The Corporate Transparency Act (CTA) introduces new reporting requirements that many Homeowners Associations (HOAs) must comply with, including disclosing beneficial ownership information. Key Provisions of the Corporate Transparency Act The CTA mandates that certain entities, including many HOAs, report their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network…
Tag: CTA
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New CTA Laws Affect HOAs and Businesses
The legal battles surrounding the Corporate Transparency Act (CTA) continue as the District Court for the Eastern District of Texas has lifted an injunction that previously halted its enforcement. This decision, issued in Smith, et al. v. U.S. Department of the Treasury, et al. (E.D. Tex., Feb. 17, 2025, Case…