Corporate Transparency Act (CTA) Filing Services
What is the Corporate Transparency Act?
The Corporate Transparency Act (CTA) was enacted in 2021 to combat illegal money movements by requiring specific corporate entities, including HOAs, to disclose key information to the Financial Crimes Enforcement Network (FinCEN). Compliance with this federal regulation is mandatory for many HOAs structured as corporations or LLCs.
Who Needs to File?
- HOAs incorporated as non-profits or LLCs.
- Board members and individuals owning over 25% of units are required to file their information.
Filing Deadlines
- Existing Associations (established before January 1, 2024): File by January 1, 2025.
- New Associations (established on or after January 1, 2024): File within 90 days of formation.
Services We Provide
At Project HOA, we simplify your compliance with the CTA by handling the entire process for you:
- Initial Filing: Prepare and submit the Beneficial Ownership Information (BOI) report to FinCEN.
- Annual Renewals: Monitor and update filings to ensure continuous compliance.
- Data Management: Organize and manage sensitive information securely.
Why Choose Project HOA?
Non-compliance with the CTA can lead to severe penalties, including:
- Fines of up to $10,000.
- Criminal penalties, including imprisonment for up to two years.
With our services, you’ll avoid these risks and ensure accurate, timely filings without the stress. By partnering with us, you’ll save time, reduce liability, and meet federal requirements confidently.
Pricing
- Initial Filing & Unlimited Updates: $195 per year.
- Annual Compliance Renewal: $195 per year.
Contact us today to streamline your compliance with the Corporate Transparency Act. Let us handle the details so you can focus on what matters most—your community!
