Homeowners Associations (HOAs) Now Required to File an Annual Public Notice – Initial Notice is due January 13, 2023
LuAnn Peterson, SBWCP | 01.11.23
In March 2022 the Wisconsin Legislature passed 2021 Wisconsin Act 199. Act 199 adopted new rules, one of which is that HOAs under Wis. Stat. § 710.18 are now required to file public notice with the Wisconsin Department of Financial Institutions (DFI). Initial public notices are due January 13, 2023 and are to be updated annually. The notices are NOT required for condominiums.
If the HOA fails to file a required notice, then the HOA is precluded from charging late fees or other fines for unpaid assessments owed by a residential lot owner, as well as any fees in connection with a transfer of ownership of a residential lot until the required notice has been filed.
Notice requirements include:
- Name of Association
- Mailing Address of Association
- Website of Association (If Applicable)
- Contact Name on Behalf of Association (NOTICE — This information will be published on the DFI public website for Homeowners’ Associations)
- Contact Address
- Contact Email
- Contact Phone Number
- Name of Management Company (If Applicable)
- Mailing Address of Management Company (If Applicable)
- County and Municipality of Planned Community
- Payment to WDFI: Payment can be made with a credit card. Filing Fee is $25.00
You can file Form 4002 here. Instructions about completing the form can be found here.
DISCLAIMER: The information provided is for general informational purposes only. This post is not updated to account for changes in the law and should not be considered tax or legal advice. This article is not intended to create an attorney-client relationship. You should consult with legal and/or financial advisors for legal and tax advice tailored to your specific circumstances.