03/13/2024
The Corporate Transparency Act Imposes New Burdens
On Indiana HOAs and Condominium Associations
Effective January 1, 2024, the vast majority of Indiana homeowners associations and condominium associations became subject to the reporting requirements of the Corporate Transparency Act (CTA). Adopted into law by Congress in 2021, the CTA requires Indiana homeowners association and condominium association board members to register with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). Failure to report can result in substantial criminal and civil penalties.
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Effective January 1, 2024, the vast majority of Indiana homeowners associations and condominium associations became subject to the reporting requirements of the Corporate Transparency Act (CTA). Adopted into law by Congress in 2021, the CTA requires Indiana homeowners association and condominium ass