Community association board members no longer must report personal information to the federal government under the Corporate Transparency Act. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued a final rule Aug. 11 permanently removing beneficial ownership information reporting requirements for U.S. companies and individuals.
We’re asking all CAI members; board members, community managers, business partners, homeowners, and neighbors to take CAI’s Civility Pledge.
CAI recognizes maintaining the physical and financial health of community associations is essential.
Reporting requirements are now reinstated for applicable community associations.
Corporate Transparency Act Update: Reporting companies are not currently required to file beneficial ownership information.
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