Corporate Transparency Act: Impact to Illinois Community Associations

KSN attorneys Omar Malik and Sabina Arutyunyan discuss the Federal Corporate Transparency Act (CTA) and its impact to Illinois community associations. The CTA is a federal law requiring certain corporations, including most community associations, to provide board member information to the U.S. Department of the Treasury.

Topics include legal reporting requirements, board member responsibilities, deadlines, and penalties for non-compliance.