Corporate Transparency Act: Sweeping federal law requires community compliance

Corporate Transparency Act: Sweeping federal law requires community compliance

Community associations must take seriously new mandatory filing requirements under the Corporate Transparency Act, legal experts advise. Existing community associations must comply with the law’s reporting requirements by Jan. 1, 2025. New community associations have 30 days after incorporation to file. Information also must be updated following changes in governance such as the election of directors.

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