As an HOA board member, staying informed about the latest legal regulations is a must for the smooth operation and compliance of your community. That's why RealManage is excited to invite you to our upcoming webinar, specifically tailored for board members, on the Corporate Transparency Act (CTA).
What Is the Corporate Transparency Act?
The Corporate Transparency Act, enacted as part of the Anti-Money Laundering Act of 2020, is a significant new law that aims to combat financial crimes by increasing transparency within corporations, LLCs, and other similar entities.
Under this act, many organizations, including community associations, are required to disclose specific beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This disclosure includes details about individuals who own or control the entity, providing a clear picture of ownership to prevent illegal activities like money laundering and tax evasion.
While the CTA is designed to target larger financial crimes, its implications for HOAs are far-reaching. Understanding these implications is essential for board members to maintain compliance and avoid potential penalties.
Why Should You Attend This Webinar?
Navigating (and understanding) new legal requirements can be challenging, especially when the stakes are high. Our webinar on the Corporate Transparency Act is designed to provide board members with the knowledge and tools you need to confidently manage your responsibilities under the new law. Here's what you can expect from the session:
- Comprehensive Overview: Our experts will break down the key components of the CTA, explaining its purpose, the requirements it imposes, and the timelines for compliance.
- Specific Implications for HOAs: The webinar will focus on how the CTA affects community associations. You'll learn which associations are required to report, what information must be disclosed, and the potential consequences of non-compliance.
- Practical Guidance: We’ll provide practical steps your board can take to prepare for the new reporting requirements .At RealManage, we're dedicated to ensuring a smooth and efficient filing process for our clients. Let us handle the BOI filing for your Association, offering a cost-effective solution that's more budget-friendly than hiring an attorney.
- Ask Questions: We will have a section where you can submit your questions, and we will do our best to answer them live. However, we will also take note of all questions and provide additional information to all registrants afterward.
How to Register
Registering for the webinar is simple. Just visit our webinar registration page and fill out the form with your detail. The webinar is scheduled for 6pm CT on August 22, and participation is completely free for all RealManage clients.
Don't Miss Out on This Important Opportunity!
The Corporate Transparency Act is much more than just another regulation—it's a critical component of modern governance for entities like community associations. Moreover, serious penalties could be imposed for non-compliance, such as significant fines and even imprisonment.
Therefore, ensuring your board is compliant with this new legislation not only protects your community from legal repercussions, but also upholds the integrity and trustworthiness of your organization.
Be sure to join us for this informative webinar and gain the knowledge you need to keep your association on the right side of the law. We look forward to seeing you there!
