The Unintended Consequences of the Corporate Transparency Act for HOAs
What's Inside the eBook
The CTA and HOAs
The Corporate Transparency Act (CTA) took effect to stem money laundering and illegal funding of terrorist organizations. An unforeseen side effect of the CTA is its effect on small businesses that unintentionally meet the criteria for submitting BOI reports, such as HOAs across the country.
What are the penalties for non-compliance?
Punishments can be both criminal and civil. There are strict penalties for organizations that fail to comply, provide false information, or delay the submission of a BOI report.
Community Association Insurance
Keeping up with BOI report requirements is a significant challenge for associations. As the regulations on the CTA continue to evolve, McGowan is dedicated to keeping your HOA members informed.
