Recently one of our clients received a solicitation titled “Mandatory Beneficial Ownership Reporting.” It was noted as form 5102 and states that there is a filing fee of $119.00. The form looks very legitimate and like any other tax form you might receive from the federal government. However, beware of these types of solicitations, as the form received is a known scam. It is important to note that there is no governmental fee associated with filing Beneficial Ownership Information (BOI). The Financial Crimes Enforcement Network (FinCEN), the governmental entity where BOI is to be reported, has published the following Alert: … Continue reading
Tag Archives: Condo
SC Foreclosure Bill Passed House, Now in Senate—Potential Impacts on Your HOA
As recently reported in previous articles, the South Carolina Legislature is considering a bill that impacts the ability of community associations to collect assessments from non-paying members of their communities. As originally drafted, the bill would have eliminated a community association’s ability to foreclose. However, the Community Associations Institute (CAI) and its South Carolina Legislative Action Committee (SC-LAC) worked closely with members of the SC House of Representatives to propose an alternative approach to the original bill. As a result, the proposed new law would require an additional hearing in the foreclosure process to ensure that homeowners are given ample … Continue reading