Court Temporarily Blocks – CORPORATE TRANSPARENCY ACT

/ Owner - December 5, 2024

A federal court has issued a nationwide injunction temporarily blocking the enforcement of the Corporate Transparency Act (CTA), originally set to take effect on January 1, 2025.  The CTA mandates condominium and HOA board members to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN). However, this recent ruling from a Texas court, issued on December 3, 2024, halts the U.S. Department of Treasury from enforcing the BOI reporting requirements for legal entities, including corporations, LLCs, and associations.     Read the article…………………………….

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