Corporate Transparency Act: A Guide for HOA Board Members

/ Owner - October 26, 2024

The Corporate Transparency Act is a federal measure aimed at increasing transparency to prevent financial crimes such as money laundering and tax evasion. It requires community associations, including HOAs and Condo associations, to report beneficial ownership (community voting interest) information to the Financial Crimes Enforcement Network (FinCEN). This information includes legal names, addresses, dates of birth, and ID numbers of individuals who serve on the board of directors.   Read the article…………………………….

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