by Dawn Bauman, CAE | Feb 20, 2025 | Advocacy, CAI, Community Associations
Reporting requirements under the Corporate Transparency Act have been reinstated for community associations, which now have until March 21 to file an initial, updated, or correct beneficial ownership information report with the Financial Crimes Enforcement Network.
by Dawn Bauman, CAE | Jan 7, 2025 | CAI, Community Associations
Projections from the Foundation for Community Association Research, an affiliate of Community Associations Institute, estimate 3,000 to 4,000 new condominium communities and homeowners associations will be built in 2025. Community associations — including homeowners associations, condominiums, and housing cooperatives — currently house 77.1 million Americans and comprise 30% to 33% of the U.S. housing market.
by Tom Skiba, Dawn Bauman, CAE | Sep 19, 2024 | Advocacy, CAI, Community Associations
On Sept. 10, CAI filed a lawsuit against the United States Department of Treasury challenging the application of the Corporate Transparency Act. We believe the application of the Corporate Transparency Act to community associations is an overreach and potentially unconstitutional, and we will continue to work to protect the interests of our members and communities nationwide.
by Dawn Bauman, CAE | May 23, 2024 | Advocacy, CAI, Community Associations
Community Associations Institute filed an amicus brief earlier this week in the United States Court of Appeals for the 11th Circuit challenging the constitutionality of the Corporate Transparency Act. Enacted by Congress in 2021, the act requires businesses, including community associations, to register with the Treasury Department’s Financial Crimes Enforcement Network. CAI supports the act’s intent to bolster transparency and counter money laundering and terrorist financing efforts but believes it should not apply to community associations.
by Dawn Bauman, CAE | Jan 23, 2024 | CAI, Community Associations
Since the 1970s, community associations have been a popular housing choice for people around the world—and the number of new condominium communities and homeowners associations is expected to increase by more than 3,000 in 2024, according to projections by the Foundation for Community Association Research, an affiliate organization of Community Associations Institute (CAI).