The Corporate Transparency Act


&Homeowners I


Associations By Christos Argiannis, Esq. of Brandt Law Group


n December 2020, Congress passed the Corporate Transparency Act (“CTA”), which aims to prevent and combat money


 other similar activities. This goal will be achieved  owner report to the Financial Crimes Enforcement    will analyze CTA’s application to homeowner associations and the procedures that must be complied with if CTA does apply.


OCTA’s Application to


Homeowner Associations     owner report on an annual basis, starting with an initial 


16 Community Associations Journal | February 2024


 reporting company that is a (A) corporation, (B) limited   of a State or Indian tribe. Since Washington homeowner    party.”1


Homeowners associations, corporations, 


 (23) different exemptions for corporations that will not be designated as reporting parties. These exemptions apply to banks, credit unions, investment companies, government 


1 There are a few rare instances where a community association has a tax-exempt ( IRS 501c4) determination which would qualify for an exemption. This is rare and the tax-exempt determination must apply to the entire community association.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32