FINCEN REPORTING DEADLINE – DECEMBER 31, 2024*
This information pertains to all Florida Condominium and Homeowners’ Associations.
Due to the implementation of the Corporate Transparency Act, Florida associations are required to provide certain information and reporting regarding the directors serving on the association’s board because the directors are considered to be “Beneficial Owners” under the Act. The deadline to provide this information to the government is December 31, 2024. This requirement is often referred to as “FINCEN” reporting.
The Community Associations Institute filed suit seeking to invalidate and stay the enforcement of these requirements as applied to community associations. However, the CAI motion for preliminary injunction was denied. Although it is still possible that the rule will be amended by subsequent legislation or found to be invalid after a full briefing on the matter, Florida associationsmust now plan to comply before the December 31, 2024, deadline, given the severe penalties that could be enforced for a violation.
Ansbacher Law now recommends that all its clients take immediate steps to comply with the FINCEN reporting regulations. Our firm offers this service, as do other companies. In general, the directors of each association will need to provide a copy or digital image of their government-issued ID, such as their passport or driver’s license, and residential address to the federal government.
If you would like our firm’s assistance with the FINCEN reporting requirements, please contact our firm immediately.
Requests Made to Ansbacher Law At Least 45 Days* Prior To Filing Deadline:
These requests will be handled by our corporate department at a rate of $500 per board (up to 5 directors), plus an additional $150/director for each additional director after the first 5 directors. There is no discount for having less than 5 board members. To request this service, please email company@ansbacher.net, or call 904.737.4600 extension 120.
Requests Made to Ansbacher Law Less Than 45 Days* Prior to Filing Deadline:
These requests will be handled by our community association team on an expedited basis. Our firm’s standard hourly rates plus all costs will be charged to the association. Please contact ca@ansbacher.net.
For Clients Who Have Engaged Ansbacher Law for FinCEN/BOI Filing:
A link to the required information form is HERE. A secure link to upload digital images of required identification will be sent to your designated association contact. To follow up on requests please email company@ansbacher.net, or call 904.737.4600 extension 120.
For more information about the act:
- CAI – How the Corporate Transparency Act Applies to Community Associations
- FINCEN – Official Government Website
- *October 29, 2024 Update. The filing deadline for associations governing communities affected by Hurricane Milton is extended an additional 6 months until July 1, 2024.
FEMA List of Florida Counties Affected by Hurricane Milton:
Affected areas include communities in the following Florida Counties:
Brevard | Charlotte | Citrus | Clay | Collier | DeSoto | Duval | Flagler | Glades | Hardee | Hendry | Hernando | Highlands | Hillsborough | Indian River | Lake | Lee | Manatee | Marion | Martin | Miccosukee Indian Reservation |Okeechobee | Orange | Osceola | Palm Beach | Pasco | Pinellas | Polk | Putnam | Sarasota | Seminole | St. Johns | St. Lucie | Sumter | Volusia
