Corporate Transparency Act 2024 And Hoas. As of january 1, 2024, community associations are subject to the corporate transparency act (cta) federal reporting requirements. The corporate transparency act, effective as of january 1, 2024, impacts most associations, including homeowners associations (hoas) and condominium associations.

Congress in 2021 enacted the corporate transparency act, a law designed to help law enforcement and intelligence agencies catch money launderers and international criminals. The corporate transparency act 2024 is a new federal law that indirectly impacts community association board members.