As the new Corporate Transparency Act has taken effect, many homeowners associations ask: who is exempt from BOI reporting? Is the HOA exempt from BOI reporting because it is a non-profit organization? What are the requirements for exemption? Let’s find out. The...
Legal compliance is an important part of HOA governance. However, it can be challenging—especially when a new law is passed and no one in the community has any experience with it. That is the case with the newly passed Corporate Transparency Act. What are the BOI...
Homeowners associations should understand the requirements of the HOA BOI report. Under the Corporate Transparency Act, certain companies must file a report with FinCEN that includes specific information. What is a HOA BOI Report? A HOA BOI report is a Beneficial...
Homeowners associations must familiarize themselves with the BOI reporting rule. This rule was enacted on January 1, 2024, and places certain requirements on qualifying HOAs. Compliance is mandatory unless the HOA falls under one of the exemptions. What is the BOI...
What is beneficial ownership? To homeowners associations, this is an important question to answer, especially with the new requirements under the Corporate Transparency Act. What is Beneficial Ownership? What does beneficial ownership mean? Beneficial ownership refers...
