Reporting companies (which includes community associations) are not currently required to file their beneficial ownership information with FinCEN and will not be subject to liability if they fail to do so.
From the attorneys at SwedelsonGottlieb
We recently sent out an alert on the Corporate Transparency Act being blocked by a Judge from the Texas Federal Court. Specifically, Judge Mazzant of the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against the Corporate Transparency Act (CTA), effectively halting its enforcement nationwide. At that point we were unsure as to what this actually meant for California community associations. We now have more information and good news.