An important update to our developers about the Corporate Transparency Act reporting requirements for your project's HOAs and development entities: 

A federal court put an injunction on compliance with the Corporate Transparency Act on Tuesday this week.  Here's a link to information about the ruling: https://www.jdsupra.com/legalnews/injunction-halts-enforcement-of-8571040/ 

This preliminary injunction applies nationwide, halting enforcement and compliance of the Act’s beneficial ownership reporting requirements across the entire United States. This means that your project does not need to have a BOI report filed by the previous deadline of January 1, 2025 (or by 90 days after incorporation for new 2024 business registrations). 

The Community Association Institute(of which MicroHOA is a member) legal team believes the injunction applies to all community associations incorporated within the U.S.  

Further legal process is expected, but for now it  is not necessary to complete the filing if you would like to wait for legal resolution.  If you have already done so, or if you have obtained FinCen IDs for MicroHOA to file your BOI report, you have taken the responsible steps that were asked of you.  If compliance requirements are reinstated or modified, we will let you know in time to meet new deadlines.   

If you would like to file regardless of the injunction, we can help, or provide you the instructions on how to do it yourself.