Condo Law Watch

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Illinois Corporate Transparency Act

Corporate Transparency Act: All Associations Must File Report with FinCEN by 12/31/24!

The Corporate Transparency Act (“CTA”) is here to stay, and for now, condominiums, townhomes, homeowners and community associations must file the required Beneficial Ownership Information Report (BOIR) by December 31, 2024. Failure to comply will result in penalties imposed by… Continue Reading →

Quick Update on the Corporate Transparency Act: Do Condos and HOAs Have to Comply?

While independent parties continue to challenge the application of the CTA to condominium and homeowner associations, it still appears to apply. We recommend that associations hold off on its reporting requirements as we continue to obtain further clarity on the CTA… Continue Reading →

Update to the Illinois Corporate Transparency Act: Do Condos and HOAs Have to Comply?

As previously reported, new reporting requirements under the Corporate Transparency Act (“CTA”) went into effect in January 2024. These changes require certain corporate entities (including condominium and homeowner associations) to provide personal details of the individuals who exercise control over… Continue Reading →

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