparency Act approaches, boards of cooperatives, condominiums and Homeowners Associations should be aware of the requirements that may affect them. The CTA...more

Stark & Stark

Corporate Transparency Act (CTA): Action Required for Community Associations

Stark & Stark on

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

Foodman CPAs & Advisors

HOAs Son Empresas Reportantes Según El CTA

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

Foodman CPAs & Advisors

HOAs Are Reporting Companies Under The CTA

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

Steptoe & Johnson PLLC

Homeowner Associations, Condominiums, and the Corporate Transparency Act

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

Shumaker, Loop & Kendrick, LLP

Client Alert: The Corporate Transparency Act Imposes Reporting Requirements Applicable to Many Condominium, Cooperative, and...

The Federal Corporate Transparency Act (CTA), which took effect January 1, 2024, requires most homeowners, condominium, and other community associations to report information relating to the association and its directors and...more

Saul Ewing LLP

Corporate Transparency Act: What Community Associations Must Know

Saul Ewing LLP on

The federal Corporate Transparency Act (“CTA”) requires that corporations submit a report to the Financial Crimes Enforcement Network (“FinCEN”) before January 1, 2025, with information on the persons who exercise substantial...more

Levenfeld Pearlstein, LLC

Corporate Transparency Act Reporting Requirements: What Do Illinois Community Associations Need to Know?

In 2021, Congress enacted the Corporate Transparency Act (“CTA”) in an effort to protect the U.S. financial system from illicit use. Generally speaking, the CTA requires business entities operating in the U.S. to report...more

Stark & Stark

Community Association Reporting Requirements Under the Corporate Transparency Act

Stark & Stark on

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

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