Obtaining a FinCEN Identifier and Filing BOI Reports for CTA Compliance: Step-by-Step Guides for Community Associations

IMPORTANT UPDATE: on 12/26/24, CTA compliance deadlines were paused yet again by the Fifth Circuit Court of Appeals while it considers the government’s appeal of the nationwide injunction. So, for now, covered entities are not obligated to file BOI Reports with FinCen but remain free to voluntarily do so.

IMPORTANT UPDATE: on 12/23/24, CTA compliance deadlines were reinstated by the Fifth Circuit Court of Appeals, and FinCEN announced that the initial BOI Reporting deadline is extended to 1/13/25 (with some exceptions based on when an entity was formed).

As part of our continuing efforts to educate community associations on complying with the federal Corporate Transparency Act (“CTA”), we are pleased to offer additional informational resources – specifically, step-by-step guides for: (1) beneficial owners and company applicants to obtain their own FinCEN Identifiers, which can then be provided to the person or company that is completing and filing their association’s Beneficial Owner Information (BOI) Report; and (2) filing the association’s initial BOI Report.  We also previously posted CTA FAQs for community associations.

-  Click HERE for our “How to Guide” for obtaining a FinCEN Identifier.

-  Click HERE for our “How to Guide” for filing the initial BOI Report (for community associations incorporated/created prior to January 1, 2024).

-  Click HERE for our “How to Guide” for filing the initial BOI Report (for community associations incorporated/created on or after January 1, 2024).

-  Click HERE for our “Frequently Asked Questions” document regarding compliance with the CTA by Virginia and D.C. community associations (homeowners’ associations and condominium unit owners’ associations).