The Corporate Transparency Act (“CTA”) will require most homeowner associations (“HOAs”) to file a beneficial ownership report in the coming year. Although the CTA exempts certain non-profit entities from having to file, most HOAs will not satisfy the requirements to be exempt from the CTA. Raising awareness of this new legal requirement, and collecting the information required for the report, will pose a challenge for many HOAs in the coming year. This Client Alert identifies the issues facing HOAs when addressing the CTA and the preparation of a first beneficial ownership report.
To read the full client alert, please click here.