CTA Update

On October 24, 2024, the preliminary injunction CAI filed was denied and CTA is still in effect. I have several HOA’s who are refusing to file, while others have already completed their filing.
 
For those who wish to file before the January 1st, 2025, deadline, each member on the board must file for their FinCEN number. This is through Congress, and they do not ask for any financial information. The information they gather is your legal name, your address, your social security, and a photo ID to prove you are who you say you are. Once you have completed that, they will give you your FinCEN number which is used to file the BOI (Beneficial Ownership Information) report.

Once all the board members have their FinCEN number, you only need one board member to file on behalf of the HOA. You will provide your FinCEN number to the designated board member, who will then file. It’s a straightforward process, and I can provide the EIN number for the HOA which you will need to file.
Please download the report once you have completed the filing and I will attach the form to your HOA legal files. I’ve attached links to help navigate this process.

Please note that after each election, if new board members are elected, the HOA will need to file a new BOI with the new board member’s FinCEN number.
 
There are several entities out there who are offering to file on behalf of HOA’s. The fees range from $100.00 to $200.00 per entity depending on the agency. As with the policies, I will offer this service for $65.00 per entity. I will need every board member’s FinCEN to file. Please note that if there are board member changes and another filing is required, it will be a new charge. If you choose to hire Design HOA to file your BOI, please have information submitted to our office by December 12th, 2024.

Thank you.
​
https://www.cohoalaw.com/what-the-courts-say/cta-still-in-play/
https://fincenid.fincen.gov/landing
https://boiefiling.fincen.gov/
https://www.youtube.com/watch?v=GydCvfbKxPw&t=110s