Keystone Owners Association - CTA Reporting Requirements

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<blockquote>Michael Mac - Montezuma wrote:

Our management company, Buffalo Mtn Mgt, Is planning to send out a questionnaire/info gathering email to board members and they will complete/submit the documentation 
 
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The Corporate Transparency Act (CTA) requires reporting companies to file a Beneficial Ownership Information Report (BOI Report) with the Financial Crimes Enforcement Network (FinCEN). The BOI Report must include the following information:

Reporting company

The company's legal name, trade name, and address, as well as its jurisdiction of formation or registration

Beneficial owners

The full legal name, birth date, address, and a unique identifying number for each beneficial owner

Company applicants

The legal name, birth date, and address for each company applicant

Taxpayer identification number

The company's IRS Taxpayer Identification Number (TIN), or a tax identification number from a foreign jurisdiction

Identification document image

An image of the approved document that contains the identifying number for each beneficial owner

Reporting companies must also update their BOI Report within 30 days of any changes, and file an annual report confirming the accuracy of their information.

The CTA's reporting requirements went into effect on January 1, 2024, but businesses formed before that date have until January 1, 2025 to comply.

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