Conversations surrounding the Corporate Transparency Act continue in Washington D.C. Last year, the U.S. Treasury Department issued an interim final rule pausing the Corporate Transparency Act’s reporting requirements. However, the act still remains law. 

H.R. 425 was introduced by Ohio Rep. Warren Davidson last year. This important bill proposes to repeal the CTA in its entirety. While the CTA remains law, the risk of enforcement still exists. H.R. 425 would put a definitive end to the act and its potential threats to community associations. 

CAI is thrilled to report that this bill was amended and approved by the House Financial Services Committee on April 21, 2026. The positive amendment adopted will not only have this bill fully repeal the CTA, but will also require FinCEN to delete data from BOI filings for Americans and entities that are not reporting companies within 90 days of the bill's adoption.

This bill will now be sent to the floor of the House of Representatives for consideration. We need you to continue to contact to your Representative using this webpage to urge them to support H.R. 425 and to protect community association board members in private data and information in your state. 

Learn more about the CTA and CAI’s ongoing multipronged approach to seek an exemption for community associations at www.caionline.org/CTA.

If you have any questions about the CTA, please contact CAI’s Government & Public Affairs team at government@caionline.org.