The Community Associations Institute Announces its Intent to Legally Challenge the Corporate Transparency Act

The CAI Board of Trustees approved filing a lawsuit to exempt and protect homeowners associations and condominium associations from the burdensome requirements outlined in the Corporate Transparency Act. Tom Skiba, the Chief Executive Officer of the CAI based in Virginia, said the suit challenging the U.S. Department of Treasury’s restrictive obligations underscores CAI’s unwavering commitment to protecting the community association housing model and its members’ interests. CAI firmly believes the CTA’s requirements place an excessive burden on community associations, which operate differently from traditional corporations and small businesses. The lawsuit is expected to be filed this summer. One way you can stay informed is to visit CAI’s dedicated webpage for real-time updates on the lawsuit and related developments. Mr. Skiba said that the CAI will regularly post news and updates to keep members informed on progress in the case at www.caionline.org/CTA

Our law firm and attorneys have been members of the CAI for many years. We encourage the Boards of Directors of our HOA clients to join the CAI, regardless of whether they have a property management company.