All you need to know about filing a Form 8300 for single or multiple deposit over $10,000.
Where to find the form: https://www.irs.gov/pub/irs-pdf/f8300.pdf
When Does a Form 8300 Need to be Filed?
Trades and businesses must report cash payments received if all of the following criteria are met:
- The amount of cash is more than $10,000
- The business receives the cash as:
- One lump sum of more than $10,000, or
- Installment payments that cause the total cash received within one year of the
- initial payment to total more than $10,000, or
- Previously unreported payments that cause the total cash received within a
- 12-month period to total more than $10,000
- The establishment receives the cash in the ordinary course of a trade or business
- The same agent or buyer provides the cash
- The business receives the cash in a single transaction or in related transactions
- A designated reporting transaction, or
- Any transaction in which the business knows the customer is trying to avoid reporting of the transaction on Form 8300.
- Personal checks drawn on the account of the writer.
- A cashier’s check, bank draft, traveler’s check or money order with a face value of more than $10,000.
Where to File Form 8300
P.O. Box 32621
Detroit, MI 48232
Required Written Statement for Customers
The statement must include the following information:
- The name and address of the cash recipient’s business,
- Name and telephone number of a contact person for the business,
- The total amount of reportable cash received in a 12-month period, and
- A statement that the cash recipient is reporting the information to the IRS.
The code and regulations only specify the information that the business is required to include on a statement, not the format of the statement. A business may use its invoice for the statement of notification, as long as the invoice includes all required information.
Providing a copy of Form 8300 to the payer(s), although not prohibited, is not advisable due to the sensitive information contained on the form, for example, the Employer Identification Number (commonly called an EIN) or SSN of the filer.
The business filing Form 8300 must provide its identified customers with the written statement on or before Jan. 31 of the year that immediately follows the year the customer made the cash payment.
For more information, see: