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Corporate Transparency Act: The Dizzying Back and Forth Continues, CTA Reporting Voluntary (For Now)

As of December 27, 2024, the Corporate Transparency Act's enforcement is paused due to a Fifth Circuit injunction, delaying BOI reports for community associations. The court will review constitutional challenges in March 2025. Associations may choose to submit reports voluntarily while waiting for a final ruling from the Supreme Court.

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Year-End Accounting Tips to Leverage Opportunities for Community Associations

As the year ends, homeowner and condominium associations must assess their financial status, focusing on reserve accounts. With current interest rates at 4.0%-4.25%, associations can enhance returns by investing in certificates of deposit. Evaluating reserve fund adequacy, transferring excess cash, and conducting reserve studies are key strategies for financial health

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Corporate Transparency Act: New Appeal Ruling Requires Compliance by January 13th

On December 23, 2024, the 5th U.S. Circuit Court of Appeals issued a ruling that lifted a nationwide injunction that had previously blocked enforcement of the Corporate Transparency Act (CTA), allowing the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) to resume implementation and enforcement of the law with a

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Mollie Moore, CMCA, AMS elected to the CAI Ohio Valley Chapter Board of Directors

Mollie Moore, CMCA, AMS, will bring more than a decade of experience in community association management to her new role on the board of directors for the Community Association Institute’s Ohio Valley Chapter. As a member of the board, Mollie will provide oversight to chapter functions and leverage her experience

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Important Corporate Transparency Act Ruling Handed Down by Federal Judge

On December 3, 2024, a Texas court issued a nationwide injunction against the enforcement of the Corporate Transparency Act, blocking its beneficial ownership reporting requirements. The Community Associations Institute argues the act burdens community associations and seeks a repeal or exemption. Further litigation is expected as the case progresses.

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Welcoming our New Team Members and Communities – December 2024

Eclipse welcomes two new team members this month, Karin Pike and Sara Fields, with 18 and 14 years of experience respectively. Karin specializes in team leadership and project management, while Sara has expertise in community support and technology processes. Additionally, five new communities are joining Eclipse in December.

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