Many of our clients have been following CAI’s lawsuit regarding the Corporate Transparency Act’s applicability to HOA clients, Community Associations Institute v. U.S. Department of Treasury, very closely. CAI sought a preliminary injunction, which would postpone the deadline for community associations to file beneficial ownership information reports until the case could be fully heard by the court. That preliminary injunction was denied today, which means that community associations that are not subject to the CTA’s exemptions (e.g., 20+ employees and revenue in excess of $5,000,000 per year) will be required to register no later than January 1, 2025.
