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Corporate Transparency Act: Supreme Court reaches key decision, resuming enforcement

The U.S. Supreme Court has reinstated the enforcement of the Corporate Transparency Act (CTA), allowing its implementation after lifting a nationwide injunction. This landmark decision requires community association board members to register personal information with FinCEN. Ongoing legal challenges remain unresolved in this rapidly evolving situation.

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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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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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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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Corporate Transparency Act: Key Ruling Issued

In September, the CAI sued the U.S. Treasury to exempt community associations from the Corporate Transparency Act's reporting requirements. Despite the lawsuit, a court denied an injunction, necessitating compliance by January 1, 2025, or face penalties. CAI continues advocacy efforts amidst challenges, urging associations to prepare for reporting requirements.

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Corporate Transparency Act: An Overview

The Corporate Transparency Act (CTA) continues to be an area of focus for community associations as we move closer to the first of the year filing deadlines. Community Associations Institute has filed a lawsuit seeking to exempt HOAs and condominium associations from the law. Learn more at our website dedicated

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