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.
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.
