The Corporate Transparency Act (CTA) went into effect January 1, 2024 with a compliance deadline set for January 1, 2025. This new law mandates that certain businesses disclose ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The primary goals of the CTA are to increase business transparency and accountability … Read More ›

What is the Federal Corporate Transparency Act (CTA) and How Does it Impact Board Members?

The Federal Corporate Transparency Act (CTA) is a significant piece of federal legislation that went into effect January 1, 2024. This law mandates that certain businesses disclose ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). … Read More ›

“Countdown to the Corporate Transparency Act“ –  KSN attorney Kerry Bartell discusses the Federal Corporate Transparency Act and its impact to community associations including legal requirements, board member responsibilities, deadlines, and penalties for non-compliance. (13 mins.)

The KSN Podcast examines various aspects of association law, landlord/tenant issues, property tax appeals, and more.

In each episode, KSN … Read More ›

On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury issued updated guidance addressing the Corporate Transparency Act (CTA).

The CTA directs FinCEN to establish a nationwide database of beneficial ownership of certain corporations and other legal entities including condominium, homeowner (HOA) and townhome community associations. According to FinCen, the term “reporting … Read More ›