Keystone Owners Association - CTA Reporting Requirements

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<blockquote>Thaison Do - Key Condo HOA wrote:

There are still pending lawsuits, but none are likely to be settled before the December 31st deadline to file the BOI report.&nbsp; To file, I saw a lot of comments about sending questionnaires and collecting information.&nbsp; I personally am opposed to collecting people's private personal info just to have it saved in folder or just lying around somewhere.&nbsp; I would recommend instead of collecting any private information, regardless of how innocuous it might be, to have identify anyone you consider a "beneficial owner" (most likely the members of the HOA board, unless you have any one owner who owns at least 25% of your units) and have them file for and individual FinCEN ID.&nbsp;

<A href="https://fincenid.fincen.gov/landing">https://fincenid.fincen.gov/landing</A>

It only takes a few minutes, and the only info required is:

-Full legal name

-Residential Address

-Date of Birth

-Photo or scan of a government issued ID

The individual does it themselves, so no private info is being sent back and forth or otherwise left somewhere to be seen by someone not authorized to see it.&nbsp; When you file your BOI, you just provide the 12-digit FinCEN ID of all your "beneficial owners" instead of providing any private info that they haven't already provided to FinCEN themselves.

Thaison
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