Form 8300: Reporting More Than $10,000 in Cash Received in a Trade or Business

A person engaged in a trade or business generally must report receiving more than $10,000 in cash in one transaction or two or more related transactions. The report is made on Form 8300 under Internal Revenue Code Section 6050I and related Bank Secrecy Act rules.

The Filing Deadline

Form 8300 generally must be filed within 15 days after the cash received first exceeds $10,000. If payments are received over time, the business must track related payments and may have a new filing obligation when later payments cause the total to cross the threshold. Businesses required to e-file information returns generally must e-file Form 8300, subject to current waiver and exemption procedures.

What Counts as Cash

Cash includes U.S. and foreign currency. In designated reporting transactions, certain cashier's checks, bank drafts, traveler's checks, and money orders with face amounts of $10,000 or less may also count. A personal check, wire transfer, credit-card payment, or loan proceeds paid directly by a bank generally are not cash for this form, but the precise payment instrument and transaction type should be confirmed.

Related Transactions and Structuring

Transactions are related when they occur within a 24-hour period or when the business knows or has reason to know they are connected. Breaking a payment into smaller amounts does not avoid reporting when the payments are related. A business should not advise a customer to structure payments to avoid the form, and suspicious behavior may create additional reporting or legal concerns.

Customer Information and Annual Statement

The business generally must obtain identifying information about the person from whom the cash was received and any person on whose behalf the transaction was conducted. A written statement generally must be furnished to each person named on the form by January 31 of the following year. The statement should not casually disclose sensitive information beyond what the law requires.

Records and Penalties

Keep a copy of the form, customer statement, identification reviewed, transaction documents, payment records, and any explanation for incomplete information for at least five years. Late, incomplete, or intentionally disregarded filings can produce civil penalties, and willful violations may carry criminal consequences.

This article provides general federal information. Form 8300 obligations are separate from income recognition, bookkeeping, sales-tax, and anti-money-laundering requirements that may also apply.