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HOA Annual Board Organization Checklist

HOA Annual Board Organization Checklist

Run this checklist at the start of the year to ensure you are well-organized for the year ahead.
1
Introduction:
2
Enter basic details
3
Enter CPA details
4
Annual audit:
5
Gather all financial statements
6
Send statements to a CPA
7
Grant CPA access to HOA records
8
Complete annual audit
9
Approval: Audit successfully completed
10
Copy and file audit documents
11
Taxation:
12
Consult a legal expert for guidance
13
Consider consolidating HOA common area tax parcels
14
File tax return form 1120-H
15
Approval: Taxes filed correctly
16
Insurance requirements:
17
Review your governing documents
18
Ensure the HOA has enough coverage
19
Approval: Insurance requirements met
20
Annual report:
21
Create an annual report
22
Review annual report
23
Approval: Annual report completed
24
Copy and store the report (physical & digital)
25
Share the report with the community
26
Final steps:
27
Ensure your meeting minutes are accessible
28
Confirm date of next board meeting
29
Sources:
30
Related checklists: