Definition
A federal law that can require HOAs, as corporations, to report information about the individuals who control them.
The Corporate Transparency Act (CTA) is a federal anti-money-laundering law requiring many corporations — potentially including HOAs — to report Beneficial Ownership Information (BOI) about the individuals who own or control them to FinCEN.
Applicability and deadlines for HOAs have shifted with litigation and rulemaking, so boards should confirm current requirements rather than assume. Where it applies, filing is administrative but has real penalties for noncompliance. Treat this as general information and verify the latest guidance.