Indiana Reserve Study Requirements (2026)

Indiana at a glance

Who must have a reserve study

We found no reserve study requirement in Indiana's condominium law (IC 32-25) or homeowners association law (IC 32-25.5). (see sources)

Site inspection

We found no statewide rule on this in the statutes listed under Sources.

Structural inspections

We found no statewide rule on this in the statutes listed under Sources.

Reserve funding

Condominium assessments must include the establishment and maintenance of a replacement reserve fund. The fund may be used for capital expenditures and replacement and repair of common areas, not for usual and ordinary repairs. It must be kept in a separate interest bearing account or invested as the statute allows (IC 32-25-4-4). A homeowners association must prepare an annual budget showing estimated revenues and expenses, but the HOA statute does not mention reserves (IC 32-25.5-3-3). (see sources)

Disclosure

We found no statewide rule on this in the statutes listed under Sources.

Who may prepare the study

We found no statewide rule on this in the statutes listed under Sources.

What this means for boards

• With no statewide mandate confirmed here, check your governing documents and any lender requirements. They can require a study even where the statute does not.
• A current reserve study is still the usual way to show the board planned for major repairs with care.
• Keep the study, the board's funding decision and the reasons for it on record.
• Ask your association's attorney how the rules apply to your community.

What this means for reserve preparers

• Confirm which statute governs the association before you scope the work: condominium, planned community and cooperative acts often differ.
• Match the study level and site visit to what the statute requires.
• Cite the statute in the report so the board can see what the study satisfies.

How ReservePath handles Indiana

ReservePath supports full studies, updates with a site visit and updates without one, 30-year funding projections, and study renewal reminders based on the cycle you set for each study. It includes in-app compliance guidance for each state as a starting point. The preparer and the association's attorney remain responsible for confirming what the law requires.

Frequently asked questions

Does Indiana require a reserve study?

We found no reserve study requirement in Indiana's condominium law (IC 32-25) or homeowners association law (IC 32-25.5).

Does Indiana require reserves to be funded?

Condominium assessments must include the establishment and maintenance of a replacement reserve fund. The fund may be used for capital expenditures and replacement and repair of common areas, not for usual and ordinary repairs. It must be kept in a separate interest bearing account or invested as the statute allows (IC 32-25-4-4). A homeowners association must prepare an annual budget showing estimated revenues and expenses, but the HOA statute does not mention reserves (IC 32-25.5-3-3).

Sources

• IC 32-25-4-4 (Indiana Code 2026, Title 32)
• IC 32-25.5-3-3 (Indiana Code 2026, Title 32)