Ott & Associates

Corporate Transparency Act (CTA) Update

Corporate Transparency Act (“CTA”) took effect on January 1, 2024, and it requires most legally formed entities (Corporations, LLCs, etc.), including incorporated Associations, to file with the federal government what is known as a Beneficial Ownership Information Report (“BOI Report”). The filing deadline for Associations formed prior to 2024 is December 31, 2024, while the filing deadline for Associations formed in 2024 is 90 days from the date of formation. On an ongoing basis, if previously reported information changes, an entirely new report must be filed within 30 days of the change occurring.

Corporate Transparency Act (CTA)

Stay Tuned:

Although there are many more details to come, our office is continuing to monitor the legislation for updates. Hopefully the efforts currently being made to exclude community associations from the requirements of the CTA will be successful.

If you have any questions or concerns with regard to the Corporate Transparency Act, please do not hesitate to contact our office.

COVID-19

Effective Monday, March 23, 2020, at 11:59pm, the Director of the Ohio Dept. of Health issued a "Stay at Home Order".