Corporate Transparency Act and Community Associations: Updates and Compliance (IL)

/ Owner - April 23, 2024

On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury issued updated guidance addressing the Corporate Transparency Act (CTA).  The CTA directs FinCEN to establish a nationwide database of beneficial ownership of certain corporations and other legal entities including condominium, homeowner (HOA) and townhome community associations.    Read the article…………………………….

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