HOA Registration

Started by GrantK • 12 replies • 3111 views

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GrantK (California)
Posts: 8

Posted:

Let me start by saying that am new to this forum and new to the business of HOA.
I bought a unit in a 4-unit building in June 2006. There was a management company that was managing the building. Ii one of our meeting we decided that since there are only four units in our building we don’t need a paid company to manage our properties and that we can do it by ourselves. We need to register our HOA to open an account in the bank. I am asking for your help in explaining on how to do it. Thanks to all of you.

GrantK (California)
Posts: 8

Posted:

As I understand nobody knows how to start an association, and how to register it with the government.
Thanks a lot.

RogerB (Colorado)
Posts: 5,067

Posted:

Grant, perhaps if none of your members even know how to open an HOA bank account a manager is needed

Opening accounts not difficult:
1. Determine which bank your HOA wants to use and type accounts desired - checking and investment. Factors to consider include convenience and interest rate paid on investment of reserve funds.
2. Contact bank to see what documents are required. You may need to provide minutes of the meeting where officers were elected.
3. Get signature cards completed as per requirements of the bank.
4. Return signature cards and open account(s) by depositing monies.
5. Obtain checks, deposit slips, etc.

GrantK (California)
Posts: 8

Posted:

Thanks Roger.
We contacted several banks. Among all other documents, they require some sort of verification that our HOA is an official organization registered with the government. So, my question was not how to open a bank account, but how to officially register our HOA.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Grant,
You will need to form a "Not For Profit" corporation with the State of California. There will be need for Protective Covenants, Articles of Incorporation and ByLaws that will also have to be filed in the County of residence for the community. Then you will need to set up your Board of Directors and then you are good to go.
It sounds like alot of work but perhaps you have some of those documents from the developer? I hope so. Let us know where you are as for documents.

GrantK (California)
Posts: 8

Posted:

Donna, I have none of these documents. The building was built in 1991 and none of us know who the builders are.
Is it absolutely necessary for the HOA to be a corporation or can we register it as some other non-profit organization? As I said before, there are only four townhouses in the building and it is very easy to manage it.
Thanks a lot.

GrantK (California)
Posts: 8

Posted:

I just checked the webpage of secretary of state in California and found this record.

Corp Number Date Filed Status Corporation Name Agent for Service of Process
C1709979 7/21/1992 suspended 3312 HONOLULU HOMEOWNERS ASSOCIATION HARMIK TATEVOSSIAN

Can I use this information somehow?

GloriaM (North Carolina)
Posts: 829

Posted:

Grant:

Check with the SOS first and see if the building was ever registered as an HOA or Condo/townhome Association. Just because you don't have any documents, doesn't mean there aren't any. If in 1991 the developer/builder did it right, they would have gotton a Tax ID#, filed Articles of Incorporation and filed your CCR's for the corporation.

If you pursue the above first and find you are correct there are none, they you would have to do the above, file for a Tax ID#, file Articles of Incorporation and file CCR's for the HOA.

GrantK (California)
Posts: 8

Posted:

As I stated in my previous message, all the records on SOS webpage indicate that the corporation was registered but suspended in 1992. Where do I go from there?

RogerB (Colorado)
Posts: 5,067

Posted:

Grant, since your HOA was incorporated contact the SOS office to determine how to renew your HOA's corporate status.

To opening an interest bearing bank account the bank will need your federal tax number. If you do not have that information call the IRS to get that number (probably already registered since your HOA was previously incorporated).

GrantK (California)
Posts: 8

Posted:

Thanks Roger!
I will try to get this information from SOS.

DaneC (California)
Posts: 210

Posted:

In CA, an Association has 3 obligations to the State -
1) Statement of Information – Domestic Nonprofit Corporation
http://www.ss.ca.gov/business/corp/pdf/so/corp_so100.pdf

It appears that the last statement was filed 5/26/1993 - use the website
https://businessfilings.sos.ca.gov/ and enter your Corporation number C1709979.

2) Statement by Common Interest Development Association
http://www.ss.ca.gov/business/corp/pdf/so/corpua_cid.pdf

From the looks of that webpage, this statement has not been filed - if it were, the page would have an additional line at the bottom in red, reading -
This corporation is a Common Interest Development (CID). Statement of Information for CID can only be filed via mail at this time.

3) Tax Returns - the following publications should be of some assistance -

Guidelines for Homeowners Associations
http://www.ftb.ca.gov/forms/misc/1028.pdf

Exempt Organizations – Non profit doesn’t mean tax-exempt.
http://www.ftb.ca.gov/forms/misc/927.pdf

Contact me if you need help.

GrantK (California)
Posts: 8

Posted:

Thanks a lot Dane.
The information was very usefull. I will contact you if I need additional help.

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