The Corporate Transparency Act mandates that business owners submit key ownership information to the Treasury Department by December 31, 2024. Failure to comply may result in fines of up to $10,000. New York cooperatives, condominiums, and homeowners' associations (HOAs) are specifically advised to adhere to these requirements. Additionally, the Financial Crimes Enforcement Network (FinCEN) has announced relief plans for qualified victims impacted by recent hurricanes, extending deadlines for beneficial ownership information reporting for these individuals. The urgency of compliance is emphasized as the deadline approaches.