Wozig’s Streamlined Approach to FinCEN Compliance for HOA Board Members

With new FinCEN Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA), HOAs may need to submit information about board members to meet compliance standards. Wozig is stepping in to simplify this process for HOAs at no additional cost. Here’s how:

1. Minimizing Hassle with FinCEN IDs

Instead of requiring sensitive ID documents, Wozig will guide board members in obtaining a secure FinCEN ID, reducing the need to handle or store physical ID cards.

2. Effortless In-House Filing

Once board members have their FinCEN ID, Wozig will manage the actual BOI filings on behalf of the HOA. This removes the burden of paperwork, allowing board members to focus on their HOA roles without the worry of filing compliance documents themselves.

3. Enhanced Security & Privacy

By asking for the FinCEN ID only, Wozig ensures sensitive personal details aren’t unnecessarily collected, adding an extra layer of privacy for each board member.

4. Compliance Without Extra Cost

Wozig is handling all BOI requirements in-house, covering costs and providing this service as a complimentary addition to HOA management. This approach benefits both board members and the community without extra financial strain.

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Through these steps, Wozig aims to make FinCEN compliance simple, secure, and stress-free for all HOA board members.