CACM CHAT - HOA LIFE

The deadline to comply with the Corporate Transparency Act is quickly approaching (December 31, 2024). What does that mean for homeowners’ associations, which are included in the BOI reporting requirements of the act? Which communities are exempt? What must beneficial owners file with the Department of Treasury and what are the penalties for non-compliance? Dawn Bauman, Senior Vice President of Government and Public Affairs for the Community Associations Institute and Executive Director of the Foundation for Community Association Research, provides an update on the legislation and CAI’s lawsuit to exempt community associations. While CAI continues to work with the Federal Government to repeal or delay the act, Bauman advises HOAs and boards to be prepared to comply by January 1.

Episode Resources:
https://caionline.org/cta
https://cacm.org/resources/corporate-transparency-act/

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What is CACM CHAT - HOA LIFE?

CACM Chat – HOA Life where no HOA topic is off the table. We’ll bring you stories, trends, legislative matters and best practices in HOA management straight from the day-to-day professionals who work in the California community association management industry and the expert Industry Partners that serve HOAs. CACM was founded in 1991 to elevate professionalism in community management through California specific education and certification. Rapidly changing laws, new advanced technology, and an ever-evolving workforce. Geared toward the community association management industry. Tune in every week and make sure to follow us on our social channels @cacmchat. Hosted by industry veteran, @TomFreeley, CEO of the California Association of Community Managers.