Since the WFF HOA Annual Meeting in February, the board has met 4 times. One of the most important business matters we are dealing with over the summer is CTA Compliance mandated by the Corporate Transparency Act. CTA is a federal law that requires certain companies to file beneficial ownership information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN). The CTA’s goal is to increase transparency in corporate ownership and structures to help fight money laundering. As an HOA, all board members must comply by providing their full legal name, date of birth, address, a passport or driver’s license number, along with a copy of the document verifying the number passport or driver’s license. The board is now deciding on the most effective process to use to comply with the law.
Fall is the time of the year when we ask if you are interested and willing to serve on the board. Our current bylaws state that the board will consist of 3-5 members. If you are interested and are willing to comply with CTA requirements, please contact any current board member.
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