Good news for Colorado common interest communities! On August 11, 2026, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued its Final Rule regarding the Corporate Transparency Act (“CTA”). This Final Rule makes the earlier Interim Final Rule permanent.
FinCEN had previously issued an interim final rule that temporarily paused the requirement for community association directors and officers to report certain personal information. The information that was originally required to be collected by FinCEN included names, birthdates, addresses, and other personal identifying information (“PII”). This Interim Final Rule, along with several lawsuits, helped influence FinCEN to issue a permanent Final Rule, thus making the pause on reporting permanent.
Under the Final Rule, community associations are exempt from reporting beneficial ownership information (such as PII) to FinCEN, and individuals who previously submitted PII to FinCEN are not required to update or correct that information now or moving forward. FinCEN has also announced that it will be establishing processes to delete PII that was previously submitted.
It is important to note that the CTA remains in existence and has not been repealed by Congress. For Congress to repeal the CTA, it would need to pass additional legislation.
For Colorado common interest communities, the issuance of this Final Rule provides relief from previously mandatory reporting requirements and any concerns associated with the original reporting mandates to FinCEN.
