Monthly Archives: September 2024
Obtaining a FinCEN Identifier and Filing BOI Reports for CTA Compliance: Step-by-Step Guides for Community Associations
As part of our continuing efforts to educate community associations on complying with the federal Corporate Transparency Act (“CTA”), we are pleased to offer additional informational resources – specifically, step-by-step guides for: (1) beneficial owners and company applicants to obtain their own FinCEN Identifiers, which can then be provided to the person or company that […]
CAI Lawsuit Filed to Challenge CTA – Includes Two CWMEB Clients
On September 10, 2024, the Community Associations Institute (CAI) filed a lawsuit against the U.S. Department of Treasury challenging the application of the Corporate Transparency Act (CTA) filing requirements as they apply to community associations. The lawsuit was filed in the U.S. District Court for the Eastern District of Virginia (Alexandria division). A Motion for […]
The Corporate Transparency Act (CTA): FAQs for Community Associations
In 2021, Congress adopted the Corporate Transparency Act (“CTA”) as part of the Anti-Money Laundering Act of 2020. This anti-corruption law is intended to make it harder for bad actors to shield their identities and launder ill-gotten gains, which in turn assists national security, intelligence and law enforcement efforts in countering money laundering, tax fraud, […]