Up to $250,000 in fines and 2 years in jail are the potential penalties for an HOA board member who willfully does not comply with new federal reporting requirements. In the above interview, Ronald J. Barba, an attorney with Bender, Anderson, and Barba, P.C., provides background on FinCEN (Financial Crime Enforcement Network) and what it means for homeowners associations (HOAs) and their respective boards.
Time's ticking as HOAs and their Beneficial Ownership Interests (board members) must file by the end of the year. That may sound like a long time, but an HOA's bylaws may represent a sticking point.
31 май 2024
